A rapidly growing $75 billion industryIt is no secret that the video gaming industry has been growing rapidly over the last two decades. With online gaming content becoming more readily available, Internet penetration increasing and gaming compatible mobile devices becoming even more prevalent, the number of (online) gamers is now over 1,3 billion.
By the end of 2014, the global video gaming market was worth approximately $75 billion and is estimated to grow to $90 billion over the next few years. When it comes to gamers spending money on playing, the preferred payment methods are still credit and debit cards. In developing countries, e-wallets, cash-based payments and prepaid cards prevail.
United States is #1, but emerging markets show great potentialThe world's #1 video gaming market with $25 billion in revenues in 2014 is the United States. Other important contributors to the total market worth are the United Kingdom, Canada, Russia, France and Germany. Emerging new markets in Turkey, Argentina, Brazil, Poland, China and India show great potential for the gaming industry.
The future is mobileMobile games are the fastest-growing segment of the market, with a predicted $30 billion revenue in 2015. With mobile gaming growing so rapidly, it is not surprising that mobile payments are projected to be the preferred payment method in the video gaming industry in the (near) future.
Another trend is that gamers are moving more and more from other devices to tablets. This – among other reasons – is why tablet sales are expected to increase from 10.3 million units in 2010 to 44 million units in 2015. In 2014, American consumers alone spent $25 billion on video games, hardware and accessories. And with the expected extension of mobile games to new devices such as smartwatches and smart TVs, this number is predicted to grow significantly in the next few years, and not only in the United States.
Download reportHere you can download your copy of eMerchantPay's Global Video Gaming Report 2014.
About eMerchantPayeMerchantPay is a payment service provider that provides international online, mobile and POS payment processing services to merchants across the globe. eMerchantPay’s fraud prevention services and payment processing solutions enable merchants to increase their conversion rates, expand their customer reach and prevent fraud. Innovative payment solutions, processing in more than 150 currencies and various languages, plus dedicated account managers providing personal service make eMerchantPay a knowledgeable specialist and an innovative partner for businesses of all types and sizes.
Sourced from Press Release by eMerchantPay, June 19th, 2015