Skip to main content

Online Gaming Market to Triple in Five Years

The global online games market is already worth $4 billion and is expected to triple in the next five years, according to the latest Strategy Analytics outlook for the global online games market.

The report entitled "Online Games: Global Market Forecast," notes that the rapidly expanding Massively Multiplayer Online Games (MMOG) market, lead by Blizzard Entertainment's World of Warcraft franchise, is blazing the way for electronic sell-through and digital distribution of both PC and console games.

In terms of revenue, the online games category is currently the largest category out of the three main online entertainment markets (music, games and video).

Strategy Analytics estimates that the global online games market generated $3.8 billion in 2006 and projects that the market will grow with a compound annual growth rate (CAGR) of 25.2 percent in the 2007–2011 forecast period to reach $11.8 billion and represent approximately one third of the total games software market by 2011.

"The rapid growth of the addressable market for digital distribution of both PC and Console games will help clear the way for distribution of mainstream hit titles which has up to now been restricted to the physical retail channel," comments Martin Olausson, Director of Digital Media Research at Strategy Analytics.

"The main driver for sustained growth in the online games market will be the continued uptake of broadband services around the world," adds David Mercer, Principal Analyst at Strategy Analytics. "Additionally, the very lucrative revenue opportunity in both the massively multiplayer segment and the electronic sell through market will continue to attract new entrants into the online games market."

Popular posts from this blog

Open Banking Usage to Grow by 470 Percent

The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ
Read more

Why Instant Issuance Payment Cards Evolved

The global financial services sector continues to grow as more progressive organizations seek to gain a meaningful competitive advantage from their digital transformation initiatives. Across the globe, many regions are seeing a significant rise in 'instant issuance' activity from a physical and digital perspective, from both traditional and emerging innovative banking institutions. Digital Payments Market Development Customers increasingly demand instant access to banking services, with physical instant issuance enabling them to leave their branch equipped with a ready-to-go payment card. According to the latest worldwide market study by ABI Research, the market for instantly issued physical payment cards will increase from 243.2 million shipments in 2022 to a forecast of 471.1 million in 2027. "Critically, instant issuance of payment cards is no longer limited to the physical," said Sam Gazeley, industry analyst at ABI Research . Indeed, the growing digitization of p
Read more

Global Digital Business and IT Consulting Outlook

Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth
Read more