The global online microtransaction market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of type into in-game currencies, in-game items, expiration, random purchases, and others. Out of these, the in-game items segment is anticipated to hold the notable share over the forecast period, owing to the desirable features which can be unlocked by purchasing in-game items. Moreover, such purchases enable the gamers to achieve higher success in the game, which is expected to promote the market growth.
The global online microtransaction market is projected to grow on the back of increasing popularity of games across the world. Free games available online, have in-game purchases, which is the major revenue source for game developers. Furthermore, increasing penetration of internet globally, following the COVID-19 pandemic, is anticipated to boost the growth of the market. According to the data by the World Bank, in 2019, 56.727% of the total global population used internet.
On the basis of geographical analysis, the global online microtransaction market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing tech-savvy population, along with increasing penetration of internet in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Enthusiasm for Gaming Amongst Youngsters to Fuel the Market Growth
Most digital and online gaming companies nowadays design games that are targeted for use by the youngsters. This can be attributed to the increasing interests of the youngsters towards digital gaming, along with the increasing internet penetration amongst this age group. Besides this, most of the youngsters are now trapped inside their homes due to the impact of the coronavirus, and hence are using most of their leisure time on online and digital gaming activities.
The online games, which are designed in a freemium or play-to-win business model, allow the users to use the games for free initially, but on a later stage, are required to make in-app purchases. The concept of online microtransaction allow the developers of online video games to deploy the freemium business model and make in-app purchases. The surge in the number of youngsters paying online video games is therefore expected to be one of the major factors to drive the growth of the global online microtransaction market during the forecast period.
However, lack of income and funds amongst the youngsters is expected to operate as key restraint to the growth of the global online microtransaction market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global online microtransaction market which includes company profiling of Tencent Holdings Ltd., Activision Blizzard, Inc., Wargaming Group Limited, Riot Games, Inc., Nexon Co., Ltd, NCSoft Corporation, Electronic Arts Inc., Activision Blizzard, Inc, Valve Corporation, and Smilegate Holdings.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global online microtransaction market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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The Business Research Company published its Online Microtransaction Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Online Microtransaction market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the Online Microtransaction market’s segments- by type into in-game currencies, random chance purchases, in-game items, expiration and by device into mobile, console, PC.View Complete Report: https://www.thebusinessresearchcompany.com/report/online-microtransaction-global-market-report-2020-30-covid-19-implications-and-growthOnline Microtransaction Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The global Covid-19 pandemic turning more people towards gaming to spend their leisure time at home-quarantine and several free-to-play games involve purchasing of virtual goods through microtransactions, thereby increasing the marekt size.
The market is expected to stabilize at a compound annual growth rate of 6.1% and reach $41.92 billion by 2023.The companies adopting new loot box policies in order to adhere to the guidelines of the U.S. game industry trade group; the Entertainment Software Association is a major trend in the online microtransaction market.Few Points From Table Of Content1.
Online Microtransaction Market Regional And Country Analysis……25.
Online Microtransaction Market:WiseGuyReports.com adds “Online Microtransaction Global Market Report 2020-30” reports to its database.Executive SummaryThe global online microtransaction market is expected to grow from $33.05 billion in 2019 to $37.61 billion.
The global Covid-19 pandemic turning more people towards gaming to spend their leisure time at home-quarantine and several free-to-play games involve purchasing of virtual goods through microtransactions, thereby increasing the marekt size.
Microtransactions are in-game purchases of virtual items for small amounts of money.
Microtransactions are done to unlock specific features or enhance the special abilities, content or character in a game.The global online microtransaction market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa.
GameFly, Inc. is an online video game rental subscription service company based in California, USA.The online microtransaction market covered in this report is segmented by type into in-game currencies, random chance purchases, in-game items, expiration and by device into mobile, console, PC.Stringent regulations imposed on the microtransactions are projected to limit the market growth during the period.
According to NPR’s news published in November 2019, China introduced restrictions on video games and online microtransactions for minors.
The Business Research Company’s latest report Online Microtransaction Global Market Report 2020 covers Online Microtransaction market drivers, Online Microtransaction market trends, Online Microtransaction market segments, Online Microtransaction market growth rate, Online Microtransaction market major players, and Online Microtransaction market size.
The report provides in-depth analysis of the impact of COVID-19 on the Online Microtransaction industry, along with revised market numbers due to the effects of the coronavirus.View Complete Report:https://www.thebusinessresearchcompany.com/report/online-microtransaction-global-market-report-2020-30-covid-19-implications-and-growth Online Microtransaction Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request for the sample now:https://www.thebusinessresearchcompany.com/sample.aspx?id=3048=smpThe global online microtransaction market is expected to grow from $33.05 billion in 2019 to $37.61 billion.
The global COVID-19 pandemic turning more people towards gaming to spend their leisure time at home through the quarantine and several free-to-play games involve purchasing of virtual goods through microtransactions, thereby increasing the market size.
The market is expected to stabilize at a compound annual growth rate of 6.1% and reach $41.92 billion by 2023.
