Global Subscription-based Gaming Market Report to 2031: Featuring Blacknut, Google, Microsoft and NVIDIA Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 28, 2022--
The “Subscription-based Gaming Market By Device Type, By Game Type: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
According to this report the subscription-based gaming market was valued at $17.16 billion in 2021, and is estimated to reach $55.94 billion by 2031, growing at a CAGR of 12.9% from 2022 to 2031.
A 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. Subscription based gaming services provide a consistent source of revenue and an engaged audience that operator can monetize through microtransactions and paid downloads. This reduces risk associated with regular release of top-performing premium games.
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. In addition, increase in smartphones and internet penetration globally drive the market growth.
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. However, increase in prices of services offered by key vendors to gain more profit is expected to hamper the growth of the market. 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 market.
Key Findings of the Study
- By device type, in 2021 the smartphone segment dominated the subscription-based gaming market size.
- Depending on game type, the action segment generated the highest revenue in 2021 of subscription-based gaming market share. However, adventure segment is expected to exhibit significant growth during the forecast period.
- Region wise, the subscription-based gaming industry was dominated by Asia-Pacific region in 2021.
Key Market Segments
By Device Type
By Game Type
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Amazon Luna
- Google LLC
- Microsoft Corporation
- NVIDIA Corporation
- Sony Group Corporation
- Ubitus K.K.
For more information about this report visit https://www.researchandmarkets.com/r/ukc5l1
View source version on businesswire.com:https://www.businesswire.com/news/home/20221228005145/en/
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INDUSTRY KEYWORD: ELECTRONIC GAMES ENTERTAINMENT
SOURCE: Research and Markets
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PUB: 12/28/2022 04:21 AM/DISC: 12/28/2022 04:21 AM