The subscription-based gaming market is segmented into Device Type and Game Type. Furthermore, emergence of cloud gaming and increase in number of SMEs in gaming sector are expected to provide lucrative opportunities to the Subscription-based Gaming Industry. However, increase in prices of services offered by key vendors to gain more profit is expected to hamper the growth of the market. For instance, according to Ericsson, the number of 5G mobile subscriptions in the Asia-Pacific region is anticipated to reach around 1,545 million by 2025. In addition, increase in smartphones and internet penetration globally drive the Subscription-based Gaming Industry growth. Technological advancements in gaming sectors such as inclusion of artificial intelligence (AI), augmented reality (AR) and the release of 5G along with emergence of unlimited data plans are some factors driving the growth of subscription-based gaming market. This reduces risk associated with regular release of top-performing premium games. Subscription based gaming services provide a consistent source of revenue and an engaged audience that operator can monetize through microtransactions and paid downloads. Hence, the pandemic had a positive impact on the subscription-based gaming marketĪ subscription-based model is one of the revenue models that has become increasingly popular for monetizing games, which sees users subscribe to join the games and pay a regular monthly fee to access the games and additional benefits. This led to more leisure time available for each individual and gave rise to wide adoption of subscription games to spend quality time. Moreover, due to strict guidelines issued by government authorities, people were forced to be in-house. The COVID-19 panbdemic impact has prompted every company and business to shift their business operations toward a remote work environment. The global subscription-based gaming market was valued at $17.16 billion in 2021, and is projected to reach $55.94 billion by 2031, growing at a CAGR of 12.9% from 2022 to 2031. Subscription-based Gaming Market Research, 2031
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