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Information technology services industry

Global Virtual Goods Market to Reach USD 203.6 Billion by 2028

Strategic Insights

— 1 min read

The global virtual goods market generated revenue of around USD 67.5 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of over 20.2% during the forecast period from 2022 to 2028, reaching a value of around USD 203.6 billion by 2028. This growth is driven by the increasing demand for virtual goods, particularly among young people, and the rise of social gaming. The market is segmented by age, gender, and geography, with the Asia Pacific region holding a significant share due to the substantial demand for virtual goods in China and other Southeast Asian countries.

Key Takeaways:

  • The global virtual goods market generated revenue of around USD 67.5 billion in 2021 and is expected to grow at a CAGR of over 20.2% from 2022 to 2028.
  • The market is driven by the increasing demand for virtual goods, particularly among young people, and the rise of social gaming.
  • The Asia Pacific region holds a significant share of the market due to the substantial demand for virtual goods in China and other Southeast Asian countries.
  • The market is segmented into age (13-25, 25-35, 35-45, and 45+) and gender (male and female) categories.
  • Key players in the market include Facebook Inc., Gree Inc., Mixi Inc., Tencent Holdings Ltd., hi5 Networks Inc., Bebo Inc., Myspace LLC, Tagged Inc., Zynga Inc., and Kabam Inc.
  • The market is expected to witness significant growth due to the increasing adoption of mobile devices and the rise of social media platforms.

Statistics:

  • The global virtual goods market generated revenue of around USD 67.5 billion in 2021.
  • The market is projected to grow at a CAGR of over 20.2% during the forecast period from 2022 to 2028.
  • The market is expected to reach a value of around USD 203.6 billion by 2028.
  • The Asia Pacific region is expected to hold a significant share of the market in 2021, accounting for around 40% of the global market.

Sources:

  • Credence Research, "Global Virtual Goods Market Report"
  • "Global Virtual Goods Market Growth - Analysis and Forecast 2022 - 2028"

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