New York, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Subscription-based Gaming Market Size, Share & Industry Trends Analysis Report By Device Type, By Genre, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06374170/?utm_source=GNW
The subscription-based gaming service renders a wide variety of games from its catalogue to the customers on the devices, which provides top-notch gaming graphics and various other features by charging annual or monthly subscription membership fees.
Customers commit to these lucrative services on a monthly or annual basis. Organisations make available these games on multiple platforms and devices such as tablets, consoles, smartphones, PCs, VR headsets, smart TVs, and many other devices. The subscribers can choose either to download the game or stream the games directly on the platform.
The subscription service lowers the dangers associated with top-performing title delivery on a regular basis. Subscription services generated a regular source of revenue and an engaged audience through which service providers can get stable income through micro-transactions and prepaid downloaded content. The growth of these subscription-based industry also owes greatly to the rise in the number of smartphone users and easy access to online services.
COVID-19 Impact Analysis
The COVID-19 outbreak certainly has a very great impact on businesses. Businesses and organisations had to shift their operations towards an online work environment. The government made it obligatory for the people to stay indoors imposing strict guidelines to adhere to. As people were looking for ways to entertain themselves and also keep connected to people using subscription-based games. During the COVID-19 period, there has been a transition from live events to live streams as esports has changed the way of their work to cope with the situation. The businesses & organisations associated with the subscription-based gaming market are positively impacted by theCOVID-19 outbreak resulting in great sales and revenue.
Market Growth Factors
Emergence of Cutting-Edge Technology in The Gaming Sector
The technological breakthroughs in recent years have improved online gaming to an extent that between reality and fantasy there is only a thin line separating them. The excitement, creativity and design of the game have stimulated the minds of the player. Rapid technological advances are resulting in increased subscription-based gaming adoption since they give a unique experience and greater satisfaction to gamers.
Rise in Smartphone Usage And Internet Accessibility
The availability of top-notch smartphones has led to the growth of mobile game players worldwide. The expectations for mobile-based gaming is continuously growing among players owing to greater smartphone access and improved internet penetration. The technological advancement in the smartphones like wider screens, storage capacity, and high RAM integration has led to the expansion of mobile-based subscription games users. Even though casual games remain a favourable choice, the screen time of hardcore gaming enthusiasts on phone has increased greatly.
Market Restraining Factors
Need of Continuous Improvements And Content Upgradation Of Games
The subscription-based gaming market is often greatly impacted by the fact that the developers have to focus on introducing more engaging environment for the players. Customers look forward to more features as they are paying a monthly fee for the product. The business entities are required to continuously update and provide new themes or content for the end users. This is necessary for the business if they wish to remain in the industry for the long term as users are likely to lose interest and get bored from the features that are being used since long.
Device Type Outlook
Based on device type, the subscription-based gaming market is divided into smartphone, PC, console and others. In 2021, the PC segment dominated the subscription-based gaming market with the maximum revenue share. The availability of new technological advancement, easy access to internet services, and the rise of the media & entertainment industry are the major factors leading to the rising demand for PC games. As people are realising that the productivity of tablets or smartphones is limited, they are turning to the PC which offers multitasking, videoconferencing, and big screen.
Gaming Genre Outlook
On the basis of gaming genre, the subscription-based gaming market is segmented into action, adventure, shooting, fighting, role playing, sports, racing and others. In 2021, the adventure segment garnered a significant growth rate in the subscription-based gaming market. The adventure game allows the player to take up the central character in an interactive narrative. As the user dwells into playing their character they build up new skills as they reach new difficulty levels. The players get to experience their own heroic journey through these adventure games.
Regional Outlook
Region wise the subscription-based gaming market is analysed across North America, Europe, Asia-Pacific, LAMEA. In 2021, the Asia-Pacific region led the subscription-based gaming market by generating maximum revenue share. With the growth in independent entities, active business associations, foreign investment and supportive government policies the region has wide opportunities for the gaming business. The governmental policies can entice considerable foreign investment for leading small & medium scale gaming companies for partnership work and businesses. Thus, this support has led to the accelerated growth in this region.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Apple, Inc., Google LLC, Microsoft Corporation are the forerunners in the Subscription-based Gaming Market. Companies such as Amazon.com, Inc., Tencent Holdings Ltd., NVIDIA Corporation are some of the key innovators in Subscription-based Gaming Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nvidia Corporation, Tencent Holdings Ltd., Google LLC, Microsoft Corporation, Sony Corporation, Amazon, Inc. (Amazon Luna), Apple, Inc., Electronic Arts, Inc., Blacknut, and Shadow (OVH SAS).
Recent Strategies Deployed in Subscription-based Gaming Market
Partnerships, Collaborations and Agreements:
Oct-2022: Electronic Arts, collaborated with Marvel, a wholly-owned subsidiary of The Walt Disney Company, primarily into providing character-based media. The collaboration involves developing at least 3 games and would provide players with extraordinary experiences.
Aug-2022: Tencent partnered with Logitech G, part of Logitech International. Logitech G primarily deals in keyboards, headsets, flight sticks, etc. This partnership brings together Logitech G’s competence in hardware and Tencent’s knowledge in software services and aims to strengthen handheld cloud gaming. Logitech’s dominant market share in console gaming and PC complements Tencent’s vision to improve the gaming experience for gamers across the globe.
Aug-2022: Microsoft signed a partnership with Unity, a US-based provider of the software platform for developing and operating real-time 3D content. The partnership enables developers to use Unity engine and Microsoft Azure jointly. Moreover, the partnership aligns with Microsoft’s aim to make the development of games accessible to everyone across the world, and across all industries.
Jun-2022: Tencent partnered with Microsoft’s gaming division. The partnership involves the inclusion of some of Tencent’s games in Xbox Game Pass (Microsoft’s gaming subscription). The partnership between Tencent and Microsoft expands the reach of games developed in China.
Dec-2021: Tencent partnered with Remedy, a Finland-based company, primarily into developing video games. Under this partnership, Vanguard, a free-to-play game based on GaaS (Games as a Service) business model, would be developed and published by Remedy across the globe, and Tencent gets to publish in Asian markets. Additionally, Tencent gets the worldwide rights to develop and market a mobile-based version.
Oct-2020: Microsoft partnered with GameStop, a US-based electronic retail company, primarily into video games, merchandise, consumer electronics, etc. The strategic partnership involves systematizing GameStop retail stores with Microsoft teams and Microsoft 365 and equipping store associates with Microsoft Surface devices. Gamestop’s vast store base, and skilled gamers network benefits Microsoft by increasing customer count and revenue.
Acquisitions and Mergers:
Aug-2022: Sony acquired Savage Games, a Finland-based company, primarily into shooter-based, multiplayer games. The acquisition broadens Sony’s portfolio and complements Sony’s plan to introduce more PC and mobile games.
Jul-2022: Sony took over Bungie, a US-based video game company, primarily into developing shooting, sport-based games. This acquisition broadens Sony’s PlayStation customer reach.
Mar-2022: Glance (backed by Google) took over Gambit, an online game-focused platform, primarily into classic games. This acquisition strengthens Glance’s mobile games portfolio and expands its platform.
Sep-2021: Electronic Arts took over Playdemic, a UK-based creator of mobile games. This acquisition reinforces Electronic Arts’ mobile games team and broadens its mobile game offerings.
Product Launches and Expansions:
May-2022: Sony launched PlayStation Plus, a subscription-based gaming service. PlayStation Plus offers 700+ games for gamers to play. This launch enables PlayStation enthusiasts globally to enjoy loads of games available in the PlayStation Plus catalog.
Geographical Expansion:
Mar-2022: Amazon expanded its global footprint by launching Luna in the mainland United States. Luna is a cloud gaming service that leverages the power of the cloud allowing users to play games on devices they already possess.
Scope of the Study
Market Segments covered in the Report:
By Device Type
• PC
• Console
• Smartphone
• Others
By Genre
• Action
• Fighting
• Adventure
• Shooting
• Role-playing
• Sports
• Racing
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Nvidia Corporation
• Tencent Holdings Ltd.
• Google LLC
• Microsoft Corporation
• Sony Corporation
• Amazon, Inc. (Amazon Luna)
• Apple, Inc.
• Electronic Arts, Inc.
• Blacknut
• Shadow (OVH SAS)
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06374170/?utm_source=GNW
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