The online gaming industry is finally here as a true mass market and is expected to generate revenues of $9.8 billion by 2009, as broadband acts as the driving force, says an industry research group.
According to DFC Intelligence, the online gaming market in 2003 generated $1.9 billion but high hopes are now pinned on this market taking-off in a big way over the next few year.
Asia, which currently generates over 50% of revenues for this markets, is predicted to continue as the largest online games market in 2009 but rapid expansion to £2.2 billion is expected from Europe, which currently only makes up 10% of the sector.
As the number of broadband households continue to grow rapidly worldwide, so will the online games industry. Already some of the hottest markets for online games is the highly penetrated broadband countries, such as China, Korea, Taiwan and Japan says DFC Intelligence.
There are even signs that online games are growing on a global scale with the potential to reach a broader range of demographics than the traditional video game industry, as the report says ‘what is perhaps even more exciting is the type of consumers that are using online games’.
DFC Intelligence has found that for many services, 50% are adult females – a demographic that has historically shunned video games.
However, the report is quick to point out that while online games are clearly starting to take-off, it is worth noting that this is an immature business with many of the services offered free and dependent on elusive advertising support.
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