Global Social Gaming Market Overview
The key driver impacting the social gaming market is the increasing access to the internet among the people, high penetration of laptops, mobile phones, and tablets, increased availability of social games for players of all age group. For instance, Globally, the number of internet users augmented from only 413 million in 2000 to more than 3.4 billion in 2016. The barrier of one billion was already passed in 2005 as per the world in the data report. China and India emerged as the top two countries globally with 50% (765 million) and 26% (391 million) percent online, respectively. Moreover, the rising adoption of advanced gaming technologies, low cost of games, and rising income levels contribute to the growth of the Social gaming market in the coming years.
According to Value Market Research, the global Social Gaming market size was valued at about USD 78.9 billion in 2020 and is estimated to grow at a CAGR of around 8.5% during the forecast period 2021 to 2027.
The rising demand for smartphones and tablet PC as it is majorly utilized for gaming is likely to augment the market demand in the forecast period. For instance, As per the economics help organization, from zero sales at the beginning of 2010, the tablet market has extended to100 million units annually by the end of 2013. It is estimated that tablet sales had reached around 200 million per year by 2016. Smartphones and Tablets are usually used for social gaming as they provide ease of access and convenience to the consumers. However, a ban on social networking sites may hamper the market in the long run. Also, growing concerns regarding gaming addiction are negatively impacting the market growth. On the other hand, the current industry trends, such as the rising trend of cloud gaming and the emergence of high-quality browser-based games, are expected to offer several beneficial market opportunities to the key players.
The Social gaming market is vast, with many local and global players. The Social gaming market is extensive, with many international and regional players. The market leaders follow various strategies to enhance their position in the market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. For instance, in January 2020, VFairs had launched a new chat platform. It is for virtual career fairs, and it facilitates exhibitors and attendees to engage and interact with each other in real-time. The key market players studied in the report include Wooga GmbH, Zynga, Inc., Tencent Holdings Ltd., Playtika Ltd., Renren Inc., Electronic Arts, Inc., Booyah Inc., CrowdStar, King, and Social Point.
In this research report, the Social Gaming market is segmented by segment, gender, age group, and region.
Analysis by Segment:
By segment, the report is categorized into virtual goods, advertising, and lead generation/offers. The virtual goods segment dominates the segment with over 30% share in 2020. It is due to the extensive usage of online gaming sites and social networks among youngsters. Moreover, growth in online gamers who purchase virtual goods such as magic wands, swords, or houses utilizing real money contributing to the virtual goods segment growth in the forecast period.
Analysis by Gender:
By gender, the report is categorized into male and female. The male segment dominates the gender segment with over 55% share in 2020. It is due to online gaming, and its related business models have observed robust growth in current years among the male population. Moreover, the increasing penetration of social gaming leads to growing male participation, and spending money on games to play with the known people and friends contributes to the high market demand from the males population in the forecast period.
Analysis by Age Group:
By age group, the report is categorized intom13 – 18 years,19 – 25 years, 26 – 35 years, 36 – 45 years, and 46+ years. The 26 – 35 years segment dominates the establishment size segment with over 20% share in 2020. It is due to the growing use of social networking sites and mobile gaming among people of this age group contributing to the growth of the 26 – 35 years age group segment in the forecast period.
Analysis by Region:
In the regional outlook of the global social gaming market, the Asia Pacific region dominates globally with a 35% market share in the forecast period. It is due to the large user base of social networks, growing young population, and rising per capita expenditure that leads to broad penetration of smartphones and wireless technology across economies like India, Japan, China, and Korea. Moreover, rapidly maturing payment infrastructure and the emergence of new technologies such as 3D modeling and virtual reality contribute to tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Segment
- Virtual Goods
- Advertising
- Lead Generation / Offers
By Gender
By Age Group
- 13 – 18 years
- 19 – 25 years
- 26 – 35 years
- 36 – 45 years
- 46+ years
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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