Online Microtransaction Market to Reach $219.4 Billion by 2032 at 13.2% CAGR: Allied Market Research

News provided by

Mar 27, 2024, 06:24 ET

Growth in online gaming, rise in digitalization, and penetration of internet connectivity drive the growth of the global microtransaction market. In addition, convenient, quick, and seamless digital transactions are driving the adoption of the online microtransaction industry.

NEW CASTLE, Del., March 27, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Online Microtransaction Market by Type (In-game Currencies, Random Chance Purchase, In-game Items, Expiration, and Others), Device (PC, Gaming Console, Mobile Phones, and Others), and Payment Model (Prepay, Post-Pay, and Pay-as-you-Go): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the online microtransaction industry generated $65.5 billion in 2022, and is projected to reach $219.4 billion by 2032, witnessing a CAGR of 13.2% from 2023 to 2032.

Prime determinants of growth

Growth in online gaming, rise in digitalization, and penetration of internet connectivity, drive the growth of the global market. In addition, convenient, quick, and seamless digital transactions are driving the adoption of the online microtransaction industry. Furthermore, online microtransaction market trends such as increase in reliance on in-app purchases as a primary revenue stream for mobile applications, and growth in interest in utilizing blockchain technology for secure and transparent microtransactions are expected to drive the growth of the market.

Furthermore, expanding microtransaction ecosystems across multiple platforms and devices and integration of AI for personalized microtransaction recommendations and user experiences are expected to provide lucrative growth opportunities for the online microtransaction industry during the forecast period. However, increase in regulatory scrutiny, potential legal challenges, and increase in concerns about cybersecurity and fraud risks associated with online transactions, have negatively impacted the market growth.

Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/A07401

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$65.5 Billion
Market Size in 2032	$219.4 Billion
CAGR	13.2 %
No. of Pages in Report	231
Segments Covered	Type, Device, Payment Model, and Region
Drivers	Growth in online gaming Rise in digitalization & penetration of internet connectivity Rise in demand for convenient, quick, and seamless digital transactions
Opportunities	Expansion of microtransaction ecosystems across multiple platforms and devices. Integration of AI for personalized microtransaction recommendations and user experiences.
Restraints	Increase in regulatory scrutiny and potential legal challenges. Growth in concerns about cybersecurity and fraud risks associated with online transactions.

Buy this Complete Report (231 Pages PDF with Insights, Charts, Tables, and Figures) at:

https://www.alliedmarketresearch.com/online-microtransaction-market/purchase-options

The in-game items segment to maintain its leadership status throughout the forecast period

On the basis of type, the in-game items segment held the highest market share in 2022, accounting for more than one-third of the online microtransaction market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to the continuous release of new and exclusive in-game items, coupled with social features allowing users to showcase their acquisitions, further fueling the demand for this segment. However, the random chance purchase segment is expected to portray the largest CAGR of 16.7% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. The random chance purchase segment is positioned for continued growth within the broader landscape of online microtransactions.

The PC segment to maintain its leadership status throughout the forecast period

On the basis of device, the PC segment held the highest market share in 2022, accounting for more than one-third of the online microtransaction market revenue, and is estimated to maintain its leadership status throughout the forecast period. The continuous evolution of PC gaming and digital content delivery platforms further amplifies the growth potential of the PC segment within the online microtransactions industry. However, the mobile phone segment is projected to manifest the highest CAGR of 16.1% from 2023 to 2032. Rise in the adoption of smartphones and the increase in reliance on mobile devices for digital interactions drive the growth of the market.

The prepay segment to maintain its leadership status throughout the forecast period

On the basis of payment model, the prepay segment held the highest market share in 2022, accounting for more than two-fifths of the online microtransaction market revenue, and is estimated to maintain its leadership status throughout the forecast period. The rise of prepaid digital wallets and virtual currency systems has provided users with a secure and dedicated mechanism for managing their prepay balances. This not only enhances user trust but also encourages more frequent and spontaneous microtransactions. However, the pay-as-you-go segment is projected to manifest the highest CAGR of 15.5% from 2023 to 2032. The pay-as-you-go model reduces financial barriers, making it more accessible to a wider audience and encouraging spontaneous transactions.

North America region to maintain its dominance by 2032

On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the online microtransaction market revenue. High internet penetration and a large user base have fueled the growth of microtransactions across sectors as this region has a well-established digital infrastructure. However, Asia-Pacific is expected to witness the fastest CAGR of 16.4% from 2023 to 2032 and is anticipated to enhance the market growth during the forecast period, owing to the growth of digitalization and internet penetration in the region.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A07401

Leading Market Players: -

Activision Blizzard, Inc.
CyberAgent Inc.
Electronic Arts Inc.
GungHo Online Entertainment, Inc.
NCSoft
NetEase Inc.
Niantic Inc.
Riot Games
Valve Corporation
Nexon Co. Ltd.
Wargaming.net

The report provides a detailed analysis of these key players in the online microtransaction market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]