LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global online gaming market is expected to grow at a CAGR of almost 12% during the forecast period.
This research report titled ‘Global Online Gaming Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the global online gaming market into three major product segments. They are:
- Casual gaming
- MMO gaming
- Digital console gaming
Global casual gaming market
The global casual gaming market is expected to grow at a CAGR of over 9% during the forecast period. Games such as Halo require intense time and attention commitments and thus are gradually receiving competition from simpler and lower-commitment games like Farmville, the Facebook game, in which 83 million users build virtual farms. Hence, the social network platform is the most preferred choice for casual game developers.
Moreover, the cost of purchasing casual games is quite low as compared to the cost of intense games like Call of Duty. According to Soumya Mutsuddi, a lead analyst at Technavio for media and entertainment services research, “One reason for the high popularity of casual gaming is the ease with which the game can be played. Further, users’ desire for instant gratification is also acting as one of the major factors in the rise of casual gaming, thereby creating a demand for mobile apps.”
Global MMO gaming market
The global massively multiplayer online (MMO) gaming market is expected to grow at a CAGR of over 13%. Online multi-player gaming has been popular for a long time however, the MMO market has changed dramatically in terms of revenue, player preferences, and addressable audience during the last few years. Overall, the total MMO market generated USD 18 billion in revenue in 2015, leading to intense competition among SMEs and large publishers in order to maintain and increase their market shares.
The success of multiplayer online battle arena (MOBA) titles indicates a subtle but noticeable transition in the online gaming market. MOBAs have quickly become one of the most popular genres of gaming as they are offering similar fast-paced action as first-person shooter games. In 2014, World of Warcraft, a game initially released in 2004, experienced an increase of 600,000 subscribers globally following the release of its sequel game, Warlords of Draenor.
One of the main reasons for the increase in the subscriptions is the inclusion of features such as micro-transactions and a partial free to play (F2P) component. The game developers are focusing on including partial or complete F2P options for the games being published as their demand is much higher than pay-to-play MMOs. Further, fantasy sports are another type of MMO that has become popular globally. It is a type of online game where participants form virtual teams with real players of a professional sport like baseball, cricket, or football. The virtual teams then compete with each other on the basis of the statistical performance of the players in actual games.
Global digital console gaming market
The global digital console gaming market is expected to grow at a CAGR of over 5% in the 2016-2020 period. Earlier, the sale of games, either for play stations or personal computers, was via retail stores. However, the scenario is changing gradually with the digital sales of PC games eclipsing the sales of retail games. Steam, one of the leading digital distribution platforms for PC games developed by Valve Software offers over 1,000 PC games from a variety of big publishers including Activision, Bethesda, Electronic Arts, and Ubisoft.
Thus, because of the growing popularity of digital gaming, various developers and publishers have started to release digital copies of new as well as old games developed by the companies. GamersGate has a more worldwide focus, featuring many games that are not available on Steam, especially games in Europe. In addition, Desura is focusing on independent games, i.e., games that are self-published. Further, the segment is expected to receive much competition from the MMO online gaming segment as it is flourishing in all its segments.
“On the console front, both the Xbox 360 and PS3 have gradually started to offer a number of games digitally. Further, portable consoles such as PSP and Vita are offering a robust selection of games to download,” says Soumya.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Activision Blizzard
- Electronic Arts
- Giant Interactive
- GungHo Online
- Microsoft
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. 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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