China's gaming market will grow to $29 billion by the end of the year
The Chinese video game industry occupies 25% of the global market and continues to grow. By the end of 2017, the turnover of the Chinese gaming market is projected at $29 billion.
This is reported by the analytical company IHS Markit.
According to their forecast, the main drivers of the growth of the Chinese gaming industry are mobile platforms and PCs.
In 2017, purchases in games and apps are expected to increase by 24%. Last year they grew by 55%.
PC accounts for half of consumer spending in 2016 — 51% or $13.1 billion out of $25.6 billion dollars.
88% ($11.5 billion) of PC gaming revenue in 2016 was generated through microtransactions.59% ($6.7 billion) of this amount was received by Tencent Corporation, thanks to titles such as League of Legends and Crossfire.
In total, Tencent earned more than $10 billion in video games in 2016.
Revenue from downloads of paid PC games in 2015-2016 increased from $54 to $ 220 million, although this amount is only 2% of the total turnover of the video game market in China.
Consoles are the weakest segment in the Chinese gaming market, although there is potential for growth here. Total sales of PS4 and Xbox One last year amounted to just under 500 thousand consoles, and revenues from digital services and other content generated $53 million.
China’s gaming market is the largest national video game market in the world.
Also on the topic:
- Tencent earned $3.3 billion on online gaming in the quarterChina’s gaming market will grow to $35 billion in 4 years
- Source: Games Industries
