Online Microtransaction Market 2023| Competitive Market analysis, Scope, Trend, Stake, Progress, and Forecast- 2032

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 hamper market growth. Furthermore, increase in smart phone penetration is expected to provide lucrative opportunities for the global online microtransaction market.

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COVID-19 Scenario Analysis:

➢ Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the online microtransaction market in 2020.

➢ With the practice of social distancing, consumer and business activities have reduced to a minimum. In such a scenario, gaming offers an engaging distraction for people at home looking for social interaction and spend leisure time and tend to purchase virtual goods through microtransactions, which fuels the market growth.

➢ Games like PUBG, Counter-Strike, League of Legends" (LOL), and Dead by Daylight are doing very well during the pandemic, which fuels the growth of the online microtransaction market.

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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.

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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The report has offered an all-inclusive analysis of the global Online Microtransaction Market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge soon and positively impact the overall industry growth.

Key benefits of the report:

➢ This study presents analytical depiction of the Online Microtransaction market along with the current trends and future estimations to determine the imminent investment pockets.

➢ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Online Microtransaction market share.

➢ The current Online Microtransaction market is quantitatively analyzed to highlight the market growth scenario.

➢ Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.

➢ The report provides a detailed Online Microtransaction market analysis based on the present and future competitive intensity of the market.

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Key drivers that are propelling the growth of the market are included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

Leading Market Players:

➢ Comprehensive analysis and profiles of the major market players such as
Wargaming.net, Valve Corporation, Activision Blizzard Inc., Riot Games, Inc., SmileGate (CrossFire), NetEase Inc., NCSoft, Electronic Arts Inc., Nexon Co., Ltd., Tencent Holdings Ltd.

These players have adoted various strategies to increase their market penetration and strengthen their position in the industry. Current and future Online Microtransaction market trends are outlined to determine the overall attractiveness of the market.

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