Number of global online gamers to hit 1 billion in 2024
The online gaming industry continues to engage more and more active players, and the second-largest revenue stream of the global gaming industry is forecast to grow big in the coming years.
This year the number of online gamers is expected to reach 877.3 million, according to data gathered by LeagueOfBetting.com.
If this rising trend continues in the following years, the number of global online gamers is set to hit 1 billion by 2024.
Online Games Player Base Grows 50 million Per Year
The recent years have witnessed a huge growing trend in the number of online gamers all over the world.
A study released by Statista showed that there were 731.2 million active users in the online games segment in 2017.
Since then, 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.
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 USD$17.1 billion this year, and continue rising to $17.8 billion by 2024.
40% of all Online Gamers are from China
With $4.2 billion 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.