Press release
Global Online Micro Transaction Market Report 2022 -Forecast, Trends And Strategies 2028
The Online Micro Transaction Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering base year as 2021.
Microtransaction is a business concept in which users can pay a small amount for virtual items. Microtransactions are common in free-to-play games, meaning there are no game download fees, just for buying virtual goods online. Microtransactions have had the most profound impact on the burgeoning gaming industry. Game creators have found a way to make the most of this new cash flow. It is estimated that microtransactions are only used by 5-20% of the gaming community and the amount payable varies.
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Market Dynamics:
Driver:
Growth of the Gaming Industry
The prospect of online connectivity revolutionized the gaming sector. After a game has been released, DLC (downloadable content) has shown to be a successful way to get players to pay for more items. DLC is a type of secondary market in games and is a precursor to what are now known as online Micro Transactions. The video game sector, which is dynamic, has been most significantly impacted by online micro transactions. In order to fuel future expansion of the online Micro Transaction industry during the anticipated term, these organizations' leaders aim to monetize the non-participating player base in the community.
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Market Trend:
Global Gaming Industry, Online Tournaments, and Live streaming
With much of the world implementing social distancing in 2020-2021, interest in the multi-billion-dollar online gaming industry continues to grow and some may never have gambled before taking up the hobby. Users can spend real money on features and items while playing his mobile games using online microtransactions or in-app purchases. Players who spend money on in-app purchases get a premium gaming experience. At the same time, it creates profitable opportunities for market participants as it is an extremely valuable and popular source of income for game developers.
Segmentation of Online Micro Transaction Market
By payment model, prepay segment is anticipated to dominate the growth of the online Micro Transaction market. With the prepay model, a customer authorizes the game developer to charge their card for a certain amount, which is usually converted into a virtual currency.
By type, the in-game items segment is expected to lead the development of the online Micro Transaction market during the analysis period. One can buy in-game items and pay to unlock a variety of characters, each with their own set of skills and playstyle.
By device, the smartphones segment is expected to have the highest share of the online Micro Transaction market. According to a Statista survey, 68.1 percent of respondents claimed they played games on their smartphones, making it the most popular gaming device on the globe.
By Type
• In-game Currencies
• Random Chance Purchases
• In-game Items
• Expiration
• Others
By Device
• PC
• Gaming Console
• Smart Phones
• Others
By Payment Model
• Prepay
• Post-Pay
• Pay-As-You-Go
Regional Analysis of Online Micro Transaction Market
The Asia-Pacific region is anticipated to lead the growth of the online Micro Transaction market over the forecast period. Gamers in South Asian countries are gaining access to an ever-changing ecosystem. Users in this region are maturing in their approach to numerous genres, casual, mid-core, and paid games, owing to the increasing smartphone and internet penetration and the world's lowest data tariff. According to a PwC report, the total revenue generated by the in-game Micro Transactions accounted for one-third of the total games and esports in Australia. Moreover, the growing popularity of PlayerUnknown's Battlegrounds (PUBG) Mobile, Among Us, and Pokémon GO is expected to propel the growth of the online Micro Transaction market over the forecasted timeframe.
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
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Players Covered in Online Micro Transaction market are :
• Activision Blizzard Inc.
• Tencent Holdings Ltd.
• NCSoft
• Riot Games Inc.
• Nexon Co. Ltd.
• SmileGate (CrossFire)
• Wargaming.net
• NetEase Inc.
• Valve Corporation and other major players.
Recent Industry Developments in Online Micro Transaction Market
• In January 2022, Xsolla, announced its collaboration with Paytm Payment Gateway, India's leading payments solutions provider, to bring gaming payments solutions to India. Xsolla's Pay Station platform now includes Paytm's Digital Wallet, Unified Payment Interface (UPI), and online banking payment solutions.
• In May 2021, epay, a division of Euronet Worldwide, and famehype have launched a collaboration to better connect consumers, major brands, and influencers in the multibillion-dollar gaming and esports markets.
This Report Answers The Following Key Questions:
1. How big is the market as a whole in 2021? What rate of market expansion is anticipated between 2022 to 2028?
2. Which region would experience a high demand for goods in the years to come?
3. What are the variables promoting the market's expansion?
4. Which sub-market will have the most impact on the market?
5. What market opportunities exist for established and new players?
6. What different short-term and long-term tactics have the market players adopted?
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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