The video game industry has surpassed the total valuation of both music and movies combined
And it’s still growing at breakneck speeds.
With a current valuation of over $300 billion, the industry is expected to be worth nearly $600 billion by just 2028.
As we enter 2022, some of the biggest winners in this continued boom will be smaller video game developers, publishers, patent holders and investors, especially those investors who place themselves in position with a company that could be the target of an acquisition.
Make no bones about it, the video game industry is red hot, and in the coming years, many investors in the space will undoubtedly become wealthy.
With all this growth and opportunity noted, Ranga Jagannath, an industry expert and director of growth at Agora, has five predictions that will drive future growth, which could eventually help make video games a trillion-dollar industry.
Here’s a synopsis of his predictions, in no particular order.
Multiplayer games will open more opportunity for in-game social media, and the platforms that provide it.
Livestreaming will expand beyond current capabilities, allowing gamers and spectators to better communicate and transact, in real time.
AR and VR will explode in popularity. As the metaverse expands, more and more gamers will enter new worlds and interact, and transact.
Cloud gaming will continue to eliminate the need for gaming consoles and PCs. Subscription-based cloud gaming could soon become just as popular as traditional gaming hardware.
5G internet connections will allow for better communications and better gaming experiences, especially for mobile players.
Of course, many of these predictions are no-brainers.
Now, here’s a bigger, bolder prediction for 2022: In-Game commerce may absolutely explode.
New technology now looks to allow for real-world ecommerce occurring within video games. Not simply transactions for in-game digital items, but real commerce of real goods and services.
Think of it like Amazon, but inside of video games.
This tech may not only cause a massive increase in in-game transactions, but could allow for new demographics of never-before-gamers to begin playing, communicating, interacting, and transacting.
Because of this, the total video game industry valuation could grow well beyond $1 trillion before 2028.
Read more about Ranga Jagannath’s predictions, HERE
Or see a small game-tech company with patents in the in-game ecommerce space, HERE