Recently, the “Mobile Game Market Insights under the Metaverse Concept” (hereinafter referred to as the “Report”) released by the game industry analysis agency Sensor Tower shows that the total revenue of Metaverse applications in the first half of 2022 is US$650 million, of which game application revenue. The proportion is as high as 94%.
“The concept of Metaverse is not limited to the field of games, and the original virtual attributes of games are naturally easy to associate with the Metaverse.” Ding Daoshi, a self-media person, told the reporter of “China Business News” that the game industry is becoming the development of Metaverse. breakthrough.
Such a development trend is also in line with the market’s judgment on the Metaverse. Today, with the continuous development of the Metaverse industry, major economies in the world such as China and the United States have increased their presence in this field.
Games become a breakthrough in development
2020 is a year of rapid development for the Metaverse. That year, the number of downloads of the global Metaverse application exceeded 200 million, with a growth rate of 43.5%; by 2021, the data will increase by 71.7% year-on-year and reach 350 million.
The increase in downloads also drove the year-on-year increase in Metaverse industry revenue. In 2020, the total global Metaverse application revenue exceeded US$1.26 billion, an increase of over 112% over 2019. An all-time peak of $1.51 billion in 2021.
The “Report” shows that during the first half of 2022, global Metaverse applications have been downloaded 170 million times, of which game applications have been downloaded 110 million times, accounting for 67.3%. During the first half of 2022, the total revenue of Metaverse applications was US$650 million, of which game application revenue accounted for as high as 94%.
Ding Daoshi said: “The concept of the Metaverse is not limited to the field of games, and the original virtual nature of games is naturally easy to connect with the Metaverse. The game industry is becoming a breakthrough for the development of the Metaverse. At present, in the early stage of the development of the Metaverse At this stage, games account for the vast majority of shares, production value and investment, there is no doubt about this.”
International Data Corporation (IDC) predicts that, as an early carrier of the Metaverse , games are expected to continue to strengthen online and offline linkages in games in 2022. In 2022, game companies related to the Metaverse concept are expected to launch more game content that combines online game operations with offline real scenes, and the linkage between virtual and reality will be enhanced.
Today, the properties of the Metaverse’s virtual social network are helping it open up quickly. The “Report” pointed out that in the first half of 2022, 87% of Metaverse mobile game downloads came from the simulation category, of which the sandbox game market share was as high as 97% in this category. The download volume of Metaverse games in the life entertainment category accounts for 5%, and it is mainly based on character customization with high flexibility. Some chess and card games are associated with NFT technology, and use slot machine gameplay combined with bitcoin revenue as a promotional point, contributing 1% of the download share.
Driven by the concept of the Metaverse, the Meta social and game sectors have developed in an all-round way. The reporter noticed that in July 2021, Meta announced that it would transform into a Metaverse company within 5 years, and then it would make a multi-point layout around the Metaverse field, and then transform to an emerging computing platform mainly based on virtual reality.
According to a report released by China Galaxy Securities Research Institute, VR (Virtual Reality) games are currently valued by Meta as a convenient way for people to understand and contact the Metaverse. The company has acquired VR game companies ReadyAtDawn, Downpour Interactive, BigBox, etc. to promote the content side develop. At the Meta Quest 2022 game exhibition, Meta exhibited a total of 20 games, of which the VR music game “BeatSaber” has brought the company more than $100 million in revenue.
At the same time, with the popularity of the Metaverse concept, consumers have shown more interest in the Metaverse.The epidemic has made users have higher demands for online office and online social networking, and at the same time, their willingness to consume digitally has also increased. The immersive experience brought by the Metaverse concept fits well with the actual needs of users.
Overweight layout in multiple places to grab the market
The above-mentioned “Report” shows that in the Metaverse game, “Roblox” has significantly increased its downloads and revenue in the United States, its largest market. And its influence in the Asian (especially Southeast Asia) market has gradually increased. During the first half of 2022, “Roblox” ranked first in the download and best-selling charts of Metaverse concept games in the United States, South Korea, Japan, and many regions in Southeast Asia. It is worth mentioning that the user spending it brings on a global scale accounts for 70% of the total user spending of the entire Metaverse game.
As Meta, Microsoft, NVIDIA and other companies have successively deployed in the Metaverse field, the current US market has become the region with the highest acceptance of the Metaverse concept. The “Report” mentioned that the overall download volume of Metaverse games in the US market has been leading the world since 2019. During the first half of 2022, the U.S. market has nearly 14 million downloads of Metaverse games, 2.5 million more than the second-placed Brazil.The U.S. market is also the main source of revenue for Metaverse games, with a total revenue of nearly $300 million in the first half of 2022, with a market share of over 48%.
According to a report by the China Galaxy Securities Research Institute, American Internet companies rely on the underlying technology to expand the Metaverse path with the Internet platform. Thanks to the United States taking the lead in introducing the concept of the Metaverse and encouraging investment in parallel with active regulation, the relaxed regulatory environment has stimulated the prosperity of the blockchain and digital currency fields. At the same time, after years of technology accumulation and layout, overseas Internet companies have formed certain technical barriers in the underlying hard technologies of the Metaverse, such as cloud computing, artificial intelligence, AR/VR/MR, etc., and maintain a leading position in the construction of the global Metaverse industry. .
In addition, the “Report” pointed out that in addition to the United States and Brazil, the popularity of Metaverse games in Asia has also increased rapidly, including Vietnam, Indonesia, India and other countries. The number of downloads exceeded 5 million in the same period, and it is expected to become the next growth outlet. . Among the Asian markets, South Korea has the most outstanding performance, which is mainly due to the strong social attributes of Metaverse games and the high degree of compatibility with Korean players.
At present, my country is also vigorously supporting the development of Metaverse-related industries. According to the “14th Five-Year Plan for the Development of Digital Economy”, by 2025, the digital economy will enter a period of comprehensive expansion, the added value of the core industries of the digital economy will account for 10% of GDP, the ability of digital innovation to lead development will be greatly improved, and the level of intelligence will be obvious. The integration of digital technology and the real economy has achieved remarkable results, the governance system of the digital economy has been improved, and the competitiveness and influence of my country’s digital economy has steadily increased.
Ding Daoshi mentioned: “Metaverse includes artificial intelligence, big data, Internet of Things, blockchain, 3D engine, communication technology, VR/AR technology equipment and many other technologies or products, involving many upstream and downstream institutions in the industry chain. and business.”
In contrast, my country’s development in the Metaverse field also has its own technological and market advantages. The Galaxy Securities Research Institute report pointed out that after the rise of the Metaverse concept in the United States, giants such as Tencent, Byte, and Ali have rapidly deployed their integrated business advantages. On the whole, my country is still following and catching up in terms of underlying technology, but thanks to its strong infrastructure capabilities, population size advantages and the big data behind it, it is expected to explode with great potential.
At present, many places in China have issued documents expressly supporting the development of the Metaverse industry.
On July 8, Shanghai released the “Shanghai Action Plan for Cultivating “Metaverse” New Track (2022-2025)”, which supports the use of cloud rendering, artificial intelligence, blockchain and other technologies to develop, produce, program, and re-develop We will focus on cultivating a group of original meta-games with strong brand appeal and international competitiveness.
In addition, Beijing, Hangzhou, Wuhan and other places have issued policies related to the Metaverse and the digital economy to promote the development of related industries.
Driven by policies, enterprises have also begun to accelerate their layout.
Among them, Metaverse-related companies that Sanqi Interactive Entertainment has completed investment or acquisition include Archiact, WaveOptics, Raxium, Digilens, Chenjing Technology, Yingmu Technology, etc.
In addition, people from Caesars Culture told reporters that Caesars Culture has already made some investments and layouts in the VR field in the past few years. After the rise of the concept of Metaverse in 2021, the company has integrated technologies such as AI, VR and cloud computing, so that there is no difference between them. No matter how isolated it exists, it also drives the development of VR games. The person said that Caesars Culture is currently setting up a special team to explore this field, which is a forward-looking layout.
On the other hand, some businesses remain on the sidelines as the Metaverse is in the early stages of development. A person from a game company told reporters: “The development momentum of the Metaverse concept is predictable, but the current main direction in the game field is still mainly mobile games, and where is the development direction of Metaverse games going? There is still a lot of uncertainty.”
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/games-become-the-main-force-of-the-metaverse-94-of-revenue-in-the-first-half-of-the-year/
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