COVID-19 Pandemic Turning More People Towards Gaming to Spend Their Leisure Time

The global online microtransaction market is expected to grow from $33.05 billion in 2019 to $37.61 billion.

The global COVID-19 pandemic turning more people towards gaming to spend their leisure time at home-quarantine and several free-to-play games involve purchasing of virtual goods through microtransactions, thereby increasing the market size.

The market is expected to stabilize at a compound annual growth rate of 6.1% and reach $41.92 billion by 2023.

North America was the largest region in the online microtransaction market in 2019.

The expansion of the gaming industry is to act as a major driver for the development of the online microtransaction market.

Stringent regulations imposed on the microtransactions are projected to limit the market growth during the period.

Companies adopting new loot box policies in order to adhere to the guidelines of the U.S. game industry trade group, the Entertainment Software Association, is a major trend in the online microtransaction market.

Major players in the online microtransaction market are SmileGate (CrossFire), Riot Games, Inc., Nexon Co., Ltd., Wargaming.net, NCSoft, Activision Blizzard Inc., Electronic Arts Inc., Valve Corporation, Tencent Holdings Ltd., and NetEase Inc.

Report Scope

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.

It traces the market’s historic and forecast market growth by geography.

It places the market within the context of the wider online microtransaction market, and compares it with other markets.

  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The online microtransaction market section of the report gives context. It compares the online microtransaction market with other segments of the online microtransaction market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, online microtransaction indicators comparison.

Companies Mentioned

  • SmileGate (CrossFire)
  • Riot Games, Inc.
  • Nexon Co. Ltd.
  • Wargaming.net
  • NCSoft
  • Activision Blizzard Inc.
  • Electronic Arts Inc.
  • Valve Corporation
  • Tencent Holdings Ltd.
  • NetEase Inc.
  • Microsoft Corp.
  • GungHo Online Entertainment Inc.
  • CyberAgent Inc.
  • The Walt Disney Co.
  • Ubisoft Entertainment.
  • Niantic Inc.
  • Take-Two Interactive

For more information, visit www.researchandmarkets.com

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