- Key Customer Segments include Marketing and Advertising Industry, Social Media Industry, Individual Consumers
TechNavio, the independent London-based global research firm, today announced the publication of its research report on the Global Virtual Currency Market, which pinpoints social media and online gaming as major players in the booming virtual currency market for the forecast period 2014-2018.
Generally speaking, computer games have traditionally been the domain of young individuals, but the influence of social networking and smartphones is driving the gaming world beyond its traditional base. Online gaming is quickly gaining in popularity in the mass market due to the development and extension of social networking sites such as Facebook and Twitter, as well as smartphone adoption.
Online game availability through social networking sites and smartphones has had a direct impact on spending on virtual currency. Payment models that invite users to purchase virtual goods with virtual currency are gaining popularity among many online gamers.
Speaking on this occasion, one of the senior analyst and co-author of the report noted that, “the Asia Pacific (APAC) region is the largest contributor to the Global Virtual Currency Market with a share of 41 percent in 2013. China, Japan, and South Korea are the leading countries in the virtual currency market in the APAC region with more than 45 million people accessing the internet for playing casual games and web games, which will be driving the growth of this market during the forecast period.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Virtual Currency Market 2014-2018, please send an e-mail to media@TechNavio.com
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Global Virtual Currency Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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