With Christmas behind us, 2024 is incoming at a rapid pace. In a week, we’ll be there. The question that looms around these parts is, what can we expect from the gaming industry come 2024?
Well, as you might expect, gaming will continue to innovate with its foundation of advancing technology.
Pro-Gaming: A Lucrative Future in the Digital Arena
In pro sports, we often imagine an NFL stadium filled to the rafters with people yelling for their favorite teams. But gaming has professional leagues and the sport is growing.
The Rise of Professional Leagues: The future of gaming is not just in playing but also in watching. With professional leagues gaining broadcast coverage and attracting live audiences, the sector is undergoing a transformative evolution. The success of platforms like Twitch has underscored a fundamental shift: people don’t just enjoy gaming; they love watching it too. This has led to the professionalization of gaming, turning what was once a hobby into a full-fledged career for many.
Thriving Tournaments and Economic Growth: High-profile tournaments, especially in popular titles under the banners of FIFA and FIA, are testament to this growth. These events are not just gaming battles; they are spectacles with massive fan followings, extensive media coverage, and significant financial stakes. The professional gaming industry is on an upward trajectory, with revenue projections nearing a staggering $7 billion by 2030. This is not just impressive; it’s a testament to the burgeoning role of gaming in mainstream entertainment.
A New Era of Professional Gamers: The financial implications of this growth are profound. Professional gaming is no longer a fringe career but a lucrative pathway. Gamers are becoming celebrities, with incomes rivaling traditional sports stars, through winnings, sponsorships, and streaming revenues. Their influence extends beyond the game, as they become brand ambassadors and key influencers in the digital age.
Beyond Financial Gains: The impact of pro gaming extends beyond just economic benefits. It’s fostering a new form of social engagement and community building. Fans from around the world unite over shared passions, creating a vibrant, global community. Additionally, it’s pushing the boundaries of technology, with advancements in streaming, virtual reality, and interactive experiences driven by the demands of pro gaming.
AR May Make a Comeback
Games that leverage the power of virtual reality are becoming our new normal. But AR never seemingly panned out. Back in 2015, AR was all the rage. The AR hype machine was unstoppable. But only a few games really cashed in on the wave. Since then, it’s been a bit of a lackluster endeavor.
AR is amazing technology with unlimited potential, but only if someone could figure out what that potential is.
Why AR Could Make a Comeback: Despite past challenges, there are signs that AR is gearing up for a significant comeback in the gaming industry. Advancements in mobile technology, such as more powerful smartphones and improved graphics capabilities, are making AR more accessible and enjoyable. Additionally, the development of new AR platforms and tools is enabling game developers to experiment with more sophisticated and engaging AR experiences.
More Mergers?
“I’m into, uh, well, murders and executions, mostly.”
Christian Bale’s famous character, Patrick Batemen, from American Psycho, is the sort of cutthroat vibe we get from the current state of gaming buyouts and mergers. And yes, I threw down a solid pun with “cutthroat” and it was totally intentional.
Microsoft’s $70 billion purchase of Activision Blizzard may be just the start of a larger movement towards gaming consolidation.
Gaming trends in 2024 will remain deeply futuristic as artificial intelligence likely optimizes ever aspect of games from development to playing to the creation of storylines. The business side will remain on a trajectory that consolidates. One thing is for sure, gaming will continue to gain lots and lots of new players. And with more eyeballs means more and more corporations wanting their cut.