The global online microtransaction market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing trend of online gaming amongst youngsters. Online microtransactions include the various in-game purchases, such as paid-features, game coins, premium levels and choices, and others. Although, the games are available for free, or so call “play-to-win” or “freemium” business model, the revenue of such games are dependent on the in-app purchases, also known as microtransactions. The growing enthusiasm for digital gaming globally is primarily anticipated to boost the market growth. Microtransactions are important to unlock premium functions and levels, especially under the play-to-win strategy, which is projected to fuel the growth of the market. Furthermore, the COVID-19 pandemic has surged the demand for online games amongst the population, which is further estimated to propel the market growth.
Moreover, increasing penetration of internet and adoption of cellular phones, are further 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 has access to internet.
The market is segmented by type into in-game currencies, in-game items, expiration, random purchases, and others, out of which, the in-game items segment is anticipated to hold the notable share in the global online microtransaction market over the forecast period. This can be attributed to the rising passion and keenness regarding the games amongst the players, which makes them want to purchase such items. Moreover, game developers make such items advantageous to the progress of the game, therefore, encouraging the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
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 Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of rising demand for games, amongst the younger population, in countries, such as, Japan, South Korea, India, and Indonesia. For instance, according to a report by the World Bank, in India, 361,017,585 individuals were aged under 14 years in 2020. Moreover, increasing penetration of mobile and gaming consoles in the regional markets, is further expected to boost the market growth. 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 in the region.
The global online microtransaction market is further classified on the basis of region as follows:
Our in-depth analysis of the global online microtransaction market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing penetration of internet services and growing trend of gaming are estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2030.
Lack of income and funds amongst the youngsters is estimated to hamper the market growth.
The market in the North America region is estimated to provide most business opportunities over the forecast period, owing to the increasing enthusiasm for online gaming.
The major players in the market are Wargaming Group Limited, Riot Games, Inc., Nexon Co., Ltd, NCSoft Corporation, Electronic Arts Inc., Activision Blizzard, Inc, Valve Corporation, Smilegate Holdings, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, device type, and by region.
The mobile phones segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization