Trends Reshaping The Gaming Industry
The gaming industry is still expanding, and new trends are emerging to reshape the landscape. These changes reflect a dynamic market response to evolving consumer expectations as players demand more immersive experience and engaging content.
Target Audience
About 46% of US gamers are female.
Games are becoming increasingly popular beyond their traditional young male-dominated audience. About 46% of US gamers are female and the part of gamers over 50 is in constant grow. As a result, games are becoming more inclusive to reach a wider audience.
Gaming Conversations
According to the Brandwatch Consumer Trends Report, more than 33 million people discussed gaming online, totalling 118 million mentions from February 1, 2023 to January 31, 2024. Although the overall volume of mentions remained the same, the number of individuals increased by 4% compared to the previous year.
Most of gaming conversations turn around games themselves. Consumers express their excitement about upcoming games, share opinions on recently released games with their communities, or discuss their current gaming experience. These conversations provide companies with valuable feedback to improve their products and refine their marketing strategies.
Most of gaming conversations turn around games themselves. Consumers express their excitement about upcoming games, share opinions on recently released games with their communities, or discuss their current gaming experience. These conversations provide companies with valuable feedback to improve their products and refine their marketing strategies.
Price Trends
Video game prices are rising, which makes game consumers become more price-conscious. They expect an excellent game quality in return for a significant amount of money they invest. At the same time, they are eagerly seeking new amazing content and gaming experience.
Top 5 Countries
by estimated Games Market revenue in 2024
Cozy Gaming
Cozy games—known for their stress-free gameplay—spread during the pandemic as a source of relaxation. Since then, numerous cozy games appeared in the market and fueled online conversations. Online mentions of cozy games increased by 57% from January 16, 2023 to January 15, 2024, and according to Google Trends. The aesthetics of cozy gaming attract mostly female gamers.
Rise of eSports
As of 2022, the worldwide eSports audience size reached 532 million people, and it is expected to be over 640 million worldwide by 2025. The eSports markets is expanding as more and more gamers enjoy both watching and participating in eSports competitions. This type of gaming is more popular in Asia (especially in China) and North America.
Cloud Gaming
Cloud games work without download or installation, you may play them remotely through the cloud. Cloud games are available on any compatible device; there is no need for frequent hardware upgrades. Nevertheless, cloud gaming is highly dependent on a stable and fast internet connection.
According to Statista, the cloud gaming industry revenue is forecasted to grow annually by almost 30%.
Conclusion
In the modern world, gaming companies are challenged by multiple choices for entertainment and fierce competition for consumer attention. In addition, higher costs of games lead to more deliberate purchasing decisions among consumers.