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Virtual Goods Market By Gender (Male, Female) By Age Group (13-25, 25-35, 35-45, 45+) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The global virtual goods market report explores the critical analysis of the virtual goods industry using key parameters. The report consists of investment strategies, the need for investments in the potassium derivatives industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the virtual goods industry and how economic and non-economic barriers are helping the potassium derivatives market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

 

REPORT ATTRIBUTE DETAILS

Virtual Goods Market by Volume

Yes

Virtual Goods Market by Value

Yes

Virtual Goods Market, Tornado Analysis

Yes

Virtual Goods Market, STAR Analysis

Yes

Virtual Goods Market, SRC Analysis

Yes

Virtual Goods Market, Import-Export Data

Yes (On Demand)

Virtual Goods Market Pricing Analysis

Yes (On Demand)

Virtual Goods Market Segment Analysis

·         By Gender (Male and Female)

·         By Age (13-25, 25-35, 35-45, and 45+)

 

Virtual Goods Market, Regional Analysis

·         North America (US and Canada)

·         Europe (Germany, UK, France, Italy, Spain, and Rest of Europe)

·         Asia Pacific (China, India, Japan, South Korea, South East Asia, and Rest of Asia Pacific)

·         Latin America (Brazil, Mexico, and Rest of Latin America)

·         Middle East and Africa (GCC Countries, South Africa, and Rest of Middle East and Africa)

Virtual Goods Market Key Companies

Facebook Inc., Gree Inc., Mixi Inc., Tencent Holdings Ltd., hi5 Networks Inc., Bebo Inc., Myspace LLC, Tagged Inc., Zynga Inc., and Kabam Inc.

Virtual Goods Market Competitive Landscape

·         Market Share Analysis

·         Competitive Benchmarking

·         Key Players Market Positioning

·         Geographical Presence Analysis

·         Major Strategies Adopted

 

Key Highlights of the report

How are the major segments performing in the Virtual Goods market?

  • In 2021, the 25-35 age group accounted for the largest market share as this age group widely consumes virtual goods.
  • In 2021, males were anticipated to hold a prominent market share. The huge desire for virtual goods among men worldwide is the main factor driving the global market for virtual goods.

Which region dominated the virtual goods market?

In 2021, Due to China and other Southeast Asian nations' significant demand for virtual goods, the Asia Pacific region controlled most of the global virtual goods market. The Asia Pacific has retained a strong position in the Global Virtual Goods Market due to factors including the substantial user bases of social networks and the extensive usage of smartphones and wireless technology.

How is US Market Performing in the virtual goods market?

In 2021, US was expected to be one of the major markets across the world. Many US firms aim to release their own online games as a way to interact with customers online and as a tool for product promotion. In the US, a new breed of businesses is also starting to emerge that help with transactions involving virtual items, for example, by providing "micropayment" facilities or allowing payment by cell phone which will increase the virtual items market value and virtual items market size.

What is the competitive environment of the virtual goods market?

The virtual goods industry's competitive environment provides information on the entire economic profit made by suppliers and businesses, the sales and revenues created in this sector, the virtual goods market share globally, the business organization summary, the introduction of new products, and the opportunities for the virtual goods market.

Executive Summary

What are virtual goods?

Virtual goods are defined as Non-physical objects and money purchased for use in online communities or games. Digital goods in digital goods games, on the other hand, may encompass a broader range of items such as digital books, music, and movies. By definition, virtual goods are intangible. Virtual goods, which include digital gifts and clothing for avatars, may be classified as services rather than goods and are typically sold by companies that operate social networking services, community sites, or online games. Microtransactions are sometimes used to describe sales of virtual goods, and games that use this model are often referred to as freemium games.

Each game has its virtual currency that is used to buy in-game items. They are a major source of money for social media. Virtual world characters or avatars possess property within the boundaries of the virtual world, and players will amass virtual currency to purchase real estate, resources, and numerous status-enhancing and point-adding items. Some virtual currencies are time-based and depend on the accrual of redeemable points from evaluating in-game accomplishments.

Which are the key investments by the virtual goods market players?

Leading players operating in the virtual goods market are focusing on expansion in the virtual goods market and trying to increase their online luxury goods market size. Players are also concentrating on strategic mergers, acquisitions, and collaborations to gain a competitive edge. For instance, A creator of casual games named Wooga GmbH was purchased by Playtika Ltd. in December 2018 for more than US$100 billion.

Electronic Arts, Inc. released updated versions of EA Play and EA Play Pro in August 2020.

Some major players and virtual shopping companies in the virtual goods market are Facebook Inc., Gree Inc., Mixi Inc., Tencent Holdings Ltd., hi5 Networks Inc., Bebo Inc., Myspace LLC, Tagged Inc., Zynga Inc., and Kabam Inc.

What are the Major Driving Factors for the Virtual Goods Market?

Globally expanding smartphone use, rising social gaming adoption, and other inclusionary trends. Growing Internet penetration. The demand for cell phones has significantly increased in recent years. The market's support for social gaming is expanding along with the number of smartphone applications. Smartphones can execute numerous activities at once thanks to their operating systems, which include iOS, Android, BlackBerry OS, and Windows. Using operating systems as a tool. Therefore, during the forecast period, these elements are anticipated to fuel the growth of the global virtual goods market.

virtual-goods-market

What are the Major Risks for the Virtual Goods Market?

The widespread ban on social networking platforms in various nations and the hefty costs involved are the main obstacles to the market's expansion. Additionally, the fact that buyers purchasing virtual goods have no ownership rights to the items they buy is one of their main problems. All rights belong to the game publishers, who are free to alter or delete the products as they see fit. Players may create unofficial secondary markets where they can buy and trade virtual things. Scarcity is one of the key elements influencing the price of commodities in the secondary market. A variety of websites immediately started buying and selling the virtual gold introduced by US-based video game publisher and developer Blizzard Entertainment in its World of Warcraft video game series in 2000.

Which is the key gender in the virtual goods market?

Most in-game purchases are made by men, who also account for most of the virtual goods market. The male market segment created over 70% of the global virtual goods market share. This significant advantage that male users have over female users in virtual goods purchases is partly because of the significantly higher percentage of male gamers. Despite male gamers having a global share of 55% compared to female gamers, there is a significant difference in the percentage of virtual goods purchases. Casual gamers make up most of the population and don't see the need to spend money on virtual goods.

Regarding purchasing virtual goods, women are split on the issue. These players avoid or restrict their in-game purchasing because they are frightened of the endless nature of it. The purchase of virtual goods in video games is mostly driven by new gaming experiences and the increased satisfaction brought on by acquiring these virtual goods among the male population. Additionally, game developers focus on the dominant demographic, men who play video games, and most video games feature male protagonists. These businesses are turning to tactics like grabbing players' interest by creating virtual goods that truly improve the gaming experience. During the playing of each game, the developers cleverly incorporate more content. This is anticipated to enhance the willingness of the male population to pay and, as a result, raise the revenue from this market segment.

How is the virtual goods market performing in regions?

The rising user base on social media and gaming-integrated platforms, including Facebook and other social networks, is the main driver of the Asia Pacific virtual goods market, which is the region that generates the largest income. Increased sales of smartphones and tablets and the emergence of casual and social games on social networking sites and cellphones have contributed to developing a virtual goods market that is expanding quickly. Due to this, social games on mobile platforms and social networks have emerged as the principal sales channels for virtual products over the projection year. China and Southeast Asia continued to consume the most virtual goods in this area. The popularity of online video games has increased across the Asia Pacific due to factors including localization, which involves altering avatars' outfits to match local tastes, dubbing dialogue, and text translation into the language of the target country or area. Another important factor influencing the demand for virtual goods in this area is how simple it is to access and use payment systems for making purchases.

What is the regulatory landscape for the virtual goods market?

Many online games' end user licensing agreements (EULAs) indicate that the relevant game operators have sole control and ownership of the games and that any virtual things found within the games are of no value or standing in law. Users must agree to the conditions of the EULAs to use the games, and they are non-negotiable form agreements. From the perspective of the game operators, this method is the cleanest because it shields them from responsibility resulting from disagreements about the rightful owner of virtual goods.

What is the Virtual Goods Market Size by value?

The global virtual goods market is anticipated to grow at a substantial CAGR of 20.2% in the upcoming years. The global Virtual Goods industry was estimated to be worth USD 67.5 billion in 2021 and was expected to be worth USD 203.6 billion by 2028.

What are the major players planning for the future of the virtual goods market?

Numerous consumer brands have joined virtual worlds to offer their goods as digital commodities. Tens of thousands of dollars are generated each month by companies producing virtual market goods, frequently associated with metaverse platforms like Roblox, including Nike, Gucci, and even Taco Bell. Major parties are investigating the possibility of producing virtual commodities in the metaverse. Brands can create entire virtual worlds, games, and events around the launching of virtual items inside various platforms in the metaverse in addition to dedicated virtual goods releases, providing very immersive and dynamic engagement.

Segmentation of Global Virtual Goods Market-

Global Virtual Goods Market – By Gender

  • Male
  • Female

Global Virtual Goods Market – By Age Group

  • 13-25
  • 25-35
  • 35-45
  • 45+

Global Virtual Goods Market – By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global virtual goods market

COVID-19 didn't majorly impact the virtual goods market.

the Asia Pacific accounted for the most heightened share in the global virtual goods market.

Increasing social media platforms and a growing number of smartphone users will drive the virtual goods market.

The male segment had a major global market share in 2021.

The 25-35 age group had a major share in the global market.

Virtual Goods Market Scope

Report Attribute Details
Market Value in 2021 USD 67.5 billion
Market Value in 2028 USD 203.6 billion
CAGR 20.2%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Nov 2022
Category:  Consumer Goods
Report ID:   60775
Report Format:   PDF
Pages:   130
Rating:    4.5 (40)
Delivery Time: 24 Hours to 48 Hours   
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