Online Adventure Games - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Online Adventure Games - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Online Adventure Games Market is valued at USD 14.78 billion in the previous year and is expected to grow at a CAGR of 9.49% during the forecast period to become USD 25.94 billion by the next five years. The market is driven by the trend of obtaining virtual experiences through gaming. The Users' characters intentions develop and pick up new skills as they face difficulties in the adventure game genre, allowing players to experience their heroes' journey. Experienced gamers frequently rate the best adventure games among their favorite genres, demonstrating that the appeal of their timeless gameplay always seems to remain the same.

Key Highlights

• Emerging technologies like VR and AR are developed and designed to increase the experience standard of users, which is driving the Online Adventure Games Market. Technology is also advancing in the market to keep pace with the changing demand of users. The regular update of the games can also be possible through this technological modification, which creates continuity in the business for the games in the market. Following the launch of the Xbox Game Pass subscription, Xbox games have also been more widely available on other platforms, such as iOS, Android, and web browsers. For example, a brand-new interactive crime drama adventure game called Dusk Falls.
• In the words of NewgenApps, a provider of Artificial Intelligence, Big Data Analytics, and AR/VR solutions, the international user base of VR and AR games is anticipated to increase to 216 million users. It will be worth USD 11.6 billion by 2025. Further, according to a worldwide survey of technology company executives, startup founders, and investors, 59% of the respondents believe that gaming will dominate the investment directed to developing VR (Virtual Reality) technology.
• The increasing penetration rate of the Internet across the globe is driving the Global Online Adventure Games Market. Most of the regions around the world are transitioning toward a 5G network because of which, with better network speed, high-end games are functioning at their ultimate level. For example, 5G allows users to enjoy games on the cloud without sacrificing their gaming experience, while previously, users had to download the games to play them. This will enable consumers to free up space on their computers, consoles, and mobile devices. Another major headache for gamers is downloading video game updates, which are typically much more extensive (1 GB) than the standard 5-10 MB updates and take considerably longer. With 5G, downloads will be much faster. According to 5G Americas, as of 2023, there are an estimated 1.9 billion fifth-generation (5G) subscriptions worldwide. This figure is forecast to increase to 2.8 billion by 2024 and 5.9 billion by 2027.
• The number of smartphones and Computers is rising, further enhancing the market growth. Smartphones with good-quality RAM support make online games run smoother, and users gain the best experience. For example, Mid-segment cell phones with taping rates of over 1 Gbps and a latency of 10 ms were connected to a 3500 MHz high-capacity spectrum band. Therefore, gamers and companies have agreed that 5G technology would affect the effectiveness and enjoyment of online adventure games.
• According to IBEF, India's smartphone market revenue crossed USD 38 billion recently with a 27% YoY growth, with the significant player being Xiaomi with a 24% shipment share. India's smart TV market grew by 74% yearly in the second quarter of 2022, with Xiaomi being the major player with a 13% market share, followed by Samsung at 12%.
• Online game users need to give credentials for playing games, and they must provide specific access to the application for smooth functioning. Because of this, the security and privacy of the customers are at risk, limiting the Global Online Adventure Games Market. For example, according to the business, A hacker shared various internal documents online that were allegedly taken from a Roblox employee by cybercriminals using social engineering techniques. The attacker published a 4GB library of papers and several photos in a Roblox forum post. Roblox is an application where users can engage in games created by others, build worlds of their own and use micropayments to profit from them.
• As user participation and spending increased throughout the COVID-19 pandemic, gaming swiftly became one of the most popular pastimes during the outbreak. Particularly younger generations, Gen Z and Millennials spent more time playing online games because it was an easy way to pass the time amid initial lockdowns, stay-at-home orders, and social isolation. Because of this, the Pandemic has positively impacted the overall Online gaming and the Global Online Adventure Games Market.

Online Adventure Games Market Trends

Increasing Internet Penetration Rate and Technologically Advanced Electronic Devices

• 5G is certainly the most enduring technology of this decade. The future appears to connect online games and cell phones with their faster and more stable signal strength. This cutting-edge technology will likely be available on mobile devices, giving gamers a lag-free experience. For example, At SXSW, Verizon and Doug Liman's 30 Ninjas revealed that they are collaborating on an augmented reality adventure thriller that will fully utilize the capabilities of the 5G Ultra-Wideband for an incredibly immersive experience. Novelab, a France-based immersive studio, will also be involved.
• Further, the increasing application of immersive technologies, such as VR, AR, and mixed reality, will be a cornerstone for the console. Users can improve their experience by 20 times more enjoyable and convenient than traditional alternatives. According to ZarkCentralreport, 49 % of the US people use dedicated gaming consoles to play games. But the consoles ranked third in their report regarding the number of gamers using dedicated consoles. In addition, in February 2022, Sony announced its new VR headset for the smash-hit game console, PlayStation 5. The headset contains a 110-degree field of view with a 4K HDR resolution of 2000x2040 per eye using an OLED screen with a 90/120 Hz frame rate and vibrating feedback with eye-tracking Controllers to give haptic feedback for immersive games are also part of the headset.
• Companies like Intel and AMD are developing new technologies and products to provide higher processing and better gaming performance. For instance, in January 2022, Intel and AMD launched their latest mobile CPUs at CES 2022. The new CPUs include Intel's 12th Gen Alder Lake H-Series and AMD's Ryzen 6000 Mobile Series processors.
• Multiple telecom operators are acquiring spectrums to increase their 5G connection coverage in reducing the latency lag, thus, providing a smooth gaming experience. For instance, Verizon has recently outlined its plans to expand 5G coverage using the spectrum obtained in the recent C-band auction. In addition, T-Mobile also announced that it will launch a 5G-based By 2024, the home network will be available. In the United States, this aims at expanding coverage to previously overlooked rural areas.. Also, in February 2022, Focus Entertainment acquired Metal Slug Tactics and Rogue Lords developer LeikirStudio. This acquisition validates the multi-production strategy and makes the Leikirstudio the 5th developing studio integrated into the Focus Entertainment company.
• Players from all over the world are in for a challenging online gaming experience. Additionally, gamers worldwide can compete with one another by utilizing the metaverse if they are all a part of the same virtual environment. By implementing this technology, the gaming sector hopes to realize its potential fully. Gamers will be able to design their own virtual spaces that replicate the actual world thanks to the metaverse reality.
• Further, In January 2022, Microsoft Corp announced plans to acquire Activision Blizzard Inc., a game development and interactive entertainment content publishing company. This acquisition will enable Microsoft's game business to expand across mobile, PC, console, and cloud platforms and supply metaverse building blocks. Microsoft will pay USD 95.00 per share for Activision Blizzard in an all-cash deal for USD 68.7 billion, including Activision Blizzard's cash. Warcraft, Overwatch, Diablo, Call of Duty, and Candy Crush are among the legendary franchises from Activision, Blizzard, and King Studios that will be acquired and global eSports operations through Major League Gaming.
• High-tech technology for the game is in trend and driving the Global Online Adventure Game Market by giving more real-time experiences to the users. For example, with its hyper-accurate hardware simulation of the Game Boy Advance, SkyEmu, a new GBA emulator, claims to be able to run games that other programs cannot. SkyEmu has released version 1.0 and is accessible on GitHub. It claims a "very accurate" emulation of Game Boy Advance hardware and great features like save states with screenshot previews and rewind capability.

Asia Pacific is Expected to Hold the Significant Market Share

• The Region consists of rising economies such as India and China. The technological advancement in Japan and South Korea is also fuelling the market expansion in the Region. The rising usage of smartphones, cheaper internet, and the current trend of virtual games are driving the Online Adventure Games Market in the Region. China has a rich history, and at present, gaming companies are developing adventure game apps to tap the market in the country based on history. In November 2022, Chinese studio Papergames announced Infinity Nikki, an open-world dress-up adventure game for PlayStation 5, PlayStation 4, PC, iOS, and Android.
• Further, the Three Kingdoms period in Chinese history lasted from 220 to 280 AD. Seasoned gamers are probably most familiar with it because of the Dynasty Warriors series from Koei Tecmo. Most of the time span is covered by River City Saga, which covers the events from the Yellow Turban Rebellion through the Battle of the Red Cliffs in six volumes. 24 characters may be unlocked and played. In addition to a Bonus Mode named "China Heroes" that enables a 4-player local and online co-op, the game has a Story Mode with a 2-player local and online co-op. Both game modes employ somewhat unique gameplay, with Bonus being purely an arcade-style adventure and Story incorporating action RPG features like leveling up through XP.
• Smartphone sales are skyrocketing in India and China, which can drive the Region's Global Online Adventure Games Market. The rising technology adoption in the Region, such as VR and AI in gaming, is also helping the market growth. For example, the experience that players get when playing video games has undoubtedly been enhanced with the introduction of artificial technologies. This is since there is a greater level of interaction and competition between human gamers and NPCs. This AI-driven non-human persona provides more equitable competition and invites vitality and innovation. However, competition between people can never reduce interest in online gaming.
• Cloud gaming is an emerging technology across the gaming industry, which permits the user to stream high-end games across hand-held devices, such as tablets, laptops, and mobiles, with fast network connectivity, thereby eliminating the necessity for a regular hardware upgrade or a gaming console or laptop or PC. Such factors are expected to impact the market's growth favorably. In January 2022, Celcom announced introducing its first cloud gaming service. Celcom has partnered with Radian Arc and Blacknut to offer Celcom users access to over 400 premium cloud game titles for only RM40 per month, a first in Malaysia. Collaborations by the companies will boost the new technical developments in the gaming sector, which will drive the studied market in the Region.
• The network providers in various regions, with the help of their own 5G networks, are also emerging in developing their games product line, which includes Online Adventure Games also. For example, the third-largest telecom provider in India has partnered with Nazara to launch its gaming service, Vi Games, to monetize its mobile subscriber base. Vi consumers will have access to various gaming materials, including well-known game titles from numerous brands in India, on its gaming platform thanks to this deeply integrated connection.
• Moreover, Japan is one of the prominent players in the gaming market in the world after China and the United States. With the rapid maturation of technological adaption and the existence of many leading gaming companies, such as Nintendo, Sony, Konami, and others, for decades in the country, the country's adventure gaming market is evolving and is anticipated to increase significantly during the forecast period. In addition, the Japanese publisher Sega has recently entered into a collobration with Microsoft in order to develop its Super Games Platform using Windows Azure cloud services. This platform allows major game development to take place in the next generation of environment for developing games.
• Furthermore, several global players have entered the market through investment opportunities such as partnerships and acquisitions. For instance, in February 2022, Sony Interactive Entertainment acquired Destiny developer Bungie. This acquisitions PlayStation Studios to collaborate and gain access to Bungie tools to develop new entertainment content for PlayStations.
• Moreover, South Korean online video games to run on a blockchain, Kingdom Under Fire, an internationally popular South Korean online video game, will be operated on blockchain in 2022. Also, Bloom Technology, the game's creator, had successfully run the game on an internally created .blockchain called Locus Chain without depending on game servers.

Online Adventure Games Industry Overview

The Online Adventure Games Market is highly fragmented and extremely competitive because many players are coming up aggressively with good products. In addition, all the companies are developing newer versions regularly to match the customers' demand, making the market fiercer. Companies are investing heavily in research and development to have a competitive advantage to gain market share.

• July 2022 - Three new slot games for mobile and the web have been added, Inspired Entertainment, Inc. is pleased to announce. The three launch games are Fruit Mix, Animal Antics, and Totem Thunder, and they each offer a variety of adventure games and gameplay genres.
• July 2022 - A payment platform called Nuvei Corporation stated that it is expanding its collaboration with online gaming company Eyas Gaming to offer the operator a complete payment solution across all its iGaming brands. Players at Eyas Gaming can now bill deposits directly to their mobile devices thanks to a partnership between Nuvei and UK-based direct carrier billing service provider Fonix.

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