The release of the PS5 massively renewed interest in console gaming. The PS5 even became something of a social media sensation thanks to its sleek, innovative design.
Other big-name developers were hot on the heels of the PS5 and a series of new consoles were released.
A year on from the launch of the PS5 and Xbox Series X/S, the discussion has shifted somewhat and now gamers are decrying the lack of games made for either of the next-gen consoles. The lack of games begs the question of what exactly the next-gen consoles bring to the table and when there will be another generation of consoles. So, why were these consoles launched in the first place?
The next-gen consoles
The PS5 and Xbox Series X/S were announced in 2019 and launched in 2020. The reason why they were both designed, created and launched is because Sony and Microsoft have two-year feedback cycles that follow the launch of every console. This is to ensure that the companies remain relevant in the market and continue to capture the attention (and dollars) of consumers.
The upside to this is that gamers with an extra $500 lying around can try out a new console every two years. The downside is that the products are not necessarily any better than the previous versions and it is environmentally wasteful to continue producing new consoles. In fact, there were reportedly many issues with the PS5, which is not surprising for a product with such a short development phase.
One of the main competitors to console gaming that many people did not see coming has been mobile gaming. Mobile gaming is becoming increasingly popular around the world and is set to overtake other forms of gaming soon in terms of popularity and market share.
One segment of the mobile gaming sector that has become particularly popular is the online gambling industry. Online gambling has essentially exploded in popularity over the course of the last 10 years, and there are now dozens of different online casinos looking to attract the attention of potential gamblers. Casinos such as Miracle Casinos are working to stand out from their competition through offering competitive registration bonuses and extensive libraries of games.
Looking to the future
No one knows what the future holds for gaming, but it looks as though console games could be on the wane. There are now more and more free games that millions of users around the world are playing on both PC and mobile applications. Additionally, the rise of virtual reality (VR) and augmented reality (AR) could provide a new source of competition for console games, especially as VR and AR technology improves.
That being said, console gaming provides a unique experience that many gamers prefer over any other type of gaming. As a result, there will likely always be a place for console gaming in the video game industry, even if it has to accept a smaller piece of the market share.