Will Consoles Disappear in the Future?
There is an ongoing debate about the future of video game consoles, much like the uncertainty surrounding the popularity of Virtual Reality (VR). When VR technology was being developed a few years ago, many believed it would revolutionize gaming. However, it has not become the dominant gaming medium as anticipated. Hence, it becomes challenging to predict the fate of consoles as well. Nevertheless, it is hard to imagine them disappearing in the near future.
Consoles serve as a means for manufacturers to keep their audience engaged. Moreover, many players do not own high-end PCs capable of running certain games, making consoles a necessity for them. The console market is thriving. Sony, for example, exceeded their sales target of 18 million consoles in fiscal year 2022/2023 by shipping 19.1 million units. Similarly, Nintendo achieved impressive sales figures of 18 million consoles, despite earlier projections of selling 21 million units. However, the future dynamics of the console market may change.
A Disappearance in the More Distant Future
Today, numerous forms of media have become digitized. Streaming platforms like Disney+ and Netflix have made movies and TV series easily accessible online. The gaming industry has followed suit, with almost all titles being available for digital download in addition to physical copies. Dematerialization is gaining popularity among players, reducing the dependency on physical consoles. In the future, gamers might only need a controller to enjoy their games. Another factor impacting the console market is the rise of smartphones, which offer powerful gaming capabilities. Additionally, industry insiders speculate about the potential decline of consoles due to their costly manufacturing process and component shortages faced by manufacturers.