Renub Research predicts that the China Online Game Market will surge to a remarkable US$ 90.52 Billion by 2027, driven by a robust Compound Annual Growth Rate (CAGR) of 8.45%. China has established itself as the foremost video game market worldwide, leveraging this industry to drive significant growth. Its position as one of the most digitally advanced countries on the planet has made it a highly sought-after destination for foreign gaming companies looking to expand their activities. The growth and influence of the emerging Chinese online gaming industry are:
- A reflection of the size of the local and international market.
- The incredible technological advancements of IT.
- The nature of gaming as a low-cost form of entertainment.
- The importance of regulative policies promoting online gaming developments.
The impact of broadband connectivity to the home has been explosive for China’s online gaming industry. This has led to substantial growth in the sector, as faster processing hardware enables the development of more advanced games.
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China’s video game player count has peaked, with 668 million gamers by the end of 2023, showing a slight increase from 666 million by the end of 2022. The combined expenditure of these gamers on online games was 303 billion yuan (US$42 billion), equivalent to about US$63 per gamer in the past year. This amount is roughly a quarter of the amount spent by US gamers. There are numerous reasons behind the significant growth of China’s online gaming market in recent years. China has the most extensive online population worldwide, with over 900 million internet users. High-speed internet has become more affordable and widely available, making online gaming accessible to a broader audience.
China’s middle class has witnessed an incredible surge in growth, allowing them to have more disposable income. Consequently, increased spending on entertainment – primarily online gaming – has been observed. In China, mobile gaming has emerged as a significant driver of the online gaming business, with over 600 million mobile gamers. The widespread use of smartphones and the emergence of mobile gaming platforms have contributed to the tremendous expansion of mobile gaming.
Overall, the factors that have driven the Chinese online gaming industry’s growth are numerous, including technology, demographics, culture, and government legislation. These elements will continue driving the industry’s growth in the coming years.
Category: China’s Online Gaming Market breakup into three types (Mobile Gaming, Client Gaming, Web Gaming)
User: – China’s Online Gaming Market breaks up into two types (Male, Female)
Age Group: – China’s Online Gaming Market breaks up into five types (18-24 years, 25-34 years, 35-44 years, 45-54 years and 55-64 years)
Key Players: All key players have been covered from 3 points such as (Overview, Recent Developments, Financial Insights)
Company Analysis
- NetEase
- Tencent
- 37 Interactive Entertainment
- Zhejiang Century Huatong
- Net Dragon
- King net Network
- Yoozoo Interactive
- Perfect World Entertainment
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