04/26 ’12 Korean online gaming market is the most innovative on the earth
As per completely new study from DFC Intelligence, South Korea is the most advanced market destination on earth for online games. With the speediest broadband internet processing speeds and well over 80 percents residential high speed internet penetration, Korea persists to pioneer the business model for web based games. DFC expects that the niche for Korean virtual games will grow at a CAGR of 9.7% from $2.7 billion in year 2011 to more or less $5 billion by 2016. Much of this earning will arise from clients buying web-based practice and purchasing online content.
"It is often thought that most games in Korea are played at Internet cafes, or PC Bangs," suggested DFC observer Insun Yoon. "While that is an important part of the market, most Korean publishers generate over 85% of revenue from consumers playing in the home." Korea has the highest per capita spending on computing device games on the planet and as suggested by Yoon comparable increase is more likely to take place in additional marketplaces as broadband internet to the housing improves.
In accordance with the report much of Korea's market results can be attributed to a almost ideal infrastructure including a public ID for authentication, distinctive payment means, cheap high speed broadband that has essentially total absorption, serious experienced game player leagues, and cable stations devoted to online games. Nonetheless the Korean market place is not without its challenges and tough situations. "There is a problem with market saturation and it now takes really innovative products to standout from the pack", says Ms. Yoon. In addition, virtual games have was given somewhat of a destructive stigma. By way of example, in late last year the Korean government created a Shutdown Law that disallowed children to play games after 12 am.
Despite having the challenges Korea is noticed as a model for the methods game marketplaces around the globe would be able to establish as the international technology structure commences to catch-up with the commercial infrastructure in Korea. "Korea is an example of what happens when you give consumers access to games online," says David Cole president of DFC Intelligence. "The rest of the world is just starting to catch-up to Korea."
The report named The Korea Game Market is available from DFC Intelligence. DFC Intelligence is an intelligent industry investigation and consulting firm focused on online entertainment and the developing video gaming, online gaming, interactive entertainment and portable game markets. Since 1995 DFC has posted comprehensive generic market reports and membership-based research services. DFC research is being used by more than 300 leading firms in over 30 countries worldwide.
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