Digital gaming is one of the fastest growing industries in the world and China is one of the fastest growing markets within the digital gaming industry. What’s interesting to note here is China is fundamentally different other countries with an extremely stringent regulatory environment where there is very little tolerance for games or content which do not comply to the standards set by the regulatory bodies. Yet, one of the leading mobile gaming companies, Tencent is actually a China based company.
What is it that makes China Digital Gaming Market the fastest growing market despite all the censorship? If we look at the numbers then, as per the study on China Digital Gaming Market conducted by Research on Global Markets, “ it is expected to expand at a compound annual growth rate (CAGR) of 15.4% during the 2018-2023 period, and will reach a revenue of USD 83.79 Bn by 2023.”
Now let’s look into the reasons for this growth, China has the world’s largest population base and hence there’s no surprise that the it will have the world’s largest mobile base. Hence, China is known as a mobile first company. Its also home to companies like Xiaomi, Vivo and Oppo, which have revolutionized the low-cost smartphone market in the whole Asia-Pacific region. Therefore, for the China Digital Gaming Market, there cannot be a better place to grow and proliferate at a fast pace.
The three popular segments of Digital Gaming Market in China are mobile gaming, console gaming and PC gaming. The famous revenue models are Freemium, Pay-To-Play, and Advertising. However, the maximum growth is seen in the freemium or often known as Free-to-play model which dominates the current China market and is expected to grow at a CAGR of nearly 15% between 2018-2023, this is as per the study conducted by Research On Global Markets.
The dominance of China in the Digital Gaming Market is like a case study for many countries. If China can rule this market despite all the odds, then it is evident that there is a lot of potential in this market and with focus and advancements in technology implemented in digital gaming, it will not be difficult for new players to carve a space for themselves.
For more information, download China Digital Gaming Market: https://www.researchonglobalmarkets.com/china-digital-gaming-market-2018-2023.html
Research On Global Markets 