Global Social Gaming Market to Witness an Exemplary Growth Amid the Pandemic: Projected to Reach USD 36.1 Billion By 2027
Published | 10 June 2021
A recent study conducted by the
strategic consulting and market research firm, BlueWeave Consulting,
revealed that the global
social gaming market was worth USD 16.7 billion in the year 2020. The
data yielded by the study reveals that the market is estimated to grow at a
CAGR of 11.4%, earning revenue of around USD 36.1 billion by the end of 2027. Because
of the growing adoption of cutting-edge gaming innovations, rising disposable
income, the ease of gaming activities, the increase in online content, and
computerized conveyance, which allows clients to download the content on their
frameworks, the global social gaming market is growing at a rapid pace. Because
of the growing popularity of social gaming, such as PUBG, Counter-Strike, and
Minecraft, the market is expected to grow rapidly throughout the forecast
period. Furthermore, the introduction of cloud-based applications and the availability
of devices that provide augmented reality gaming experiences bring up new
avenues for the market.
High Penetration of Smartphone Will Boost the
Global Social Gaming Market during The Forecast Period
The number of smartphone users has increased significantly over
the past few years and is still expanding at a rapid rate. This factor is
having a major influence on the growth of the global social gaming market. The
availability of high processing smartphones at lower costs, especially in the
emerging economies and various operating systems like Android, iOS, windows,
etc. has propelled the demand for mobile games. Furthermore, high-capacity
smartphones with memory ranging from 16GB to 64GB and the ability to expand
further can run multiple games on a single device. These factors have a
substantial impact on the growth of the global social gaming market.
High Availability of Free of Cost Games
Will Push The Global Social Gaming Market
Players nowadays can play a variety of games
of all genres for free. . These games generate revenue through advertisements
they play during game time. Furthermore, free games are designed with a
smooth and easy-to-use interface as well as simple installation processes so
that individuals of all ages, particularly smaller children and the elderly,
can play them. As these games just require a simple login, they can be accessed
from anywhere through a smartphone and a social media account. That is why such
games are gaining huge popularity among the masses and also contributing to the
growth of the global social gaming market.
Action games will lead the market during the
forecast period
The global social gaming market is
segmented into several types based on the genre—i.e., action, shooter, role-playing,
sports, adventure, strategy, fighting, and others. The action genre is the most
popular one, especially among male players. This is because of the high
stimulus it offers to the brain and the sense of victory and achievement it
provides. Furthermore, the increasing difficulty also works in its favor. The
players get highly competitive while gaining victories over these difficulty
levels which enhances their overall gaming experience. The wide range of
experience this genre has to offer through various features such as jumping,
chasing, combating, solving, interesting trails, etc., along with multiplayer
options and audio and video senses are also triggering the growth of the action
genre in the global social gaming market.
Global Social Gaming Market - Regional
Insights
Geographically, the global social gaming
market is segmented into North America, Europe, Asia-Pacific, Latin America,
Middle-East & Africa. Among these, North America accounted for the largest
market share, followed by Europe. The high disposable income of these regions
triggers the market as the number of smartphone users escalates. Furthermore,
the high concentration of leading game developers in these regions also
influences the growth of the social gaming market in these regions. However,
the Asia-Pacific region is also coming up as a potential market with several
Asian games such as PUBG dominating the gaming world.
Impact of COVID-19 on Global Social
Gaming Market
Though the COVID-19 pandemic has struck
devastation on various businesses, it has had a positive impact on the global
social gaming market. During the lockdown phase, which was imposed
by the government of different countries to check the spread of the virus, the
dependence of people on their smartphones and various social networking sites
increased. To kill time at home, people started searching for various forms of
stimulus and entertainment. Due to this, social gaming platforms witnessed a
significant demand across the globe. Furthermore, because people were required
to work from home, they needed a way to cope with their stress and exhaustion,
which sparked an interest in social gaming, which provided both amusement and virtual
human interaction.
Competitive Landscape
The leading market players in the global
social gaming market are Valve Corporation, Bluestack Systems, Gameloft,
Microsoft, Nintendo, Rovio Entertainment, NVIDIA, Sony, Aeria Games GmbH,
Miniclip SA, Wooga GmbH, Zynga, Inc., Aeria Games GmbH, King Digital
Entertainment PLC, Behaviour Interactive, Inc., DeNA Co., Ltd., GREE, Inc.,
Social Point, Playtech PLC, and other prominent players.
The key industry participants are
focusing on developing interactive social games for all age groups and for all
platforms to cover the large share of the market. The adoption of market
strategies like mergers and acquisitions, partnerships, joint ventures are also
very prominent in this market.
Don’t miss the business opportunity of
the global social gaming market. Consult our analysts to gain crucial insights
and facilitate your business growth.
The in-depth analysis of the report
provides information about growth potential, upcoming trends, and statistics of
the global social gaming market. It also highlights the factors driving
forecasts of total market size. The report promises to provide recent
technology trends of the global social gaming market and industry insights to
help decision-makers make sound strategic decisions. Furthermore, the report
also analyses the growth drivers, challenges, and competitive dynamics of the
market.
About Us
BlueWeave Consulting provides
comprehensive Market Intelligence (MI) Solutions to businesses regarding
various products and services online and offline. We offer all-inclusive market
research reports by analyzing both qualitative and quantitative data to boost
up the performance of your business solutions. BWC has built its reputation
from the scratch by delivering quality inputs and nourishing long-lasting
relationships with its clients. We are one of the promising digital MI
solutions companies providing agile assistance to make your business endeavors
successful.
Get Help
Relevant Press Releases
- Rising demand of eco-friendly fertilizers coupled with government initiatives and regulations will boost the Organic Fertilizers Market
- Europe Rigid HDPE IBC Market All Set to Flourish: Expected to Reach worth USD 1,935.8 Million in 2026
- Global Prefabricated Buildings Market Research Report-Forecast to 2025
- Smart Plantation Management System Market is projected to reach USD 1.48 billion by 2026
- Global air cleaners market reached USD 4.9 billion in 2019 and is further projected to reach USD 7.8 billion by 2026, growing at a CAGR of 7.4% during the forecast period