Research and Markets has announced the addition of Subscription-based Gaming Market Report 2031 to its library. The 270-page report stated that the subscription-based gaming market is expected to reach $56 billion by 2031, growing from $17 billion in 2021.
According to the report, the subscription-based model is one of the revenue models that has become increasingly popular for monetizing games. Users subscribe to join games and pay a monthly fee to access titles and additional benefits.
Research and Markets shared that this model allows companies to enjoy a consistent source of revenue and an engaged audience that can be monetized through microtransactions and paid downloads. This way, game industry giants can avoid the risk associated with constantly releasing successful games.
The company also revealed a CAGR of 12.9% from 2022 to 2031 for the industry and shared the key takeaways as follows:
- By device type, in 2021, the smartphone segment dominated the subscription-based gaming market size.
- Depending on game type, the action segment generated the highest revenue in 2021 of subscription-based gaming market share. However, the adventure segment is expected to exhibit significant growth during the forecast period.
- Region-wise, the Asia-Pacific region dominated the subscription-based game industry in 2021.
The market research firm also mentioned that technological advancements in gaming sectors, including AI, AR, and the release of 5G, will act as some of the driving factors of the market growth. The rising popularity of cloud gaming has also been identified as an opportunity for the subscription-based gaming market. You can access the full report here.
