Number of online gamers to hit One billion by 2024

As the second-largest revenue stream of the global gaming industry, online games continue engaging more and more active players.

According to data gathered by  LeagueOfBetting.com, the number of online gamers is expected to reach 877.3 million this year. The rising trend is set to continue in the following years, with the number of players jumping to 1 billion by 2024.

Online Games Player Base Grows 50 million Per Year

Online Games segment refers to multiplayer internet gaming, and social gaming played directly in the browser or through installed apps. It includes both free-to-play games with in-game additional premium content buys, like Fortnite, and subscription-based ones such as World of Warcraft. The revenue of the global online games industry is expected to reach $17.1bn this year, and continue rising to $17.8bn by 2024.

The recent years have witnessed a huge growing trend in the number of online gamers all over the world. In 2017, there were 731.2 million active users in the online games segment, revealed the Statista online games survey. In the last three years, the number of online gamers had been increasing by nearly 50 million per year. The 2020 data indicate user penetration in the online games segment is set to reach 11.8% this year and continue growing to 13.0% by 2024.

The statistics indicate that 37% of all online gamers are Millennials, aged between 24 and 35 years old, with 60% being male with medium and high income.

40% of all Online Gamers are from China

With $4.2bn revenue in 2020, China represents the leading online gaming market in the world. The statistics also show the number of online gamers in the country is expected to reach 324.5 million this year, or nearly 40% of all online game players in the world.

In the last three years, the number of users in the Chinese online games segment increased by nearly 30 million. However, in November 2019 the Chinese government imposed a curfew on online gaming for minors, especially between 10 pm and 8 am. The new rules came as a part of the plan against video game addiction.

Besides the curfew, all minors are restricted to 90 minutes of online gaming per week and three hours on weekends and holidays.

New government rules are expected to slow down the strong rising trend in the Chinese online games segment. The 2020 data indicate that the number of online gamers in the country is forecast to increase around 1.5 million per year, reaching 330.6 million in total by 2024.

https://www.bmmagazine.co.uk/in-business/number-of-online-gamers-to-hit-one-billion-by-2024/