The Global Virtual Goods market is to grow at a CAGR of 12.5 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in the adoption of tablets and smartphones. The Global Virtual Goods market has also been witnessing market consolidation. However, the difficult financial environment and the fall in consumer spending could pose a challenge to the growth of this market.
Virtual currencies are the means to make online payments in virtual environments such as gaming. Their usage has risen in recent times with increasing demand on social networking sites and online gaming sites. In the context of games, virtual currencies are utilized to purchase virtual goods for various avatars. Online gamers also spend real money on virtual currency to purchase virtual goods such as swords, houses, or magic wands. Hence with the increase in usage of virtual currencies, the Global Virtual Goods market is witnessing growth.
The increase in the number of broadband internet subscribers globally is moving at a fair pace. With the increase in adoption of broadband internet an increase in the user base of virtual goods has been witnessed in recent years. With the increasing sales of tablets and smartphones aiding in the growth of the number of broadband subscribers, the increasing utilization of wireless technology to enter underpenetrated parts of developing countries is also playing a role in increasing broadband penetration. The key leading countries in the Global Virtual Goods market have witnessed a rise in broadband subscribers per 100 residents in recent years and this growth is expected to continue during the forecast years. In 2012, China had 13.96 broadband subscribers per 100 residents, expected to increase to 22.42 by 2016.
The key vendors dominating this market space are Facebook Inc., Gree Inc., Mixi Inc., and Tencent Holdings Ltd. The other vendors mentioned in the report are hi5 Networks Inc., Bebo Inc., Myspace LLC, Tagged Inc., Sonico.com Inc., NHN Japan Corp., CyberAgent Inc., Zynga Inc., Kabam Inc., and DeNA Co. Ltd.
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