by The global Social Gaming Market is estimated to be valued at US$ 31.61 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Social gaming refers to playing games on social media platforms such as Facebook, Instagram, and Twitter. It involves interacting and competing with online communities of players. Social games make for a fun and interactive experience by incorporating social elements like messaging, visiting friends’ virtual properties, sending gifts, and competing on leaderboards.
Market key trends:
One of the major trends in the social gaming market is the rising popularity of esports. Esports refers to organized video game competitions where professional players compete against each other for prizes and fame. Previously confined to PC and console, esports games are now increasingly available on mobile as well, fueling the growth of mobile esports. Popular mobile esports titles include games like Clash Royale, Arena of Valor, and PUBG Mobile. As the excitement around mobile esports grows, it is attracting a younger demographic and more female players to social gaming. This translates to higher engagement and more paying users for social game developers.
Segment Analysis
The global social gaming market is dominated by the mobile segment which holds the major market share. The increasing adoption of smartphones around the world along with the availability of high-speed internet has boosted the popularity of mobile social gaming. Social gaming apps are easily accessible on mobile devices allowing players to engage in gaming experiences on the go which has driven the demand in the mobile segment.
Key Takeaways
The Global Social Gaming Market Demand is expected to witness high growth, exhibiting a CAGR of 16% over the forecast period, due to increasing internet penetration and adoption of smartphones globally.
Regional analysis: Asia-Pacific region dominates the social gaming market currently, owing to the large population base and widespread popularity of social gaming experiences in countries like India and China. The region is expected to continue its dominance during the forecast period with China and India being the major markets.
Market size: The global social gaming market size was valued at US$ 31.61 Bn in 2023 and is projected to reach US$ 77.52 Bn by 2030, expanding at a notable CAGR of 16% during the forecast period.
Key players: Key players operating in the social gaming market are Zynga, Inc., Wooga GmbH, Playtika Ltd., King, Tencent Holdings Ltd., Electronic Arts, Inc., Renren Inc., CrowdStar, Booyah Inc., and Social Point. Zynga dominates the market with its wide portfolio of popular games such as FarmVille and Words With Friends.
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
