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What’s driving the social gaming market report? |by key players Valve Corporation, PlayJam, Playdom, Bluestack Systems, Gameloft, Sony, Rovio Entertainment, NVIDIA
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North America is expected to dominate the social gaming market due to the high adoption rate of games, strong internet infrastructure, and connectivity. The presence of global key players in this region and their continuous efforts to provide best gaming platforms will boost the social gaming market.
The social gaming market is growing at a rapid pace on account of the increasing adoption of advanced gaming technologies, rising income levels, low cost of games, increase in online content, and digital distribution, which allow users to download the content on their systems. Popular social gaming genres such as social casino is likely to drive the market growth during the forecast period due to the increasing social gaming traffic. Furthermore, penetration of cloud-based applications and availability of devices that provide augmented reality gaming experiences also open new avenues for the market.
The key challenges for the social gaming market growth such as lack of funding, poor internet infrastructure, and increasing piracy need to be addressed. Also, restrictions on the usage of social media websites in some countries are likely to hamper the market growth. Moreover, other factors hindering the growth are the platforms that lack stringent age verification process and conversion of social gamers to real money gamblers.
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The well-established and emerging economies in the Asia-Pacific region are majorly contributing to the social gaming market growth. Major growth determinants of the market include growing young population, rising per capita expenditure, and the emergence of new technologies such as 3D modeling and virtual reality. These technologies offer an extraordinary experience to the gamers.
Economies including India, China, South Korea, and Japan are expected to open new avenues for local and foreign mobile game investors during the forecast timeline. For instance, in January 2018, a Chinese gaming company AGTech in partnership with Paytm launched Gamepind, a mobile gaming platform. Gamepind acts as a marketing platform for merchants to engage with mobile shoppers and casual gamers.
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Some of the key players operating in the social gaming market are Microsoft, Nintendo, Rovio Entertainment, NVIDIA, Valve Corporation, PlayJam, Playdom, Bluestack Systems, Gameloft, and Sony. These companies are largely focusing on strategic alliances and product differentiations to strengthen their position resulting in overall growth of the social gaming industry. For instance, in April 2018, Scientific Games launched online sports betting platform for Szerencsejáték Zrt., a gaming service provider in Hungary.
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