Emerging Trends in Video Game Market Research: What to Expect in 2024

Emerging Trends in Video Game Market Research: What to Expect in 2024

As the video game industry continues to expand and evolve, staying ahead of market trends has become more crucial than ever. Market research is no longer a supplementary tool—it's an essential element for companies looking to thrive in this dynamic environment. By 2024, emerging markets will become increasingly important, consumer behaviour will change, and technology advancements will have a major impact on the video game market research landscape. This blog delves into the key trends you can expect in video game market research and how they will shape the future of the industry. 

The Growing Role of AI and Big Data in Market Research

The use of big data analytics and artificial intelligence (AI) in video game market research is growing, and this is one of the biggest trends. These technologies are transforming the way companies gather, analyse, and interpret data. AI-driven tools can process vast amounts of information much faster than traditional methods, providing deeper insights into player behaviour, preferences, and emerging trends. For instance, AI algorithms can analyse gameplay patterns to identify what features players enjoy most or where they struggle. 

This information is invaluable for developers aiming to create more engaging and user-friendly experiences. Additionally, big data allows companies to segment their audiences more effectively, targeting specific demographics with tailored marketing strategies. Anticipate an increase in the number of businesses using AI and big data in 2024 to improve their market research procedures. These technologies will give businesses a competitive edge by improving forecast accuracy and enabling real-time modifications to marketing and development initiatives. 

Gamification's Ascent in Market Research

According to market research, gamification—the use of game design principles outside of games—is another trend that is becoming more and more popular. Businesses may improve participant engagement and collect more precise data by adding gamified components to focus groups, questionnaires, and other research techniques. For instance, businesses may use interactive challenges or quizzes that resemble games in place of conventional surveys. Because participants are more likely to be involved and invested in the process, this method can result in better response rates and more candid comments. In the video game industry, where players are already accustomed to interactive experiences, gamification in market research is a natural fit. Expect to see more companies adopting this trend in 2024 to gather richer and more actionable insights. 

Understanding Gamer Demographics: A Deeper Dive

As the gaming community continues to diversify, understanding the demographic shifts within this community is becoming increasingly important. Market research in 2024 will focus more on dissecting these demographics, particularly in terms of age, gender, and cultural background. For instance, while the stereotype of the young male gamer still persists, the reality is that gaming is becoming increasingly popular among older adults and women. In fact, recent studies have shown that nearly half of all gamers are women, and a growing number of gamers are over the age of 50. 

These demographic shifts have significant implications for game development, marketing, and monetization strategies. Companies that invest in understanding these demographics through detailed market research will be better positioned to create content that resonates with a broader audience. This approach will not only help in capturing new market segments but also in retaining existing players by catering to their evolving preferences. 

Cultural Sensitivity's Significance in International Markets

The increasing globalisation of video games has made cultural sensitivity an increasingly important consideration in market research. Due to cultural variations in gaming tastes, aesthetics, and content, games that are popular in one place might not be as appealing in another. In 2024, market research will place a greater emphasis on understanding these cultural nuances.

 Companies will need to adapt their games to align with local tastes and values, whether that involves adjusting the storyline, characters, or even the monetization strategies. For instance, what works in North American markets might not resonate in Asian markets, where mobile gaming is dominant and microtransactions are more widely accepted. Market research firms like Niko Partners are already leading the way in providing insights into these regional differences, helping game developers and publishers make informed decisions about localization and market entry strategies. 

The Shift Towards Ethical and Sustainable Gaming

The gaming community is becoming increasingly aware of ethical and sustainability issues, and this is reflected in their expectations from game developers and publishers. Market research in 2024 will need to take into account the growing demand for games that align with players' values, such as inclusivity, environmental sustainability, and ethical monetization practices. For example, there is a growing backlash against predatory monetization tactics like loot boxes, which many players view as exploitative. As a result, companies are starting to explore alternative revenue models that are more transparent and player-friendly. Similarly, there is a rising interest in games that promote social good, whether through in-game activism or by supporting charitable causes. Market research will play a crucial role in identifying these emerging consumer values and helping companies adapt their strategies accordingly. By aligning with the ethical and sustainability concerns of their audience, companies can build stronger, more loyal communities around their games. 

Conclusion: Staying Ahead in 2024 and Beyond

The video game industry is poised for significant changes in 2024, with market research playing a pivotal role in navigating this evolving landscape. From the integration of AI and big data to the rise of gamification and the need for cultural sensitivity, staying ahead of these trends will be essential for companies looking to maintain a competitive edge. 

At Niko Partners, we specialise in providing in-depth market research tailored to the unique needs of the video game industry. Our insights enable businesses to successfully navigate new marketplaces, comprehend the most recent trends, and make wise decisions.As you prepare for the challenges and opportunities of 2024, partnering with a trusted market research firm can be your key to staying ahead of the curve.

 Explore our services today and discover how Niko Partners can help you unlock the full potential of your video game business in the coming year.