by Market Overview:
Social gaming involves playing games online or on mobile devices with other players for socialization and enjoyment. Popular social gaming genres include casual games, casual puzzle games, card games, and casual strategy and board games.
Market Dynamics:
An important driver fueling the growth of the social gaming market is the increasing adoption of smartphones and high-speed mobile connectivity. According to GSMA, the global mobile subscriber base was 5.11 billion in 2017 and is estimated to reach 5.68 billion by 2020. High-speed 4G networks now account for over 40% of total mobile subscriptions. This growing access to high-speed mobile internet coupled with the popularization of inexpensive smartphones is enabling a wide uptake of mobile gaming apps worldwide. Additionally, social gaming platforms are increasingly focusing on innovative augmented reality and virtual reality gaming experiences to enrich user engagement and community interactions. This is expected to open up new revenue channels and market opportunities over the forecast period.
The global Social Gaming Market Share is estimated to be valued at US$ 17.40 Bn in 2023 and is expected to exhibit a CAGR of 16.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The social gaming market has witnessed considerable growth over the past few years driven by the increasing internet and smartphone penetration globally. The trend of mobile gaming has picked up pace as mobile platforms allow gamers to play on the go at their convenience on devices. The social element of gaming online with friends and family and comparing high scores has also attracted many casual gamers to this space. Monetization remains strong for the top games as developers experiment with in-game purchases and ads effectively.
SWOT Analysis
Strengths: Large and growing user base, increasing engagement on mobile platforms, strong monetization models
Weaknesses: Dependency on few dominant players, and the emergence of hyper-casual formats can dilute hardcore gamers
Opportunities: Emerging markets adoption, AR/VR integration, eSports popularity
Threats: Regulatory risks on data privacy and loot boxes, competitive landscape from other entertainment options
Key Takeaways
The global social gaming market is expected to witness high growth, exhibiting a CAGR of 16.1% over the forecast period, driven by growing internet and smartphone penetration. The market valued at USD 17.40 Bn in 2019 is projected to reach over USD 50 Bn by 2027.
Regional analysis: North America dominated the global market in 2019 led by the U.S. whereas Asia Pacific is anticipated to witness the fastest growth owing to the growing gaming culture and increasing disposable incomes in major countries such as China and India.
Key players: Key players operating in the social gaming market include Zynga, Inc., Wooga GmbH, Playtika Ltd., King, Tencent Holdings Ltd., Electronic Arts, Inc., Renren Inc., CrowdStar, Booyah Inc., and Social Point. Zynga continues to lead the market with iconic franchises like FarmVille and Words With Friends. Tencent also enjoys a strong position driven by the popularity of Honor of Kings in China and international titles.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
