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Webgames Market Size, Share, Scope and Comprehensive Analysis
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In addition, the surging use of social media, owing to the increasing internet and smartphone penetration, also help the webgame market progress at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market was valued at $3.5 billion in 2019 and it is expected to generate $6.5 billion revenue by 2030. Webgame developers are using social media platforms, such as Instagram, Twitter, and Facebook, to market their products and lure more customers. For instance, Zynga Inc. offers Spades Plus, Farmville, Crazy Kitchen, Hit It Rich, and 101 Okey Plus on Facebook.
In recent years, webgame developing companies have focused on launching new games to attract more gamers. For instance, in June 2018, Altigi GmbH (Goodgame Studios) launched EMPIRE: Millennium Wars on the web, which is a strategic game where players have to create their own base, train their units, and command them in action. Likewise, in November 2018, Bytro Labs GmbH introduced a new version of Supremacy 1914, a game based on the First World War. It is a free-to-play real-time strategy browser game that allows users to deploy numerous strategies to compete with others.
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Geographically, the Asia-Pacific (APAC) region dominated the webgame market in the recent past, and it is expected to adopt webgames at the highest rate in the foreseeable future. This can be ascribed to the surging penetration of smartphones, tablets, personal computers (PCs), and the internet and the mounting consumer expenditure. For instance, the World Bank estimates that 71% of the Chinese population and 41% of the Indian population were internet users in 2020 and 2019, respectively. Moreover, the presence of a vast gaming population also fuels the adoption of webgames in the region.
Thus, the escalating use of smartphones and rising penetration of social media are expected to propel the adoption of webgames across the world.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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