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Rapid Growth of Mobile Gaming Industry in Asia Pacific Spurs Innovation and Partnerships
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Due to the rapid growth and expanding popularity of online gaming, competitive gaming events have increased in frequency. Facebook and Twitter are just two of the social networking sites that now provide free-to-play online multiplayer games. Online video games offer a user-immersive experience in large part due to developments in gaming technology and software.
■ Impact of COVID-19 on United States Warehouse Automation Market
Almost everywhere in the world, the virus pandemic has led to an increase in stock for the video game industry. While numerous nations are under lockdown to stop the spread of the illness, millions of people have turned to their tablets and cell phones to keep their psyches busy and engaged. In order to stop the COVID-19 virus from spreading, the World Health Organization (WHO) joined in on the fun by advising people to play online games at home. As the restrictions imposed by the coronavirus pandemic remove and the nation heals, businesses now have the chance to collaborate and engage their customers through mobile advertising.
■ Increasing eSports Players
Electronic sports, or esports, have flourished throughout the pandemic and are quickly gaining popularity in Asia. China is still the largest e-sports industry in the world. After China, the two other significant markets in Asia for e-sports income are Japan and South Korea. So, it comes as no surprise that esports are rapidly gaining popularity in the area: In actuality, it was a medal event in the 2019 Southeast Asian Games. At the same time, esports arenas with tens of thousands of spectators are quickly springing up around Asia. On the other hand, Esports fans have started participating more frequently in online competitions and events for games like BGMI, Valorant, Call of Duty, Tekken 7, DOTA 2, and others. The most popular esports genres in the nation are sports games, multiplayer online battle arenas (MOBAs), first-person shooter (FPS) games, fighting, card games, and real-time strategy (RTS).
■ Key Development
Increasing Collaboration & Partnership Advertisement: To take full advantage of this expanding market, top brands and advertisers are working with eSports platforms and competitions. LetsGameNow and Flipkart worked together to create the Pro Gaming Showdown Competition in 2020, and NODWIN Gaming and Airtel joined forces to create the Airtel India Esports Tour, a national ranking and honors program for Indian esports competitors. Brands have made a lot of money by advertising, working together, selling products, and franchising via esports teams. The target market for esports enterprises continues to be members of Generation Z and younger millennials. But, for urban youngsters who can afford it, playing video games online is no longer a costly pleasure. Outside urban areas, Tier 2 and Tier 3 cities are also seeing an increase in esports interest.
■ Further Key Findings:-
► Increasing Game License in China: For the first time in 18 months, the NPPA approved 44 imported games and 84 new games created by domestic creators in December 2022. The market leader Tencent Holdings, NetEase, and miHoYo are among the companies gaining licences for new video game releases in China's first batch of permits for 2023, another indication that regulatory pressure on the industry is easing.
► Increasing Demand for Classic Japanese Video Games: The cost of Japanese video game systems and software from the 1980s and 1990s is skyrocketing; certain software titles that formerly cost approximately Yen 5,000 currently and now it's selling cost has been increased by tens and thousands in the second hand market. Due to the current "retro boom," purchases by foreigners who grew up playing the games have sharply increased, and interest in them has grown among young people in Japan as well. Even some people are beginning to see ancient software releases as a potential investment.
► Hiring Screens from Theater: As a result of the closure of cinemas, due to the outbreak of Covid-19 it had a disastrous effect on the korean film industry. CGV, the biggest chain of multiplexes in South Korea, has devised a creative strategy to make up for lost revenue. Gamers can rent movie screens from it for KW 100,000 (about usd 75) for two hours. Gamers have to bring the games, consoles, and controllers with them. Many video games are immersive entertainment, much like movies, and they profit from the excellent picture and sound that theatres can offer.
► Increasing Indian Government Initiative in Gaming Industry: In partnership with IIT Bombay, the Indian government is establishing a national center of excellence for animation, visual effects, gaming, and comics (AVGC). Both Karnataka and Telangana have specialized AVGC policies at the state level. As stated by minister of state MeitY for skill development Rajeev Chandrasekhar, India's first Center of Excellence (CoE) for online gaming will be located in Shillong, Meghalaya, by March 2023.
Makreo research has published a study titled "Asia Pacific Mobile Gaming Market". This is a detailed evaluation of the mobile gaming market performance in the Asia Pacific Region that discusses past, present and future outlook of the industry. In recent past industry has experienced many fluctuations due to the external environment thus this study offers analysis of the industry during Pre-COVID-19 period and post COVID-19 scenario.
Find out more:-
• https://www.makreo.com/report/asia-pacific-mobile-gaming-market-assessment-china-japan-south-korea-india
Similar Related Reports:-
• https://www.makreo.com/report/india-mobile-gaming-market-size-future-outlook-2018-2028
• https://www.makreo.com/report/mobile-gaming-market-report-2023-2028-global-trends-and-forecast-by-source-gamers-population-expenditure-on-gaming-and-regional-break-up
Makreo Research and Consulting
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Sec 7, Kharghar, Navi Mumbai, Maharashtra - 410210, India
Send us a query at info@makreo.com
Phone No: +91-9619699069
Makreo is a Market research and consulting firm working closely with business conglomerates worldwide to help them in many aspects of driving their business growth and assist in making wise decisions with the help of our qualitative & quantitative market insights.
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