Booming Chinese games market revenue predicted to reach $3.8 billion by New Year
According to the market researchers Niko Partners, the Chinese video games market is absolutely booming with estimated revenue of around 3.8 billion USD.
The year 2008 was also an impressive year with confirmed revenues of 2.75 billion USS. As much as 77 percent of this revenue was earned through online gaming. The remainder was classified primarily as casual gaming.
2008 was also an impressive year for the growth of the gaming population. Reports suggest there was a 26 percent rise which resulted in a total figure of 58 million gamers. China also houses 170 thousand internet cafés and over twenty million personal computers. The projected total for 2012 is already as high as 120 million.
Lisa Cosmas Hanson, the managing partner of Niko Partners said
“Average spending per Chinese gamer is rising to the point where a 26 per cent increase in gamers resulted in 61 per cent more revenue for online games in 2008,”
The estimated compound annual growth of the Chinese gaming industry is estimated at an impressive 26 percent during the next half decade. Revenues during the period are expected to push up to 8.9 billion USD. Incredulously, video gaming consoles are illegal in the country, whose gamers rely on black market importers.
There’s been a massive upward trend with gamers throughout China playing online games which seem to attract both casual and dedicated players.
“Niko’s conclusion is that China’s online market has plenty of room for growth in the next five years, and much of that growth will come from beyond the major metropolises where the number of Internet cafés, home PC penetration and Internet usage are all on the rise,”