Train2Game News Video Game Market Estimated To Hit Over $179 Billion

The “Video Game Market Report: Trends, Forecast and Competitive Analysis” report has been added to ResearchAndMarkets.com‘s offering.

The global video game market is expected to reach an estimated $179.1 billion by 2024 with a CAGR of 6.4% from 2019 to 2024.

The future of the global video game market looks promising with opportunities in the smartphones, tablets, PCs, and consoles market. Mobile and online distribution of games are driving the growth of video game industries.

Emerging trends, which have a direct impact on the dynamics of the video game industry, include the development of augmented reality (AR) and virtual reality (VR) based head mounted displays (HMD) and heads-up display (HUD) products and development of games for academic and skill development.

The shooting game will remain the largest segment due to increasing interest towards action-packed video games across all age groups. Constant improvement in graphics quality which provides real life like the mission is driving the market for shooting games.

Within the video game market, smartphone-based games will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to new launches of smartphone-based games, such as PUBG, Battlelands Royale, and War Robots and due to the high usage of these games in emerging nations.

Asia Pacific will remain the largest region and it is also expected to witness the highest growth over the forecast period due to increasing smartphone users and rapid internet growth in the emerging nations. The growing internet users have enabled a steady rise in the online video game market, as it allows gamers to increase the gaming experience with a high-speed internet connection.

Some of the video game companies profiled in this report Sony, Tencent, Microsoft, Netease, Activation Blizzard, Goggle, Electronic Arts, Nintendo, and Bandai Namco and others.

To download a copy of the report click here

Train2Game News 2016 Mobile Gaming Insights

image

SOOMLA, an innovator in mobile gaming analytics, today announced its latest Q1 2016 Mobile Gaming Insights report, which illustrates user spending habits by cross-game behaviour, virtual economy model and game genre.

The new report reveals that users who completed an in-app purchase in one game are six times more likely to pay in another game, compared to any random user who hasn’t purchased. Furthermore, the likelihood of a user to pay in a second game increases by up to 40% based on the amount spent in the first game. Over 20 million players from more than 200 countries were included in the study, which is now available publicly on the company website.

The findings emphasize the contribution of cross-game purchase data to the ability to predict paying users, a coveted virtue in an industry where only 2% of consumers spend in games. Furthermore, knowing a user’s in-app purchase history by genres played, dollars spent and virtual items bought empowers game developers to tailor personalized offers at the user’s “comfort zone” price point.

Yaniv Nizan, Co-founder and CEO of SOOMLA, said: “Attracting payers to your game is like finding a needle in a haystack, but when crossing in-app purchase data from thousands of other games, our payer prediction technology reveals which user segments will eventually convert and what they’re likely to buy.”

Key Report Insights:

●      Past in-game payers are six times more likely to pay in another game.
●      Quick payers (first in-app purchase within 24 hours of install) are nine times more likely to pay in another game.
●      Over 40% of users who paid $25 or more in one game, will also pay in another game.
●      Holiday season savvy developers achieve an average revenue per paying user (ARPPU) lift in December of 83% above the annual average.
●      For each in-game item users purchase with real currency, an average of 18 additional items are purchased with virtual currency.
●      65% of all app revenue comes from “lifetime” goods (e.g. characters, level packs, remove ads), which cost $2.60 USD on average.
●      “Single use” goods (e.g. “save me”, ammo, 30-second boost) account for 71% of all in-game purchases.

Solomon Foshko, Manager of Strategic Intelligence at Wargaming Inc., said: “SOOMLA’s latest report provides a greater understanding of key trends in the mobile market and how best we can apply that insight for a competitive advantage within our product portfolio.”

Additionally, the report provides developers with insights on when players are more likely to play and how they play. For instance, daily active users increase as much as 33% over weekends, and this occurs primarily on phones, although sessions on tablets are often longer. Usage patterns differ across game genres as well, with strategy games boasting the highest average session duration of 11 minutes – 2.6 times more than other genres.

SOOMLA enables payer segmentation with its realtime payer prediction system – a programmatic API that detects when a highly likely paying user has just walked into your game.  Developers can adapt the game to potential payers from the first session and segment them for targeting and in-game promotions. For big publishers, SOOMLA offers highly targeted payer audiences through its recently introduced Audiences dashboard. Mobile marketers can build custom and lookalike audiences based on SOOMLA’s proprietary dataset and provision their campaigns to reach the best users.