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Online Microtransaction Global Market Report 2024 Analysis, Trends, Growth, Research And Forecast 2033
Online Microtransaction Global Market
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According to The Business Research Company's, The online microtransaction market size has grown rapidly in recent years. It will grow from $73.27 billion in 2023 to $80.88 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to gaming industry growth, digitalization of entertainment, free-to-play model adoption, virtual goods and cosmetics, mobile gaming proliferation.
The online microtransaction market size is expected to see rapid growth in the next few years. It will grow to $121.18 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to expanding digital economy, continued free-to-play dominance, live streaming and esports integration, blockchain and digital assets, personalized and social interaction features. Major trends in the forecast period include cross-platform monetization, blockchain and cryptocurrency integration, social commerce and virtual marketplaces, personalization and customization offerings, regulatory scrutiny and consumer protections.
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Market Drivers and Trends:
Growing In-app purchases feature in mobile apps is expected to drive the growth of the online microtransactions market going forward. In-app purchases (IAP) are transactions made within mobile apps or software, enabling users to buy digital goods, content, or features, often in free or freemium apps, enhancing or personalizing their experience. The integration of in-app purchases is likely to boost online microtransactions as it provides a convenient and accessible way for users to acquire digital items and content, contributing to increased revenue in the online microtransactions market. For instance, in July 2023, according to Business of Apps, a UK-based leading B2B media and information platform for the global app industry, In-app purchases represent one of the most prevalent monetization models, with approximately 50% of non-gaming apps and 79% of gaming apps utilizing this strategy. In Q1 2021, Google Play generated sales of $36.7 billion, while the Apple App Store recorded sales of $31.8 billion and is expected to reach nearly $200 billion by 2025. Therefore, growing in-app purchases feature in the mobile apps will propel the growth of the online microtransactions market in the forecast period.
Major companies operating in the online microtransactions market are introducing innovative gaming technology such as Champions Tactics to gain a competitive edge in the market. The Champion Tactics is the first game from the developer that will utilize blockchain technology. For instance, in June 2023, Ubisoft Entertainment, a France-based video game publisher, launched blockchain based technology named Champions Tactics. Blockchain technology improves online gaming by enhancing security, enabling true ownership of in-game assets through NFTs, ensuring transparency, facilitating interoperability, automating processes with smart contracts, and promoting decentralization, allowing players to influence game development and governance.
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Major Key Players of the Market:
Microsoft Corporation, The Walt Disney Company, Tencent Holdings Limited, Sega Sammy Holdings Inc., Sony Interactive Entertainment LLC, NetEase Inc., Valve Corporation, Activision Blizzard Inc., Bandai Namco Entertainment Inc., Electronic Arts Inc., CyberAgent Inc., Take-Two Interactive Software Inc., Square Enix Holdings Co. Ltd., Zynga Inc., Nexon Co. Ltd., King Digital Entertainment plc, Konami Holdings Corporation, NCSoft Corporation, Supercell Oy, Ubisoft Entertainment S.A., Riot Games Inc., Smilegate Holdings Inc., Wargaming Public Co. Ltd., Capcom Co. Ltd., GungHo Online Entertainment Inc., Glu Mobile Inc., Niantic Inc., Machine Zone Inc., Kabam Inc., Gameforge 4D GmbH, Rovio Entertainment Corporation, Miniclip SA, Playtika Holding Corp., Big Fish Games Inc., GREE Inc., DeNA Co. Ltd., Com2uS Corp., Jam City Inc., Scopely Inc.
Online Microtransaction Market 2024 Key Insights:
• The online microtransaction market size is expected to see rapid growth in the next few years. It will grow to $121.18 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Rising In App Purchases Boost Microtransactions Market
• Innovative Technological Advancement
• The Asia-Pacific was the largest region in the online microtransaction market in 2023
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