How Colombia is gaining a colossal traction within the mobile gaming market
Despite geopolitical tensions, the growing smartphone penetration and increasing gaming options are also increasing the mobile gaming penetration in many parts of the world. For instance, according to White Designers Game Studios, in Iran, with a population of 82 million and a smartphone penetration rate of about 35% (in 2018), there are more than 30 million active mobile gaming players in the country.
Gaming is defined as playing electronic games conducted through multiple varieties of means, such as through the use of computers, mobile phones, consoles, or another medium altogether. There is an increasing prevalence of high-speed internet connections, especially in emerging economies, which has made online gaming practical for more people in recent years.
For quantitative analysis visit @ https://flairintelligence.com/what-are-the-demographics-trends-in-the-colombia-instant-pay-game-market-forecast-and-opportunities-2016-2026/
COVID Impact on Colombia Instant Pay Game Market
Gaming revenues are almost entirely driven by consumer spending, but the business model has evolved significantly in recent years. Consumers today buy fewer games than previous decades, but spend more time with those games, shifting the business model from single-unit to recurring revenue generated from a base of active users.
As a result, the industry is laser-focused on increasing engagement per user.
Aside from making video games as compelling as possible, the strategy for doing so has been the adoption of in-game monetization opportunities. This business model has come in tandem with improvements to gaming hardware, bandwidth and mobile internet, which have made high-quality games more accessible across devices and platforms. Indeed, close to half (48%) of the industry's revenue now comes from mobile gaming.
Like many companies, the gaming industry is supporting community initiatives to mitigate the effects of COVID-19. These include charitable pledges worth millions of dollars, the donation of surplus computational power to help researchers better understand the coronavirus, and solidarity response funds to help medical workers, children at risk and employees who have been adversely affected.
Social actions aside, the consequence of COVID-19 on gaming has been a massive enlargement of the audience available to publishers. Gaming is typically an at-home activity, and a steady stream of headlines has shows that it is flourishing during the pandemic. Asian gaming giants Nintendo and Tencent both saw sales increases during the first quarter. The former sold almost half of its games digitally, a record that helped increase profits by 41%, while Tencent's year-on-year online games revenue increased by 31%. Analysis from GamesIndustry.biz shows that sales across 50 key markets rose by 63%. Even games released during the pandemic are performing well, with titles as varied as Doom Eternal (a first-person shooter) and Animal Crossing (a world-building simulation) both breaking sales records after launching.
The second long-term trend is the widening of monetization avenues through subscription and free-to-play models. Subscriptions provide a reliable path to monetization for smaller, quality games that otherwise lack the marketing or monetization nous to break into the mainstream. Demand for ultra-high-end gaming is likely to remain popular, but services such as Arcade (Apple) and Game Pass (Microsoft) provide gamers with a large library of video games - often without the need for advanced hardware. Meanwhile, free-to-play games allow developers to monetize without needing to convince consumers to make up-front purchases. Instead, they offer in-game upsell opportunities such as upgrades and expansion packs.
Such buffet models may even encourage consumption. Microsoft has reported that subscription gamers increase play time by up to 40%. With evidence showing that cheaper entertainment tends to prosper during recessions, these low-cost, high-value offerings are a serious way for the gaming industry to expand.
Office A & B, Kakade Terrace
Warje, Pune 411058
Flair Intelligence is market research and consulting firm, with a vast expertise in technology and consumer goods reports. Our colossal repository of research reports, would present you with an in depth details about the market ranging from evolving trends, competitive analysis and bench marking, lucrative investment pockets,which will help your business drive profitable growth.
Our research methodology is designed to provide all your research needs, backed by effective quantitative and qualitative analysis (Surveys, hypothesis formation and estimation ).
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release How Colombia is gaining a colossal traction within the mobile gaming market here
News-ID: 2624432 • Views: 374
More Releases from Flair Intelligence
Know more about the consumer trends in European Flip Flops Market
The government enforced lockdown rules all around the world, are forcing individuals to stay at home. The demand for lightweight sole materials in footwear has plunged as there have been no physical activities, lowering the demand for sports shoes in various games and physical activities. Due to the factory lockdown and manpower shortage, production in the footwear industry has come to a halt. The virus is wreaking havoc on the economy,
How TE Connectivity, Amphenol Sine Systems and Molex is dominating the Global In …
The purpose of the strategic research study titled "Industrial Connectors Market - Global Industry Perspective Comprehensive Analysis and Forecast 2021 - 2028" is to offer industry investors, company executives, and industry participants with in-depth analysis to enable them make informed strategic decisions related to the opportunities in the industry. Industrial and multiphase plugs and sockets provide a connection to the electrical mains rated at higher voltages and currents than household plugs
How Sanofi is dominating the Global Fabry Disease Treatment Market
The purpose of the strategic research study titled "Fabry Disease Treatment Market - GLOBAL Industry Perspective Comprehensive Analysis and Forecast 2020 - 2028" is to offer industry investors, company executives, and industry participants with in-depth analysis to enable them make informed strategic decisions related to the opportunities in the industry. 4D Molecular's lead product candidate for treatment of Fabry and other lysosomal storage disorders is 4D-310, which uses a proprietary vector
Global Dried Beans Market: Know All Insights and Competitive Analysis About the …
The global Dry Beans market is projected to reach USD 40,822 million by 2026, from USD 31,130 million in 2020 and is anticipated to register a CAGR of 4.8% between 2021 and 2026. Due to the Covid-19 outbreak and the imposition of lockdown restrictions, there was a surge in demand for dry beans because of their long shelf-life. The global pandemic has made people health-conscious, and has made them to shift towards consuming organic,
More Releases for Colombia
List of Law Firms in Colombia
List of Law Firms in Colombia is an Excel spreadsheet containing a list of the largest 1,000 Law Firms in Colombia. Each of our company lists displays the leading 1,000 companies ranked by revenue in $USm. Each Excel file contains the following: company name activity description (mainly for larger companies) address fields (address, zip / postcode, country) telephone number website address revenue ($USm) employees name and job title of up to
Colombia Two Wheeler Market (2021-2027)
Colombia two-wheeler market witnessed modest growth during the period 2017-2020 owing to the increasing number of working population and improving lifestyles. Moreover, the inefficient public transportation system and rugged topography of Colombia led to growth in the demand for two-wheeler in the country. However, the pandemic situation caused by Covid-19 in 2020, led to a halt in assembling and manufacturing operations and disrupted the value chain and ecosystem of Colombia's
Colombia Agriculture Market, Colombia Agriculture Industry, Agriculture Dairy Ma …
Agriculture has always been of excessive importance for the Colombia, as feeding the world’s prime population is not a calm task. The Colombia government has been associating the agriculture industry with a quantity of policies, vexing to stabilise the output and in search of ways to confirm the sector is growing healthily and sustainably. The Colombia federal government has been highly supportive of agriculture for decades, and there is wide-ranging
Whats Driving The LATAM Frozen Bakery Market Growth? Bimbo de Colombia S.A. (Gru …
Decresearch has recently published a study titled ‘Global LATAM Frozen Bakery Market Research Report’. In this report, analysts have provided a detailed evaluation of the global LATAM Frozen Bakery market. The report is inclusive of a completely comprehensive study of the LATAM Frozen Bakery Market alongside all the important factors that are likely to have an impact on the commercialization matrix of the market. A highly methodical quantitative as well as
The Baby Food Sector in Colombia 2018 | Nestlé de Colombia, Mead Johnson Nutrit …
The Baby Food Sector in Colombia, 2018 Summary "The Baby Food Sector in Colombia, 2018", is an analytical report by Publisher which provides extensive and highly detailed current and future market trends in the Colombian market. Over the 2007-2017 period, Colombia's total population has steadily increased, while the number of births has fallen. Poverty appears to have been falling since 2009. In 2015, according to government figures, 27.8% of the population was classed
Agrochemicals Market in Colombia
ReportsWorldwide has announced the addition of a new report title Colombia: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “Colombia: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A