Virtual Goods Market Research Report By Type (In-game virtual goods, Digital collectibles, Virtual currencies, Virtual land and property, Virtual services), By Platform (Desktop, Mobile, Console, Virtual reality (VR), Augmented reality (AR)), By Application (Gaming, Social media, E-commerce, Education, Healthcare), By Target Audience (Gamers, Collectors, Investors, Landlords, Service providers) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032.

Virtual Goods Market Overview

As per MRFR analysis, the Virtual Goods Market Size was estimated at 22.54 (USD Billion) in 2022. The Virtual Goods Market Industry is expected to grow from 24.86(USD Billion) in 2023 to 60.0 (USD Billion) by 2032. The Virtual Goods Market CAGR (growth rate) is expected to be around 10.29% during the forecast period (2024 - 2032).

Key Virtual Goods Market Trends Highlighted

The Virtual Goods Market has experienced a surge in demand, driven by the growing popularity of online gaming and social media platforms. The rise of play-to-earn games has further fueled market growth, offering users the opportunity to monetize their virtual assets. Emerging trends include the integration of virtual goods into the metaverse, enabling users to create and trade unique digital collectibles and experiences. NFTs have become a key driver, allowing for the ownership and transferability of virtual assets across different platforms. Additionally, the use of artificial intelligence for personalization and recommendations is expected to enhance the user experience and drive market growth.

Opportunities lie in expanding into new markets, such as education and healthcare, where virtual goods can enhance learning and therapeutic experiences. Collaboration with non-gaming platforms and the development of cross-platform compatible virtual goods present further avenues for growth. The legal framework and regulations surrounding virtual goods are also evolving, creating both challenges and potential opportunities for industry players to navigate.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Virtual Goods Market Driver

Growing Popularity of Virtual and Augmented Reality

Proliferation of virtual and augmented reality technologies serve as a major driver of virtual goods market growth. Newly developed VR/AR glasses allow users to dive into virtual world filled with digital objects and experiences. New goods, such as available avatars, clothes, and accessories, might be used as a part of the virtual reality. The demand for these goods will increase with growing market share for virtual reality technologies in gaming, entertainment, and other industries.

Expansion of E-commerce and Online Gaming

Another important factor that is driving the growth of the virtual goods market is the expansion of e-commerce and online gaming. Nowadays, there are many people shopping and playing online, and they need virtual goods to make their experience on the Internet more interesting. For example, online games often have special goods that give players an advantage. On the Internet, shoppers can also buy some goods for their avatars.

Rising Disposable Income and Changing Consumer Preferences

The rising disposable income and changing consumer preferences are also contributing to the growth of the virtual goods market. As people have more money to spend, they are increasingly willing to purchase virtual goods that can enhance their online experiences. This is particularly true for younger generations, who are more likely to spend money on virtual goods than previous generations.

Virtual Goods Market Segment Insights

Virtual Goods Market Type Insights 

The Global Virtual Goods Market is segmented into In-game virtual goods, Digital collectibles, Virtual currencies, Virtual land and property, and Virtual services. Among these segments, In-game virtual goods hold the largest market share and are expected to continue dominating the market throughout the forecast period. In-game virtual goods are digital items that can be purchased and used within video games. These goods can include a variety of items, such as weapons, armor, clothing, and vehicles. The market for in-game virtual goods is expected to grow significantly in the coming years, as more and more people spend time playing video games.

Digital collectibles are another important segment of the Global Virtual Goods Market. Digital collectibles are digital versions of real-world items, such as art, music, and trading cards. The market for digital collectibles is expected to grow rapidly in the coming years, as more and more people collect digital items. Virtual currencies are digital tokens that can be used to purchase goods and services within virtual worlds. Virtual currencies are often used in online games, but they can also be used in other applications, such as social media and e-commerce.

The market for virtual currencies is expected to grow significantly in the coming years, as more and more people use virtual worlds. Virtual land and property are digital representations of real-world land and property. Virtual land and property can be purchased and sold within virtual worlds, and they can be used for a variety of purposes, such as building homes, businesses, and other structures. The market for virtual land and property is expected to grow significantly in the coming years, as more and more people spend time in virtual worlds.

Virtual services are digital services that can be purchased and used within virtual worlds. Virtual services can include a variety of services, such as haircuts, massages, and repairs. The market for virtual services is expected to grow significantly in the coming years, as more and more people spend time in virtual worlds

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Virtual Goods Market Platform Insights  

The Global Virtual Goods Market segmentation by Platform comprises Desktop, Mobile, Console, Virtual reality (VR), and Augmented reality (AR). Virtual reality (VR) is a simulated environment that can be created with computer technology. Augmented reality (AR) is a technology that superimposes a computer-generated image on a user's view of the real world, thus providing a composite view. The Global Virtual Goods Market for the Platform segment is expected to grow from USD 15.46 Billion in 2023 to USD 27.97 Billion by 2032, at a CAGR of 7.45% during the forecast period. The growth of the VR segment is attributed to the increasing demand for immersive gaming experiences. The growth of the AR segment is attributed to the increasing adoption of AR technology in various applications, such as gaming, retail, and education.

Virtual Goods Market Application Insights  

The Application segment of the Global Virtual Goods Market is categorized into Gaming, Social media, E-commerce, Education, and Healthcare. Gaming dominates the market with a revenue of USD 19.4 billion in 2023, driven by the increasing popularity of online and mobile games. Social media follows with a revenue of USD 3.2 billion, benefiting from the rise of in-app purchases and virtual gifting. E-commerce contributes USD 1.5 billion, primarily through the sale of virtual goods in online marketplaces. Education and Healthcare have niche applications, with revenues of USD 0.6 billion and USD 0.3 billion respectively.

Virtual Goods Market Target Audience Insights  

Gamers are the most important target audience for the virtual goods market. They are willing to spend money on virtual goods to enhance their gaming experience. Collectors are another important target audience for the virtual goods market. They are interested in collecting virtual goods as a hobby. Investors are also a significant target audience for the virtual goods market. They are interested in investing in virtual goods as a way to generate income. Landlords are another important target audience for the virtual goods market. They are interested in purchasing virtual land to rent out to other users. Service providers are also a significant target audience for the virtual goods market. They offer services to virtual goods users, such as account management, customer support, and payment processing.

Virtual Goods Market Regional Insights  

The regional segmentation of the Global Virtual Goods Market offers valuable insights into the market's growth dynamics across different regions. North America is projected to dominate the market, accounting for a significant share of the Global Virtual Goods Market revenue in 2023. The region's dominance can be attributed to the presence of major gaming companies, a large user base, and a well-established infrastructure. Europe ranks second in terms of market share, driven by the growing popularity of virtual goods in online games and the presence of a large number of gamers.

The Asia-Pacific (APAC) region is anticipated to witness substantial growth over the forecast period due to the increasing adoption of virtual goods in emerging markets such as China and India. South America and the Middle East and Africa (MEA) regions are expected to contribute a smaller share to the Global Virtual Goods Market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Virtual Goods Market Key Players And Competitive Insights

The Virtual Goods Market is a highly competitive industry where major players are constantly working to retain their position and broaden their revenue base. Industry players are seen to compete on various parameters, based on which, they are investing in murging and acquisiting phases, in new product launches, and in expanding their market presence. The increasing usage of gaming platforms and popularity of virtual reality would influence the Virtual Goods Market development for the upcoming years. The competitive landscape is observed to be highly dynamic with the entry of new players and the expansion plans of existing players.

Further, murging and acquisition deals are expected to play a crucial role in shaping the industry’s future. Tencent Holdings is a prominent Global Virtual Goods Market industry player that has a broad and effective product segment related to virtual goods. For example, the company’s range of virtual goods includes in-game items, virtual money, and virtual pets. Tencent leverages its existing gaming platforms such as QQ and WeChat for promotion and distribution of virtual goods. Further, the company invests in research and development describing these as core functions carried out within the company premises.

The company has plans to further broaden its virtual goods product range and increase the existing virtual goods portfolio. The company has a strong financial position and large presence worldwide driving the Virtual Goods Market’s growth. Roblox Corporation is another prominent competitor in the Global Virtual Goods Market, which has gained high market traction in recent years, primarily among young audience. The company’s platform allows users both to play and create games and to purchase and trade virtual goods. Additionally, the company has played a key role in the expansion of its virtual goods product list market. The company’s focus on innovation and user development further drive the Virtual Goods Market.

Key Companies in the Virtual Goods Market Include

• Tencent


• Plarium


• Nintendo


• Microsoft


• Sony


• Zynga


• TakeTwo Interactive


• Kabam


• Google


• Activision Blizzard


• NetEase


• Kongregate


• Nexon


• Electronic Arts


• Apple

Virtual Goods Market Industry Developments

The global virtual goods market is projected to reach USD 60.0 billion by 2032, exhibiting a CAGR of 10.29% from 2024 to 2032. The growth is attributed to the increasing popularity of online gaming, the rise of virtual and augmented reality, and the growing adoption of digital currencies. Recent developments in the market include the launch of new virtual goods platforms, such as Upland and Sandbox, and the integration of virtual goods into existing social media platforms, such as Facebook and Twitter. Additionally, the COVID-19 pandemic has accelerated the growth of the virtual goods market, as people spend more time online and seek new ways to interact and entertain themselves.

Virtual Goods Market Segmentation Insights

Virtual Goods Market Type Outlook

• In-game virtual goods


• Digital collectibles


• Virtual currencies


• Virtual land and property


• Virtual services

Virtual Goods Market Platform Outlook

• Desktop


• Mobile


• Console


• Virtual reality (VR)


• Augmented reality (AR)

Virtual Goods Market Application Outlook

• Gaming


• Social media


• E-commerce


• Education


• Healthcare

Virtual Goods Market Target Audience Outlook

• Gamers


• Collectors


• Investors


• Landlords


• Service providers

Virtual Goods Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa