In the last few years, online games have arguably become the favorite in the quest gaming market dominance. In fact, the Global Online Gaming Market generated revenue of US$24.15 billion in 2014, and is expected to grow at a CAGR of 11.95 percent through to 2019.
With technology advancing quicker than ever, we asked our analysts to pinpoint three key trends that will help fuel online gaming market growth through to 2019.
Increase in Online Content and Digital Distribution
The Global Online Gaming market delivers a large amount of content through the digital online delivery method. Gaming software vendors provide a variety of online products, services, and gaming solutions. A number of games are provided as packaged goods products by retailers or can be downloaded online. The digital distribution of games and online gaming services will become a prominent part of the Global Online Gaming market in the coming years, boosting the market growth.
Growth of Multiplayer Mobile Gaming
The evolution of advanced and innovative mobile devices could foster the growth of multiplayer mobile gaming during the forecast period. 6-8 percent of gamers in the APAC region and 2-3 percent of gamers in North America play multiplayer games on their mobile devices. This suggests that multiplayer mobile gaming is still in its infancy stage.
An increase in innovation and sophistication of mobile devices is expected to propel the growth of the Multiplayer Mobile Game segment during the forecast period. This increased adoption of MMORPG is expected to propel the growth of the market during the forecast period.
Growth of Virtual Currency
Virtual currency is used in micro-transactions to purchase virtual goods. The virtual goods and micro-transactions revenue model is expected to account for more than 50 percent of the revenue of the Global Online Gaming market during the forecast period. There has been an upsurge in the use of virtual currency because of increased demand for virtual goods and avatars in online gaming.
Gamers also spend money on virtual goods such as magic wands, coins, houses, and swords. This growth in virtual currency is another trend that is expected to propel the growth of the Global Online Gaming market during the forecast period.
