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A virtual world materializes, menus fade, and the controller vibrates. Video game fans can expect 2024 to be a historic year for the genre thanks to new releases, changes in the industry, and technological developments that will completely change how we play. Fast-forward, pixelated heroes, as we explore five key forecasts that will shape the video game industry in 2019:
1. M&A Mayhem: Consolidation Frenzy Shakes the Video Game Industry
Prepare for the ultimate power struggle—in boardrooms, not on screen. Large tech companies are predicted to initiate a wave of mergers and acquisitions as they compete for a piece of the rapidly expanding gaming market. Following the collapse of the Embracer Group, companies such as Gearbox could be highly desirable acquisitions for tech giants such as Amazon, Alphabet, and Apple. Microsoft, on the other hand, might limit its acquisitions to smaller ones in order to avoid having to go through the regulatory conflicts that followed the purchase of Bethesda. The industry will be reshaped by this wave of consolidation, possibly resulting in titles that are exclusive to certain platforms and changed studio environments.
2. Unionize or Perish: Workers Fight for Recognition
Video game developers had a terrible year in 2023 as layoffs and a severe case of crunch culture reached alarming heights. Anticipate a shift in the winds this year. There will be a spike in unionization attempts in the video game industry in North America, which has never been unionized before. Microsoft may be at the center of this movement with its expanding stable of studios. A major studio’s successful unionization drive might create a precedent for the industry, resulting in broader worker protections and more equitable treatment for all.
3. Cloud Gaming Takes Flight: The Console Wars Dissolve
Do you recall the grainy dust from cartridge blowouts? These are waning days. In 2024, cloud gaming—once a nascent experiment—is expected to explode. It will become commonplace for services like PlayStation Now and Xbox Cloud Gaming to exist, erasing the distinction between console generations and paving the way for more potent, resource-intensive games. This could finally put an end to the console wars and usher in a new era of cross-platform play and shared experiences by lowering accessibility barriers and challenging platform exclusivity.
4. Mobile Reigns Supreme: Smartphones Become the Dominant Battlefield
While PCs and consoles compete for supremacy, the real battleground is inside your pocket. It is anticipated that mobile gaming will keep growing at an exponential rate, surpassing the combined revenue from PCs and consoles. Anticipate significant investments from AAA studios in mobile games, which will create captivating experiences tailored for touchscreens. Mobile gaming will push the limits of what’s possible on a phone, securing its dominance in the video game ecosystem with cutting-edge genres and cloud-powered streaming.
5. The Metaverse Beckons: A New Frontier Emerges
Maybe in 2024 we’ll take our first tentative steps into the metaverse. With businesses like Meta (formerly Facebook) investing billions in augmented and virtual reality, video games will lead this new digital frontier. In the immersive embrace of virtual reality, picture yourself and your friends exploring vast open worlds, going to virtual concerts, and engaging in real-time competitions. The metaverse for video games has unquestionable potential, opening a Pandora’s box of creativity and innovation, even though technical challenges and privacy concerns still exist.
Thus, get your VR headsets charged, grab your controllers, and get ready to level up in 2024. With mergers, unions, cloud gaming, mobile dominance, and the impending metaverse changing how we play, interact, and interact with virtual worlds, the video game industry is set for a transformative year.
According to Bloomberg
