Global MMO Games Market 2018-2022| Emergence of Gamification to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 26, 2018--The global MMO games market is expected to post a CAGR of 8%, according to the latest market research report by . However, the market is expected to decelerate on a year-over-year basis, during the forecast period.
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Technavio has published a new market research report on the global MMO games market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing popularity of online gaming industry. The online gaming industry is one of the largest economic sectors in the world, attracting a diverse audience while generating billions of dollars as revenue. It has stress-reducing abilities and requires mind and eye coordination. It also enhances the decision-making capability of the players. The online gaming industry is driven by the growing popularity of digital content. As digital content can be pre-loaded, it needs to be downloaded once and can be played multiple times across Xbox One or the PC. Thus, with the rise in digital gaming, the number of players is expected to increase during the forecast period, which augurs well for the growth of the market.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the emergence of gamifications as one of the key emerging trends in the global MMO games market:
Global MMO games market: Emergence of gamifications
The process of gamification uses game design strategies to encourage consumers to engage in the desired behavior. It also helps companies understand the knowledge and productivity of the employees. It helps them gain insight into the state of mind of the gamers, by offering rewards such as badges, leader boards, activity feeds, real-time feedback, trophy cases, avatars, and mini games. Gamification programs combine game mechanics, intrinsic rewards, and social technologies in a business context to influence employee or consumer behavior. These programs use stories, missions, incentives, and real-time feedback to change the behavior of a person in the long term, LOTRO, one of the longest MMORPGs. has communities that comprise of active players. These communities help new players learn about the gameplay, address questions, and create a sense of culture and belonging to the LOTRO community beyond entertainment purposes. Thus, the emergence of gamification has increased the footprint of the games and left deep impacts on players and the community.
“Along with the advent of gamifications, other factors boosting the growth of the global MMO games market are availability of several payment services and growth of cryptocurrency,” says a senior analyst at Technavio for research on gaming.
Global MMO games market: Segmentation analysis
This market research report segments the global MMO games market by geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share of 52%, followed by Americas and EMEA respectively. The global MMO games market experiences high economic growth in APAC mainly due to the wider smartphone penetration and the popularity of online games.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 11/26/2018 03:31 AM/DISC: 11/26/2018 03:31 AM