LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global MMO gaming market provides an analysis of the key trends expected to impact the global MMO gaming market through 2015-2019. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global massively multiplayer online (MMO) gaming market is projected to exceed 26 billion by 2019, growing at a CAGR of 8%. “The growth of the global MMO gaming market is mainly attributed to the launch of new gaming consoles and the availability of high-end audio-visual systems, which enhance the gamer's experience,” says Soumya Mutsuddi, lead research analyst at Technavio for the gaming industry.
The top five emerging trends influencing the global MMO gaming market according to Technavio’s media and entertainment research analysts are:
Increase in development of hardware platforms
The majority of software games run on hardware platforms developed by three major companies: Sony Corp., Microsoft Corp., and Nintendo Corp. These companies have developed platforms such as Xbox 360, PlayStation 3, and Wii U, which not only support various games, but also allow gamers to watch videos, listen to music, browse the internet, and download videos.
The success of the game software business is directly proportional to the acceptance of these platforms. With an increase in the number of platforms being developed, there is a rise in demand for gaming software.
Emergence of gamification
Gamification uses game design strategies to optimize user engagement. It takes advantage of human psychology to encourage consumers to engage in a desired behavior. Some of the tools/rewards used in gamification projects are badges, leader boards, activity feeds, real-time feedback, trophy cases, avatars, and mini games. Virtual currencies are used in microtransactions to make online payments and purchase virtual goods.
Increase in online content and digital distribution
The global MMO gaming market delivers most content online. MMO game publishers provide a variety of online products, services, and gaming solutions. A number of games are provided as packaged goods products by retailers or can be digitally downloaded online.
According to Soumya, “In coming years, the digital distribution of games and online gaming services will become a prominent part of the global MMO gaming market, and this is expected to lead to the growth of the market.”
Growth of multiplayer mobile gaming
The evolution of advanced and innovative mobile devices could foster the growth of multiplayer mobile gaming during the forecast period. Around 6%-8% of gamers in APAC and 2%-3% of gamers in North America play multiplayer games on their mobile devices. This suggests that multiplayer mobile gaming is still in its infancy.
However, the increased innovation and sophistication of mobile devices would propel the growth of the multiplayer mobile game segment during the forecast period.
Growth of virtual currency
Virtual currency is used in microtransactions to purchase virtual goods. The virtual goods and microtransactions revenue model is expected to account for more than 50% of the revenue in the global MMO gaming market during the forecast period.
There has been an upsurge in the use of virtual currency because of increased demand for virtual goods and avatars in online gaming. Gamers also spend money on virtual goods such as magic wands, coins, houses, and swords. Therefore, the growth of virtual currency is another trend that is expected to propel the growth of the global MMO gaming market during the forecast period.
Some of the top vendors in the global MMO gaming market, as researched by Technavio analysts are:
- Activision Blizzard
- Electronic Arts
- Riot Games
- Tencent Holdings
- Valve Corporation
Browse Related Reports:
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact email@example.com with your requirements and a link to our subscription platform.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.