Games of skill, a category of games which requires skills from the player in the form of dexterity, knowledge or strategic thinking, has helped the gaming industry in its development and wide expansion over the last decade, and the global games of skill market is exploring new avenues now. This expansion has helped in creating a new range of platforms for revenue generation and integrated payment solutions ranging from subscriptions fees, pay-per-play, in-app purchases, royalties to premium account and upgrade remunerations. The users in developed countries are familiar with the online paid games, however, among the developing economies, there was inhibitions regarding the online payment gateways initially, but now the user base is adopting the real money online games, thus becoming a loyal revenue base for the industry.
Being at the forefront of technological development and adopting new models of media consumption, North America has a mature market, making online games of skill market a multi-billion dollar industry. Thus, it will witness a slow growth during 2016 to 2022. On the other hand, Asia pacific region, with two of the largest developing nations in lead- India and China, is expected to become a multi-billion dollar market by 2025. The estimated growth will be driven by increasing penetration of internet and availability of low-cost smartphones in the region. A large share of the population of this region is youth and they are finding new ways of recreation, so, along with rising income, this is affecting the market trend positively.
Among all types of games offered online, strategy games and brain games are contributing the largest share to the online games of skill market, and will continue leading the market in the coming years. The amazing success of games such as Clash of Clans, Game of War: Fire Age and Puzzles and Dragons, has helped in generating high revenue for the industry. These games bring in billions in revenue every year and are top grossing games in many countries. Games such as online poker, rummy and blackjack are card based games and these come second in generating revenue for the online game of skills market. This share is because of the large amount of wagering on online poker in North America, Europe and India, and also because of the increasing popularity of online rummy in Indian subcontinent.
The variety of games being offered in the market has widened over the years, but it has simultaneously become difficult to retain the attention of consumers for a long time. With this wide variety of games, being offered to accommodate different tastes and preferences of the consumers, the online gaming industry has developed a stronghold in the market, although only a few category of games generate the maximum revenue in the market.
BIS Research has compiled an extensive market research report on ‘Global Online Games of skill Market– Analysis & Forecast 2016 -2022’. The market analysis report provides an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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