The Future of the Video Game Landscape
In 2017, 80% of the total video game industry's 36 billion U.S dollars in revenue came from software sales, according to stats by Entertainment Software Association, NPD Group.
But if you've been following the trends and news, it looks like what's coming to the future of video games is closely linked to apps and the cloud. As with TV, we're watching the future unfold in front of our eyes.
What does this mean for the video game market?
Rumors have been raised about the cloud causing the disappearance of consoles and hardware entertainment platforms. But, still, the possibility of wearables and other accessories to improve the gaming experience may be the next best thing to happen to the industry.
Deeper research on the Global Games Market conducted by Newzoo predicts an increase in earnings and a continuation of growth for the gaming industry. How will the market be able to achieve this while transforming from software based to cloud-based? Let's review some of the trends in the video game landscape.
In-Game Purchases for Monetization
Gamers are not strangers to in-app or in-game purchases. A survey about Fortnite revealed that 69% of Fortnite players have bought in-game purchases with an average spend of $85. And this type of monetization is expected to continue.
And to make things more interesting, maybe blockchain technology will play a role in these kinds of transactions. Blockchain developer platform, Hyperbridge, wrote about it on their blog:
"The implications of storing and securing information on a blockchain will be a major breakthrough for gamers and developers, as the technology improves data integrity with digital assets that may be tokenized, traded, and stored. Blockchain integrations will allow for unmediated, secured, cheap, fluid, and fast transactions for in-game exchange and enable players to transfer and securely store in-game value they have created on to the blockchain."
User Experience: Updates & Twists in Gaming
The possibilities are infinite for updates that could include shifts on storylines, backgrounds, characters, and scenery. Some cloud-based games currently make updates for the holidays or special dates. This trend could possibly be translated widely in other games.
Also, open source gaming could become more popular and make it accessible to users to modify and edit graphics and audio content.
Video Game Streaming and Live Tournaments
More and more, gamers want to see others playing and it's one of the trends that will probably be capitalized by the gaming industry and even streaming. Some of YouTube's most watched videos are of community members playing their favorite video games and back in 2014 Amazon purchased Twitch, which is one of the most popular platforms for broadcasting gameplays.
Virtual & Augmented Reality
No need for convincing here. Part of the growth of the gaming industry is attributed to new experiences coming from VR, AR, and MR technologies. Gamers are hungry for enhanced gaming trends like these. And, it seems the launch of 5g could take these to the next level as seen on this video:
It is difficult to predict what will happen or what will be made popular. The gaming industry is a very profitable industry that will just probably continue to surprise us and technology advancements just help even more in that. With a faster broadband connection, better graphics and new innovative experiences, creativity will just keep flourishing.