Social Gaming Market Driven by Increasing Use of Smartphones
Driven by continuous growth in sales of smartphones, tablets and others mobile devices, global market for social gaming was valued at USD 5.40 billion in 2012 and is expected to reach USD 17.40 billion by 2019, growing at a CAGR of 16.1% during the forecast period from 2013 to 2019
Social gaming comprises games that can be played on social media websites. These games are often low on graphics, which saves the developer’s costs, but can be played along with one’s friends, which increases its appeal.
Increasing Demand for Smartphone-based Social Gaming to Drive Global Social Gaming Market
The increasing demand for smartphones is a major driver for the global social gaming market. Due to the consistent and rapid technological advancements in the telecom sector, the online functionality of smartphones is being enhanced on a regular basis. This has allowed makers of online games to develop their own product portfolio and add innovative features.
The primarily ad-based revenue generation system of social gaming has also benefitted the global social gaming market, as it has resulted in online games being available to play for free. This is a major driver for the social gaming market in developing regions, where the presence of social media is growing but the disposable income of the consumers remains much lower than that in developed countries.
On the other hand, the restrictions on the usage of social media websites in workplaces are a major restraint on the global social gaming market.
Research Report: http://www.transparencymarketresearch.com/social-gaming-market.html
Women, 19-25 Age Group Emerge as Key Demographics for Social Gaming
Apart from advertising, the in-game sale of virtual goods and lead generation offers are the other two major sources of revenue for the global social gaming market. The virtual goods segment is expected to exhibit a robust growth in demand over the coming years, with the segment expected to exhibit a 15.2% CAGR from 2013 to 2019.
APAC Dominates Global Social Gaming Market
The global social gaming market is primarily dominated by Zynga Inc. The early entry of Zynga Inc. into the nascent and risky social gaming market has paid off in the years since then, with social media becoming one of the most easily accessible modes of mass marketing. Electronic Arts Inc., one of the major game developers in the world, is another major player in the global social gaming market.
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