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Online Microtransaction Market 2020 - Indepth Industry Analysis and future market scenario Base on COVID 19 Impact | Activision Blizzard Inc., Electronic Arts Inc., Nexon Co., Ltd., NCSoft, Riot Games, Inc. & More

10-12-2020 10:58 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Online Microtransaction Market 2020 - Indepth Industry

Microtransactions are a small business model used to purchase virtual items such as video games and other mobile phone games. For instance, most video games are available for free download; however, some money is required to buy online virtual products and unlock paid features including prime content, character, or enhanced special abilities. Candy crush, dead trigger, and clash of clans are some examples of games where microtransactions are used. Most of these free-to-play games companies earn revenue with microtransactions, which encourages them to invest more in online microtransaction. This boosts the growth of the online microtransaction market.

Expansion of the gaming industry and surge in the use of internet among young people are the major factors that drive growth of the market. However, stringent regulations imposed by various governments across the globe on online microtransactions hampers the market growth. Furthermore, increase in smart phone penetration is expected to provide lucrative opportunities for the global online microtransaction market.

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North America is expected to have the largest online microtransaction market share during the forecast period, owing to the high craze of online gaming in the region. In addition, prominent players and gaming partners are situated in the region, which also propels the market growth. Moreover, Asia-pacific is also expected to witness a significant growth, owing to increase in smart phone penetration and rise in use of video games by millennials.

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Companies are making strategies such as new service launches, mergers, and acquisitions to sustain in the online microtransaction market and improve their customer base. For instance, in May 2018, Electronics Arts Inc., a company engaged in digital interactive entertainment, announced acquisition of Israel-based cloud gaming technology, GameFly, Inc. The acquisition helped to widen EA's expertise and capabilities in cloud gaming, enabling it to continue new ways for players to experience and access games from any device.

Access full summary at: https://www.alliedmarketresearch.com/online-microtransaction-market-A07401

Major players include : Activision Blizzard Inc., Electronic Arts Inc., Nexon Co., Ltd., NCSoft, Riot Games, Inc., SmileGate (CrossFire), Tencent Holdings Ltd., NetEase Inc., Wargaming.net, and Valve Corporation.

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