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Metaverse Gaming - China

China

The projected value in the Metaverse Gaming market in 2024 is estimated to reach US$2.9bn.
This market is expected to demonstrate a compound annual growth rate (CAGR 2024-2030) of 38.57% percent, resulting in a projected market volume of US$20.6bn by 2030.
The United States is the primary generator of value in the Metaverse Gaming market, with a projected market volume of US$7.5bn in 2024.
In terms of user base, the number of users in the Metaverse Gaming market is expected to reach 189.1m users by 2030.
The user penetration rate is projected to be 4.6% in 2024 and is anticipated to increase to 13.3% by 2030.
Moreover, the average value per user (ARPU) is expected to amount to US$44.3.
It is worth noting that these projections and figures are specific to the Metaverse Gaming market, and these insights may vary across different countries, including in China.
China's Metaverse gaming market is booming, fueled by a tech-savvy population and a strong gaming culture.

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Analyst Opinion

The Metaverse Gaming market in China has been experiencing rapid growth and development in recent years.

Customer preferences: Chinese consumers have shown a strong preference for immersive gaming experiences, which has fueled the growth of the Metaverse Gaming market. They are increasingly seeking more interactive and engaging gaming experiences that allow them to escape from reality and explore virtual worlds. The Metaverse Gaming market offers them the opportunity to do just that, with its virtual reality (VR) and augmented reality (AR) technologies.

Trends in the market: One of the key trends in the Metaverse Gaming market in China is the integration of social networking features. Chinese gamers are highly social and enjoy interacting with others while playing games. The Metaverse Gaming market has responded to this preference by incorporating social networking features that allow players to connect with friends, join communities, and even attend virtual events together. This trend has contributed to the popularity of Metaverse Gaming in China and has further fueled its growth. Another trend in the market is the increasing popularity of eSports in China. eSports refers to competitive video gaming, and it has gained a massive following in the country. The Metaverse Gaming market has capitalized on this trend by hosting virtual eSports tournaments and creating virtual arenas where players can compete against each other. This has not only attracted more gamers to the Metaverse Gaming market but has also created new opportunities for revenue generation through sponsorships and advertising.

Local special circumstances: China has a large population of tech-savvy consumers who are eager to embrace new technologies. This has created a favorable environment for the growth of the Metaverse Gaming market. Additionally, the Chinese government has been supportive of the development of the gaming industry, providing incentives and favorable policies to encourage innovation and investment. This has further propelled the growth of the Metaverse Gaming market in China.

Underlying macroeconomic factors: China's strong economic growth and increasing disposable income levels have also played a significant role in the development of the Metaverse Gaming market. As people have more money to spend on entertainment and leisure activities, they are willing to invest in high-quality gaming experiences. The Metaverse Gaming market offers a unique and immersive form of entertainment that appeals to this growing consumer base. Furthermore, advancements in technology and the increasing affordability of VR and AR devices have made Metaverse Gaming more accessible to a wider audience in China. This has led to an increase in demand for Metaverse Gaming experiences and has driven the growth of the market. In conclusion, the Metaverse Gaming market in China is experiencing rapid growth and development due to customer preferences for immersive gaming experiences, the integration of social networking features, the popularity of eSports, favorable local circumstances, and underlying macroeconomic factors. As the market continues to evolve and expand, it is likely to present new opportunities for innovation and investment in the future.

Methodology

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.