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Physical media for gaming seems more dire than any other entertainment medium. Books seem very secure due to the fact that a book does not require electronics. CDs, Vinyls, etc. seem safe as a niche format for a while. I also think DVDs, Blu-rays etc. will still exist for a long time as niche releases.
But gaming is a real problem due to open platforms like PC having virtually no physical games released for a while now. And console makers can control their platforms and we know they want an all-digital future. There's almost no way PS6 and Xbox 5 come with optical drives. The best we can hope for is something like the PS5 Disc Add-on. Even Nintendo will eventually drop physical media, even though the Game Card slot takes up little space and probably costs little money.
The 2020s will probably be the last decade with new releases of physical games on all the platforms in abundance. It will be more niche in the 2030s and even more niche in the decades after.



Lifetime Sales Predictions 

Switch: 161 million (was 73 million, then 96 million, then 113 million, then 125 million, then 144 million, then 151 million, then 156 million)

PS5: 115 million (was 105 million) Xbox Series S/X: 48 million (was 60 million, then 67 million, then 57 million)

PS4: 120 mil (was 100 then 130 million, then 122 million) Xbox One: 51 mil (was 50 then 55 mil)

3DS: 75.5 mil (was 73, then 77 million)

"Let go your earthly tether, enter the void, empty and become wind." - Guru Laghima