Fatpos Global has released a report titled “Online Microtransaction Market- Analysis of Market Size, Share & Trends for 2014 – 2021 and Forecasts to 2031” which is anticipated to reach USD 105.98 billion by 2031. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 11.4% between 2021 and 2031. Factors such as the rising popularity of online gaming among teenagers and the increased use of the internet for gaming, according to the report, are encouraging market growth. In-game purchases such as paid features, game coins, premium levels, and choices, and others are examples of online microtransactions. Furthermore, the COVID-19 epidemic has sparked a surge in demand for online games among the general public, which is expected to fuel market expansion.
The market report on the global Online Microtransaction Market includes in-depth insights as:
The estimated value of the market was USD 35.93 billion in the year 2021.
Global Online Microtransaction Market in North America held the largest market share in the year 2020.
Global Online Microtransaction Market is classified on the basis of Type into In-game Currencies, Random Chance Purchases, In-game Items, Expiration, and Others.
Based on Device, the global Online Microtransaction Market is fragmented into PC, Gaming Console, Mobile Phones, and Others.
Key players are likely to focus on new game launches, and acquisitions to retain their positions in the global market.
“The majority of digital and online gaming businesses presently create games specifically for children. This can be ascribed to a rise in young people's interest in digital gaming, as well as a rise in internet penetration among this age range. Aside from that, most teenagers are now cooped up in their houses due to the coronavirus's effects, and thus spend the majority of their free time engaging in online and digital gaming activities. Online games with a freemium or play-to-win business model allow users to play for free at first, but are thereafter compelled to make in-app purchases.”, said a lead analyst at Fatpos Global.
Sales of in-game virtual items and related services make up the online microtransaction sector. In-game purchases of virtual objects for little sums of money are known as microtransactions. These are common in free-to-play games where there is no charge for downloading the game and simply a charge for virtual items purchased online. Microtransactions are used in video games to unlock certain features or improve special skills, content, or characters.
Global Online Microtransaction Market is classified on the basis of Device into PC, Gaming Console, Mobile Phones, and Others. Due to growing internet penetration and smartphone use, the Mobile Phones sector is likely to lead the market over the forecast period. Smartphones are the most popular gaming devices among online users. Smartphone gaming has grown in popularity as the computational power you carry in your pocket has increased dramatically.
Key Players in the Market
Some of the key players operating in the global Online Microtransaction Market are Activision Blizzard Inc., Electronic Arts Inc., Nexon Co., Ltd., NCSoft, Riot Games, Inc., SmileGate (CrossFire), Tencent Holdings Ltd., NetEase Inc., Wargaming.net, Valve Corporation, and Other Prominent Players.
Get Valuable Insights into Global Online Microtransaction Market
In the new report, Fatpos Global thrives to present an unbiased analysis of the global Online Microtransaction Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2031. The study includes compelling insights into growth that is witnessed in the market. Global Online Microtransaction Market is classified on the basis of Type into In-game Currencies, Random Chance Purchases, In-game Items, Expiration, and Others. By Device, the global Online Microtransaction Market is divided into PC, Gaming Console, Mobile Phones, and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.