Virtual Goods Market Set for Remarkable Expansion: Insights from Credence Research
Credence Research, a pioneer in global market research, has released an exhaustive report on the rapidly growing virtual goods market. The market is anticipated to witness a significant CAGR of 20.2% over the coming years, and was projected to have reached USD 203.6 billion by 2028, from an estimated market size of USD 67.5 billion in 2021.
Virtual goods are non-physical objects or virtual currency bought for use in online communities or games. This rapidly burgeoning market includes digital gifts, clothing for avatars, and various in-game items. These goods, typically sold by companies operating social networking services, community sites, or online games, offer lucrative opportunities for brands to monetize their digital assets.
The report further highlights that the male market segment makes over 70% of the global virtual goods market share, driven by new gaming experiences and the enhanced satisfaction brought by acquiring these virtual goods. Despite a global share of 55% of male gamers, compared to female gamers, a significant difference is observed in the volume of virtual goods purchases.
The Asia Pacific region has emerged as a significant player in the virtual goods market, owing to a large user base on social media and gaming-integrated platforms such as Facebook. The increasing sales of smartphones, tablets, and the emergence of casual and social games have led to the rapid expansion of this market.
However, the report identifies several challenges facing the market, including the ban on social networking platforms in several countries and high costs associated with the development and maintenance of virtual goods. Also, since the game publishers hold all rights to the virtual goods, players often have no ownership rights to the items they buy, which could hinder market growth.
Despite these challenges, the future of the virtual goods market looks promising as many consumer brands, such as Nike, Gucci, and Taco Bell, are already exploring the opportunities presented by the virtual goods market. They are entering virtual worlds to offer their goods as digital commodities, providing immersive and dynamic engagement.
Credence Research’s report provides detailed insights into the market dynamics, trends, challenges, opportunities, and the competitive landscape of the virtual goods market. The full report can be accessed on Credence Research’s official website.
Browse Full Report (Virtual Goods Market By Gender (Male, Female) By Age Group (13-25, 25-35, 35-45, 45+) – Growth, Future Prospects & Competitive Analysis, 2016 – 2028) – https://www.credenceresearch.com/report/virtual-goods-market
Table Of Content
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Virtual Goods Market
2.2. Global Virtual Goods Market, By Gender
2.3. Global Virtual Goods Market, By Age
2.4. Global Virtual Goods Market, By Region
3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Virtual Goods Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Market Drivers
3.2.3. Market Restraints
3.2.4. Market Opportunities
3.2.5. Major Industry Challenges
3.3. Attractive Investment Proposition,2021
3.3.1. Product
3.3.2. Application
3.3.3. Geography
4. Premium Insights
4.1. STAR (Situation, Task, Action, Results) Analysis
4.2. Porter’s Five Forces Analysis
4.2.1. Threat of New Entrants
4.2.2. Bargaining Power of Buyers/Consumers
4.2.3. Bargaining Power of Suppliers
4.2.4. Threat of Substitute Types
4.2.5. Intensity of Competitive Rivalry
4.3. Value Chain Analysis
4.4. Technology Analysis
4.5. Marketing Strategy Analysis
4.5.1. Direct Marketing
4.5.2. Indirect Marketing
4.5.3. Marketing Channel Development Trend
5. Market Positioning of Key Players, 2021
5.1. Company market share of key players, 2021
5.2. Competitive Benchmarking
5.3. Market Positioning of Key Vendors
5.4. Geographical Presence Analysis
5.5. Major Strategies Adopted by Key Players
5.5.1. Key Strategies Analysis
5.5.2. Mergers and Acquisitions
5.5.3. Partnerships
5.5.4. Product Launch
5.5.5. Geographical Expansion
5.5.6. Others
6. COVID 19 Impact Analysis
6.1. Global Virtual Goods Market Pre Vs Post COVID 19, 2019 – 2028
6.2. Impact on Import & Export
6.3. Impact on Demand & Supply
7. Global Virtual Goods Market
7.1. Global Virtual Goods Market, By Gender, 2016-2028(US$ Bn)
7.1.1. Overview
7.1.2. Global Virtual Goods Market, By Gender, 2021 vs 2028 (in%)
7.1.3. Global Virtual Goods Market, By Male, 2016-2028 (US$ Bn)
7.1.4. Global Virtual Goods Market, By Female, 2016-2028 (US$ Bn)
7.2. Global Virtual Goods Market, By Age, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Global Virtual Goods Market, By Age, 2021 vs 2028 (in%)
7.2.3. Global Virtual Goods Market, By 13-25, 2016-2028 (US$ Bn)
7.2.4. Global Virtual Goods Market, By 25-35, 2016-2028 (US$ Bn)
7.2.5. Global Virtual Goods Market, By 35-45, 2016-2028 (US$ Bn)
7.2.6. Global Virtual Goods Market, By 45+, 2016-2028 (US$ Bn)
8. North America Virtual Goods Market Analysis
8.1. North America Virtual Goods Market, By Gender, 2016-2028(US$ Bn)
8.1.1. Overview
8.1.2. SRC Analysis
8.2. North America Virtual Goods Market, By Age, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. SRC Analysis
8.3. North America Virtual Goods Market, by Country, 2016-2028 (US$ Bn)
8.3.1. U.S.
8.3.1.1. U.S. Virtual Goods Market Estimates and Forecast, 2016-2028 (US$ Bn)
8.3.1.2. U.S. Virtual Goods Market, By Gender, 2016-2028 (US$ Bn)
8.3.1.3. U.S. Virtual Goods Market, By Age, 2016-2028 (US$ Bn)
8.3.2. Canada
8.3.2.1. Canada Virtual Goods Market, By Gender, 2016-2028 (US$ Bn)
8.3.2.2. Canada Virtual Goods Market, By Age, 2016-2028 (US$ Bn)
…………………
Browse Full Report (Virtual Goods Market By Gender (Male, Female) By Age Group (13-25, 25-35, 35-45, 45+) – Growth, Future Prospects & Competitive Analysis, 2016 – 2028) – https://www.credenceresearch.com/report/virtual-goods-market
About Us-
Credence Research is a viable intelligence and market research platform that provides quantitative B2B research to more than 10,000 clients worldwide and is built on the Give principle. The company is a market research and consulting firm serving governments, non-legislative associations, non-profit organizations, and various organizations worldwide. We help our clients improve their execution in a lasting way and understand their most imperative objectives. For nearly a century, we’ve built a company well-prepared for this task.
Recently Published Reports-
Ecoa Esource and Clinical Trials Market
Continuous Renal Replacement Therapy Market
Media Contact
Company Name: Credence Research
Contact Person: Gunakesh Parmar
Email: Send Email
Phone: +91 8085895002
City: Gwalior
State: MP
Country: India
Website: https://www.credenceresearch.com/report/virtual-goods-market
