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Social Gaming Market Set to Exceed USD 89.66 Billion by 2030 | The Smartphone Revolution Fuels the Social Gaming Landscape
Social Gaming Market Report
According to the latest report by SNS Insider, the Social Gaming Market witnessed a valuation of USD 27.5 billion in 2022. The market is anticipated to escalate to an estimated USD 89.66 billion by 2030, exhibiting a robust Compound Annual Growth Rate (CAGR) of 15.92% during the forecast period from 2023 to 2030.
Market scope:
The Social Gaming Market presents a dynamic landscape, driven by the inclusive nature of social games tailored for a diverse audience. These games, accessible across smartphones, computers, and tablets, transcend traditional gaming barriers, appealing to students, professionals, and homemakers seeking stress-relief. The market witnesses a surge in browser-based games, offering immersive 3D experiences akin to dedicated consoles, attracting consumers with their accessibility and cost-effectiveness. With a projected value of USD 89.66 billion by 2030, the market's exponential growth hinges on smartphone integration, expanding internet connectivity, and innovative game development, fostering a vibrant ecosystem for interactive and engaging social gaming experiences globally.
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Key Players:
The major players in the market are Renren Inc., Social Point., Wooga GmbH, Zynga, Inc., King, CrowdStar, Tencent Holdings Ltd., Electronic Arts, Inc., Booyah Inc., Playtika Ltd., and others in the final report.
Market Analysis:
The surge in smartphone demand globally catalyzes the social gaming market's expansion. As smartphones integrate diverse operating systems like iOS, Android, and others, users can easily download and play various social games. The substantial memory capacities of phones further facilitate the storage of multiple games, fostering market growth in the coming years. Moreover, the market witnessed an upsurge in browser-based games, with companies developing sophisticated 3D gaming experiences. Accessibility, cost-effectiveness, and simplicity drive consumers towards browser-based games, providing experiences akin to dedicated gaming consoles.
Segment Analysis:
In terms of gender segmentation, both male and female segments demonstrate rapid growth. By Age The 26 - 35 years age group dominates, leveraging increased social networking and mobile gaming adoption within this demographic, shaping the segment's prominence.
Market Segmentation and Sub-Segmentation Included Are:
By Segment:
• Virtual Goods
• Advertisements
• Lead Generation Offers
• Subscription Services
By Device:
• Desktop
• Mobile
• Tablet
• Others
By Age Group:
• Under 13 years
• 13 - 18 years
• 19 - 25 years
• 26 - 35 years
• 36 - 45 years
• 46 - 60+ years
By Gender:
• Male
• Female
• Non-Binary
By Platform:
• Twitch
• YouTube
• Steam
• Others
Key Regional Development:
The Asia Pacific region is poised to lead the Social Gaming Market, primarily due to its vast population, escalating internet penetration, and rising disposable incomes. Southeast Asian economies like Malaysia, Thailand, and Indonesia, alongside Japan, South Korea, and India, contribute significantly to the region's growth. The abundance of skilled labor and lower operational costs position the region as a hub for social gaming.
North America contributes significantly to e-sports and competitive gaming, fostering the social gaming industry. Meanwhile, Europe's robust infrastructure and mature gaming industry establish it as another substantial market for social gaming.
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Key Takeaways:
• The social gaming market is propelled by smartphone proliferation, offering widespread accessibility.
• The 26 - 35 years demographic emerges as a pivotal segment, embracing social gaming through increased connectivity.
Recent Developments:
• BitNile Metaverse, Inc. expanded its online metaverse platform, BitNile.com, by introducing Over-Under Dice.
• Coonductr, a UK-based innovation studio, unveiled its new game volt product division ahead of IAAPA Expo Europe in Vienna.
Get complete report details @ https://www.snsinsider.com/reports/social-gaming-market-3858
Table of Contents:
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Social Gaming Market Segmentation, By Segment
9. Social Gaming Market Segmentation, By Device
10. Social Gaming Market Segmentation, By Age Group
11. Social Gaming Market Segmentation, By Gender
12. Social Gaming Market Segmentation, By Platform
13. Regional Analysis
14. Company Profile
15. Competitive Landscape
16. USE Cases and Best Practices
17. Conclusion
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Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Website: https://www.snsinsider.com
Office No. 305-B, Arissa Avenue, Fountain Road, Kharadi, Pune, Maharashtra 411014
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.
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