Social Gaming Market - Fastest Expansion at a CAGR of 15.20% Over the Forecast Period

Sensing an opportunity created by the steep prices of game consoles – a factor that hampers their quick uptake by consumers – game developers have rushed in to satiate people’s gaming needs by leveraging social media.

That a growing crop of smartphone-toting people are providing a fillip to the global market for social gaming is anyone’s guess.

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Studies show that the number of monthly active users for social games was over 200 million in 2012 and that number would likely double by 2019. While numbers increase, it also ups the pressure on social game developers to retain their consumer base by creating more engaging content.

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The rise in the population base accessing social media platforms is the key reason behind the growth of the global social gaming market, states the report. According to it, people spend majority of their online time on social gaming sites. Companies operating in the worldwide social gaming market are introducing several new games that can be accessed on the go in order to tap this opportunities.

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Virtual goods, advertisements, and lead generation offers are the main revenue generation sources of the global social gaming market. Among these, the virtual goods segment is likely to report the fastest expansion at a CAGR of 15.20% over the forecast period, states the market study.

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