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China Virtual Goods and Services Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025)

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    Report

  • 71 Pages
  • July 2021
  • Region: China
  • Daedal Research
  • ID: 5367421

This report provides an in-depth analysis of the virtual goods and services market in China including a detailed description of market sizing and growth. The report provides an analysis of China's virtual goods and services market by value, by industry and includes segment analysis as well.






Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. The growth of China's virtual goods and services market has also been forecasted for the period spanning 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.


The major players dominating the virtual goods and services market in China are Fulu Holdings Limited, Tencent Holdings Limited, Kaixin001, and iQIYI, Inc. The four companies have been profiled in the report providing their business overview, financial overview and business strategies.


Country Coverage


  • China

Company Coverage


  • Fulu Holdings Limited
  • Tencent Holdings Limited
  • Kaixin001
  • iQIYI, Inc.
Frequently Asked Questions about the Chinese Virtual Goods and Services Market

What is the estimated value of the Chinese Virtual Goods and Services Market?

The Chinese Virtual Goods and Services Market was estimated to be valued at $248.7 Billion in 2021.

What is the growth rate of the Chinese Virtual Goods and Services Market?

The growth rate of the Chinese Virtual Goods and Services Market is 10.2%, with an estimated value of $366.8 Billion by 2025.

What is the forecasted size of the Chinese Virtual Goods and Services Market?

The Chinese Virtual Goods and Services Market is estimated to be worth $366.8 Billion by 2025.

Who are the key companies in the Chinese Virtual Goods and Services Market?

Key companies in the Chinese Virtual Goods and Services Market include Fulu Holdings Limited, Tencent Holdings Limited and iQIYI, Inc..

Table of Contents


1. Executive Summary
2. Introduction
2.1 Virtual Goods and Services: An Overview
2.1.1 Difference between Classical Digital Goods and Virtual Goods
2.1.2 Transaction Flow of Virtual Goods-related Services
2.1.3 Role of Third-party Virtual Goods and Services Providers
2.2 Virtual Goods and Services Segmentation: An Overview
2.2.1 Virtual Goods and Services Segmentation by Industry
3. China Market Analysis
3.1 China Virtual Goods and Services Market: An Analysis
3.1.1 China Virtual Goods and Services Market by Value
3.1.2 China Virtual Goods and Services Market by Industry (Telecommunications, Game, Lifestyle Services, and Leisure and Entertainment)
3.2 China Virtual Goods and Services Market: Industry Analysis
3.2.1 China Virtual Telecommunications Market by Value
3.2.2 China Virtual Game Market by Value
3.2.3 China Virtual Lifestyle Services Market by Value
3.2.4 China Virtual Leisure and Entertainment Market by Value
3.3 China Third-party Virtual Goods and Services Market: An Analysis
3.3.1 China Third-party Virtual Goods and Services Market by Value
3.3.2 China Third-party Virtual Goods and Services Market by Industry (Telecommunications, Game, Lifestyle Services, and Leisure and Entertainment)
3.4 China Third-party Virtual Goods and Services Market: Industry Analysis
3.4.1 China Third-party Virtual Telecommunications Market by Value
3.4.2 China Third-party Virtual Game Market by Value
3.4.3 China Third-party Virtual Lifestyle Services Market by Value
3.4.4 China Third-party Virtual Leisure and Entertainment Market by Value
4. Impact of COVID-19
4.1 Impact of COVID-19
4.1.1 Impact of COVID-19 on Virtual Goods and Services
5. Market Dynamics
5.1 Growth Driver
5.1.1 Development of China’s Online Pan-entertainment Industry
5.1.2 Growth of China’s Economy and Consumption
5.1.3 Increasing Penetration of Mobile Payments
5.1.4 Growing Urban Population
5.1.5 Increasing Internet Usage
5.1.6 Rising Young Consumer Base
5.2 Challenges
5.2.1 Entry barriers
5.2.2 Privacy, Security, and Legal Threats
5.2.3 Regulatory Risks
5.2.4 Working Capital Requirements
5.3 Market Trends
5.3.1 Surging Investment in 5G Technology
5.3.2 Rising Penetration of Cloud Services
6. Competitive Landscape
6.1 China Virtual Goods and Services Players by Market Share
7. Company Profiles
7.1 Fulu Holdings Limited
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategy
7.2 Tencent Holdings Limited
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategy
7.3 Kaixin001
7.3.1 Business Overview
7.4 iQIYI, Inc.
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategy
List of Figures
Figure 1: Difference between Classical Digital Goods and Virtual Goods
Figure 2: Transaction Flow of Virtual Goods-related Services
Figure 3: Role of Third-party Virtual Goods and Services Providers
Figure 4: Virtual Goods and Services Segmentation by Industry
Figure 5: China Virtual Goods and Services Market by Value; 2016-2020 (US$ Billion)
Figure 6: China Virtual Goods and Services Market by Value; 2021-2025 (US$ Billion)
Figure 7: China Virtual Goods and Services Market by Industry; 2020 (Percentage, %)
Figure 8: China Virtual Telecommunications Market by Value; 2016-2020 (US$ Billion)
Figure 9: China Virtual Telecommunications Market by Value; 2021-2025 (US$ Billion)
Figure 10: China Virtual Game Market by Value; 2016-2020 (US$ Billion)
Figure 11: China Virtual Game Market by Value; 2021-2025 (US$ Billion)
Figure 12: China Virtual Lifestyle Services Market by Value; 2016-2020 (US$ Billion)
Figure 13: China Virtual Lifestyle Services Market by Value; 2021-2025 (US$ Billion)
Figure 14: China Virtual Leisure and Entertainment Market by Value; 2016-2020 (US$ Billion)
Figure 15: China Virtual Leisure and Entertainment Market by Value; 2021-2025 (US$ Billion)
Figure 16: China Third-party Virtual Goods and Services Market by Value; 2016-2020 (US$ Billion)
Figure 17: China Third-party Virtual Goods and Services Market by Value; 2021-2025 (US$ Billion)
Figure 18: China Third-party Virtual Goods and Services Market by Industry; 2020 (Percentage, %)
Figure 19: China Third-party Virtual Telecommunications Market by Value; 2016-2020 (US$ Billion)
Figure 20: China Third-party Virtual Telecommunications Market by Value; 2021-2025 (US$ Billion)
Figure 21: China Third-party Virtual Game Market by Value; 2016-2020 (US$ Billion)
Figure 22: China Third-party Virtual Game Market by Value; 2021-2025 (US$ Billion)
Figure 23: China Third-party Virtual Lifestyle Services Market by Value; 2016-2020 (US$ Billion)
Figure 24: China Third-party Virtual Lifestyle Services Market by Value; 2021-2025 (US$ Billion)
Figure 25: China Third-party Virtual Leisure and Entertainment Market by Value; 2016-2020 (US$ Billion)
Figure 26: China Third-party Virtual Leisure and Entertainment Market by Value; 2021-2025 (US$ Billion)
Figure 27: China’s Online Pan-entertainment Industry; 2015-2020 (US$ Billion)
Figure 28: China Gross Domestic Product (GDP); 2016-2020 (US$ Billion)
Figure 29: China Proximity Mobile Payment Users; 2019-2023 (Million & Percentage, %)
Figure 30: China Urban Population; 2015-2020 (Percentage, %)
Figure 31: China Number of Internet Users; 2019-2023 (Million)
Figure 32: China Millennials’ Annual Aggregate Income; 2020-2030 (US$ Trillion)
Figure 33: Entry barriers
Figure 34: China Number of 5G Users; 2020-2025 (Million)
Figure 35: China Virtual Goods and Services Players by Market Share
Figure 36: Fulu Holdings Limited Revenue; 2017-2020 (US$ Million)
Figure 37: Fulu Holdings Limited Revenue by Segments; 2020 (Percentage, %)
Figure 38: Fulu Holdings Limited Revenue by Type of Service; 2020 (Percentage, %)
Figure 39: Tencent Holdings Limited Revenues; 2016-2020 (US$ Billion)
Figure 40: iQIYI, Inc. Total Revenues; 2016-2020 (US$ Billion)
Figure 41: iQIYI, Inc. Total Revenues by Segments; 2020 (Percentage, %)

Samples

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Executive Summary

Virtual goods and services refer to non-physical objects and services exchanged in the virtual or non-physical realm. Virtual goods include e-vouchers, in-game virtual currencies and items, accounts, gift cards, membership cards and coupons, which can be exchanged for products and services offered by virtual goods vendors. The first virtual goods can be traced back to early multi-user dimension video games. The major characteristics of virtual goods are: originally digital; only consumable online; individual ownership; unique; and context-bound.


Third-party virtual goods and services platform operators are platforms that connect virtual goods vendors and virtual goods sales channels. Third-party virtual goods and services platform operators typically offer both virtual goods-related services and value-added services, such as online sales platform setting-up, online store operations and marketing and IT services.


The virtual goods and services market can be categorized into four segments in China: Leisure and Entertainment, Games, Telecommunications, and Lifestyle Services.


China virtual goods and services market has increased at a significant CAGR during the years 2016-2020 and is projected to grow even further during the forecast period (2021-2025). The market is expected to be driven by various growth enhancing factors such as the development of China’s online pan-entertainment industry, growth of China’s economy and consumption, increasing penetration of mobile payments, growing urban population, increasing internet usage, rising young consumer base, etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are entry barriers, privacy, security, and legal threats, regulatory risks, working capital requirements, etc.


Companies Mentioned

  • Fulu Holdings Limited
  • Tencent Holdings Limited
  • Kaixin001
  • iQIYI, Inc.