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CHINA'S GAMING MARKET CONTINUES TO GROW
03/26/2012 : CHINA'S GAMING MARKET CONTINUES TO GROW
Latest statistics on internet gaming in the wider sense give an indication of the immense potential of China
New research statistics on internet gaming in China in its widest sense (as opposed to online gambling per se) give an indication of the massive size and potential of this populous and economically active Asian nation.
Researchers report that the overall online gaming market in the country is up 20.7 percent in revenues year-on-year and is set to pass US$ 8.84 billion this year, soaring to US$ 13 billion by 2014.
The wider availability of the internet, allied to better bandwidth and speed technologies is driving the growth, with China now the world’s largest internet user base, representing 23 percent of the global online population with broadband penetration set to grow at a compound annual growth rate (CAGR) of around 21 percent.
The market currently comprises five types of online games, including massively multiplayer online games, first-person shooter, racing/simulation, adult/gambling games and puzzle/strategy offerings.
Emerging trends focus on research and development, especially in online 3D games, and the indications are that Chinese developers have ambitions for overseas expansion, investing heavily in R&D, upgrading existing 3D games, and releasing new products.
Those international ambitions are showcased by the growth in game exports, which last year soared 82 percent.
Chinese technology companies are well aware of the potential of the mobile sector, research suggests, reporting revenues up 86.8 percent to 1.7 billion yuan in 2011 alone, according to The Online Gaming Market in China 2012, which predicts that intense interest in the mobile channel will continue through 2012 and in future years as the evolution of smartphones marches on.
According to the China Internet Networks Information Centre, this Asian giant now claims the world's largest internet population, which reached 485 million by at the end of June 2011, and is expected to exceed 600 million during 2012.
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