Gaming has come a long way from its retro pixelated days to now thriving with thousands of real-time players on cloud. Every year, the sector outperforms itself and 2024 will be no different.
Currently, the Indian gaming industry is poised to reach a staggering US$ 8.6 billion by FY27 in India. With growing consumer demands, relentless innovation, technology updates and new monetization models, gaming is on the path to becoming ‘the industry’ to watch out for! As we prepare to witness the future, it becomes clear that gaming will further embark on a journey of innovation and evolution. Therefore, it is paramount to stay aware of the new gaming trends, both emerging and established.
What trends will shape the gaming landscape in 2024?
The year 2024 will witness new emerging technologies that will propel the industry forward while also bringing in millions of new players to the gaming fold.
- AR and VR to redefine the gaming experience
The impact of AR and VR technologies has been substantial on the gaming world. It has created numerous opportunities to enhance the user experience and will continue to do so. Looking ahead, AR and VR technologies will undoubtedly contribute in making games more realistic, enhance graphics, ensure higher resolutions, thereby making the gaming environment more immersive.
We can expect a surge in AR and VR gaming experiences with advancements in hardware, making VR more accessible and AR more mobile friendly.
- Hyper Customization with AI and ML
Artificial Intelligence (AI) is set to play a more decisive role in personalizing gaming experiences. From dynamically adjusting in-game challenges based on individual skill levels to creating tailored storylines, AI algorithms will enhance player engagement and satisfaction.
Both AI and ML technologies will provide new dimensions to game creation, the ability to play, and improve the user experience. It will also play an instrumental role in localisation of global games to different countries, identifying and embracing new cultures and new game development. Hence in the coming year, gamers should expect a more tailored, engaging, and dynamic gaming landscape as the industry adapts to these technological improvements.
- NFTs in Gaming
Non-Fungible Tokens (NFTs) have already sent waves in the world of art, and now they’re poised to revolutionize gaming as well. In 2024, gamers can expect the integration of NFTs for in-game assets, allowing true ownership of virtual items. NFTs will not only introduce a new economic model but also enhance the rarity and uniqueness of in-game assets.
Additionally, a wider integration of NFTs across game platforms will give gamers an extra medium to monetise their gameplay. Most of the industry players at a global scale have begun to notice and embrace different NFTs in their gaming ecosystem.
- Enhanced gaming experience
Nowadays, game developers are majorly focusing on developing games that are more immersive, graphically appealing, and user-friendly. Since the majority of games are played on PCs, mobile devices, or the cloud, developers are prioritizing visuals to outperform their competition. Along with visuals, more emphasis is placed on sensory stimulation as well to make gamers more engrossed while playing.
- Rise of Esports
As a natural successor to modern gaming, Esports is on a path to achieve massive popularity, success, viewership, and stability. While the concept of esports did not gel well with the users a decade before, today the global esports market size is estimated at USD 1.88 billion in 2022 and is expected to reach USD 2.30 billion in 2023.
In 2024, Esports will become more professional and a strong competitor to traditional sports. The increased viewership, organized leagues, rising fanbase, standardized rules, and structured teams will back the growth, helping organizations and investors generate higher revenues. Social media platforms have further simplified live streaming of tournaments and content to a global audience. This has captivated a generation of gaming enthusiasts in schools and colleges to launch Esports programs and scholarships, offering a path to legitimacy and long-term growth in gaming. In 2024, the esports industry holds the potential to rival major sporting franchises by offering multiple revenue streams, like sponsorships, advertising, media rights, merchandise, and ticket sales.
- Cloud Gaming
Cloud gaming is taking over the gaming landscape by storm. The concept of cloud gaming eliminates the expensive hardware requirements to run a game. Instead, players can remotely access the game, and the system will host it on remote servers. Cloud Gaming is revolutionizing the gaming industry by making gaming more accessible. Gamers no longer have to invest in advanced gaming systems or consoles to access the latest games, hence bringing down the cost to play. Instead, players can subscribe to gaming services that boast big game libraries and stream them on their devices. In 2024, as the world embraces 5G, cloud gaming will disrupt the gaming landscape even further and become more widespread.
The above factors will no doubt be some of the dominant trends in 2024, actively shaping the gaming industry in a prosperous way. As technology advances, the interest and demand for bigger and better gaming opportunities will also rise, and these trends will no doubt give the industry a much-needed push.
This article has been penned down by Abhik Saha, CTO and Co-Founder at OnePlay