DUBLIN–(BUSINESS WIRE)–The “China Online Gaming Market, Size, Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
This report provides current trends and analysis of the China Online Gaming Industry, the market will reach US$ 90.52 Billion by 2027 at a CAGR of 8.45%.
Companies Mentioned
China’s online gaming market is rising meteorically, with more than 701.8 Million gamers as of 2022; China is the biggest market in the world in terms of video games.
As the leading market worldwide in video games, China was able to take advantage of the online gaming industry, contributing to its growth over the years. China is attracting many worldwide gaming companies that want to expand their activities in one of the most digitalized countries in the world.
Online games are played over the Internet using video game consoles, personal computers (PCs), and mobile devices. Online games may include multiplayer modes, downloadable content, and in-game chat, which can be provided for free or on a fee or subscription basis. The Chinese online game industry is a rapidly increasing and dynamic interactive entertainment industry worldwide. According to our research findings, China Online Games Industry will grow with a CAGR of 8.45% from 2022 to 2027.
China is the ‘Gaming Industry Capital of the World’ making up around 25 percent of the global video game industry. However, China’s biggest tech company, involving gaming giant Tencent, has come under heavy regulatory scrutiny over the past two years as the Communist party sought to overhaul the private sector, a move which saw billions wiped off their collective market value.
As a result, Chinese online games industries have studied from the West, adopted the Western form and structure, and operated under a foreign management mode; cases of development of online games industries that rely on the West reflect the formation of global popular culture in China.
In addition, China made up over 25 percent of the global video game industry and anticipated that half of China’s population is players in China alone. Moreover, the sector gets larger and stronger during the pandemic. The Chinese online game industry was US$ 60.34 Billion in 2022.
China gaming industry remains the largest single-country market in the world. The rising online gaming market has appeared as China’s most influential and transforming market. It has been development driven by double-digit growth in online gaming users, increasing Internet and broadband infiltration, and rapid product development and commercialization.
Various new games like ‘Knives Out’ and ‘Love & Producer’ are expected to outperform. Increasing consumers’ propensity to play online games and rising mobile game penetration are the major growth drivers of China’s online gaming market. Furthermore, with the rise of Chinese online gamers’ per capita income, 5G technologies have also given rise to the mobile-based VR gaming market in the Chinese region. As a result, they have significantly reinforced the china online gaming market.
Mobile Gaming has grown continuously and remains main factor to boost Online Game
Based on Category, China Online Gaming Market was divided into three types: Mobile Gaming, Client Gaming, and Web Gaming. Mobile Gaming holds the maximum revenue due to rapid increases in China’s internet access through Wi-Fi networks along with the widespread adoption of 4G, 5G service, which is quickly bringing China to the top of global internet access rates.
The market has seen relatively higher growth, with the age ranges of 13-20 years, with good internet connectivity. The adoption of many new games is expected to increase, and turning the mobile-based device into a powerful gaming platform has significantly driven the market.
Males will dominate in the Forecast Period
By User, Males will dominate the market revenue during the forecast period 2027 due to the rising development of internet technologies and the surging popularity of online games. In addition, Global companies are entering the market by acquiring Chinese companies’ shares or taking sponsorships of professional players, which has driven the segment’s growth. Online Gaming Market was divided into three types: Mobile Gaming, Client Gaming, and Web Gaming.
Young People remain top in Playing an Online Game in China
By Age Group, Online Gaming Market was divided into five types, including 18-24 Years, 25-34 Years, 35-44 Years, 45-54 Years, and 55-64 Years. Young people age group captured the maximum share due to Internet reaching, the Increase in smartphones, the Digital payment user base on the Increase, and the Growing local developer ecosystem. Online game users are young; maybe they still go to school or university, and some of them are of the early-working age and need to save money for their future. Most of them play these games while waiting for something or being bored.
For more information about this report visit https://www.researchandmarkets.com/r/ygmknx-online?w=4
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