n a recent published report, Kenneth Research has updated the Market report for China Digital Gaming Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for China Digital Gaming Market Products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The China digital gaming market is fundamentally different from other digital gaming markets, particularly those of the western countries. Game censorship in China is extremely stringent, and regulatory bodies often ban the licenses of video games that are deemed inappropriate for the cultural development of young gamers. Despite such limitations, China has become one of the largest digital gaming markets in the world, and has grown exponentially in the past few years due to the popularity of mobile games and eSports in the country. According to Research on Global Markets, the China digital gaming market is expected to expand at a compound annual growth rate (CAGR) of 15.4% during 2018-2023, and reach a revenue of USD 83.79 Bn by 2023.
The China digital gaming market is classified into three segments—based on platforms (PC games, console games, and mobile games), revenue models (freemium, pay to play, and advertising), and game genres (shooter, role-playing, arena-fighting, and others [sports, adventure, strategy, etc.]).
Platform Segment Insights
China is a mobile-first country and has the world’s largest mobile subscriber base. The average mobile user owns an affordable handset which allows them to play games on the go. With the increasing availability of reasonably priced yet high-performance smartphones, particularly from home-based brands like Xiaomi, Oppo, and Vivo, there is high growth potential for China’s mobile gaming market. The mobile gaming segment is anticipated to expand at a CAGR of 20.6% through the forecasted period (2018-2023), and occupy a market share of approximately 74% by 2023. Surprisingly enough, post the lift of the 14-year ban on console games, China is expected to witness a significant boost in its console gaming segment, which is expected to grow at a double-digit CAGR during the 2018-2023 period. China-based Subor, which is credited with developing some of the country’s first video game consoles, has already announced the launch of the first high-spec video game console, The Subor Z+.
Revenue Model Segment Insights
Chinese gamers categorically demand free-to-play games and make limited in-app purchases. Therefore, the China digital gaming space is largely dominated by the freemium or free-to-play model. This segment is projected to expand at a CAGR of 15.5% during 2018-2023.
Game Genre Segment Insights
Although role playing games (RPG) held the largest market share of nearly 40% in the China digital gaming market, due to the availability of a large number of RPG games across PC and mobile platforms, the arena fighting segment is expected to witness a higher growth rate (33.7%) during the forecasted period (2018-2023). Arena games like Kings of Glory/Arena of Valor, League of Legends, etc. from the home company Tencent, have become immensely popular in the country in the last couple of years. Therefore, the current genre preference of gamers are expected to drive higher growth for the arena segment in the upcoming years.
Companies Covered
• Tencent
• Netease
• Kongzhong
• Shanda
• 37 Interactive
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of China Digital Gaming Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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