The global virtual goods market value is estimated to reach USD 189.76 billion by 2025 driven by the rapid growth in the gaming population across the globe. The rising demand for virtual goods is majorly impacted by the growing use of social networks and online gaming sites among youngsters. In virtual games, virtual currencies are used to buy virtual goods for various avatars. The global virtual goods market share is witnessing exponential growth from online gamers who purchase virtual goods such as swords, magic wands, or houses using real money.
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Adroit Market Research in its latest study titled, “Global Virtual Goods Market Size 2017 By Gender (Female, Male), By Age Group (13-25, 25-35, 35-45, 45+), By Region and Forecast 2018 to 2025” covers the global virtual goods market revenue during 2015 to 2025. The global virtual goods market report also includes insights into the industry such as drivers, restraints, and opportunities. The global virtual goods market share on the basis of gender and age group has been provided for key regions and countries.
The global virtual goods market demand has exploded alongside the rapid growth of social media and gaming. It has resulted in a multibillion-dollar marketplace for products which are virtual. Virtual goods can be any time of good including digital stickers that are used in messaging apps, outfits as part of gaming avatars, and extra lives in a video game. In recent times, gaming has transformed into mainstream entertainment, and the gaming audience has expanded both in size and demographic makeup. The gaming industry caters to a wide range of players who showcase the difference in preference towards gameplay and how they prefer to play. The most important trend that is driving the global virtual goods market is the emergence of free-to-play revenue models, which enables gamers to try a game free of cost. This is done with a view to providing low barriers of entry to the users.
The global virtual goods market is primarily been driven by the high demand from the male population around the world. The global virtual goods market share was dominated by the male population and is expected to account for more than 75% of the overall market by 2025. Online gaming and its associated business models have witnessed strong growth in recent years among the male population. Casual online gaming has familiarized many gamers with the world of video games and assisted companies to target this segment with differentiated products. Furthermore, the rising penetration of social gaming has led to many male participating, and spending money in games on these platforms as they get to play with the people whom they know.
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The global virtual goods market based on geography was dominated by Asia Pacific region occupying nearly 57% of the overall market riding on the strong demand for virtual goods from China and Southeast Asian countries. Asia Pacific has maintained its strong foothold in the global virtual goods market owing to factors such as the large user base of social networks coupled with wide penetration of smartphones and wireless technology. Furthermore, the rapidly maturing payment infrastructure is also a significant driver which has motivated the consumption of virtual goods as it has managed to do away with the risks associated with internet transactions.
The game developers in this region are focusing on unique content creation and the designing of virtual goods in such a manner that they influence the gameplay to a large extent. The virtual goods marketplace is also getting tremendous boosts via investments. For instance, in April 2017, Five Jack, a South Korea-based company, raised an investment of USD 1.2 million in the form of a series A from by Korean VC K-Run Ventures and 500 Startups. Such investment activities are expected to further propel the global virtual goods market during the forecast period.
Key segments of the global virtual goods market
Gender Overview, 2015-2025 (USD Million)
Age Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
Central & South America
Middle East & Africa
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