Noida, India, July 01, 2021 (GLOBE NEWSWIRE) — A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global social gaming market reached USD 16.7 billion in 2020 and is further projected to reach USD 31.6 billion by 2027, growing at a CAGR of 11.4% during 2021-2027 (forecast period). The global social gaming market is witnessing positive growth owing to major factors like rising investments in state-of-the-art gaming technologies, and rising UI/UX potential which is enhancing the gaming experience. Additionally, booming adoption rates of online gaming content, and the increasing penetration of digital technologies in developing regions around the world, have enabled various end-users to download and stream gaming content on their OS (Operating System). Additionally, the introduction of cloud-computing technologies and the penetration of smartphones have augmented the growth of the global social gaming market.
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Expanding cloud technologies in the gaming industry powering the growth of the global social gaming market
The rising adoption rates and equivalent levels of penetration rates for cloud-based technologies have significantly improved the gaming industry, thereby providing a boost to the overall global social gaming market. Cloud gaming has enabled consumers to engage with software a vast array of games available online that are accessible from anywhere around the world. Additionally, the cloud has enabled consumers to enjoy a seamless gaming experience without any lags caused by high website traffic. Cloud technologies have helped in enhancing the scalability of gaming and tweaking the code to manage the website for a more pleasant experience. Earlier, high-end games demanded huge amounts of RAM to support the graphics and the overall running of the gaming experience, that ultimately required the end-users to purchase expensive systems. However, cloud technologies have helped users to maintain their budget and play social games without any hassle, thereby driving the global social gaming market.
The escalating number of developing browser-based games are bolstering the global social gaming market growth
Browser-based or online-based games are presently gaining a lot of momentum from the game creators. Many newly developed web-based games have started acquiring traction among numerous social gaming enthusiasts. Some of the most popular games include Pokémon Showdown, Apple Worm, Frogger Classic, Prodigy, and RuneScape. Additionally, the gaming developers have started working on developing and creating 3D games with a variety of levels to enhance the end-user experience. The rising accessibility of browser-based games has eliminated the requirement of downloading them on the operating system or smartphones, thereby reducing the pressure on the device and the processors. As a result of these factors, the global social gaming market is expanding while growing at a significant growth rate.
Action gaming sub-segment occupies the largest share in the global social gaming market
Based on genres, the global social gaming market can be segmented into action, shooting, role-playing, sports, adventure, strategy, fighting, and others. The action segment accounts for the largest share in the global social gaming market and is further projected to grow at a convincing CAGR in the upcoming years as well. Some of the most popular action games that fall under the category include Grand Theft Auto (GTA), Fortnite, Call of Duty, Minecraft, Counter Strike, and others. These games have almost dominated the entire gaming scene around the world owing to their graphics and super interactive gaming interfaces due to which the games enjoy a huge consumer base. These games are well-known for providing high stimulations to the gamers, allowing them to feel a sense of victory and achievements, which has been fuelling the demand for the global social gaming market.
19-25-year-old group accounted for the biggest share in the indication segment of the global social gaming market
Based on age group, the global social gaming market is segmented into 13-18 years, 19-25 years, 26-35 years, 35-45 years, and 46+ years. In the global social gaming market, the 19-25 age group holds the largest share, with more than 20 hours a week spent playing video games. The 26-35-year age group presently holds the second position in the global social gaming market. The rising penetration of smartphones and a thriving young consumer base of social gaming have been contributing to the rising demand for web-based games and PCs among these age groups, as has generation’s adaptability to leverage the latest technologies in playing video games, which is contributing to the growth of the global social gaming market.
Global Social Gaming Market: Regional Insights
Based on the region, the global social gaming market is divided into North America, Europe, the Asia-Pacific, Latin America, and the Middle-East & Africa. The North American market presently holds the largest share in the global social gaming market and is further estimated to maintain its market position in the forecast period as well. The presence of robust internet connectivity and thriving gaming industry, as well as a high concentration of leading social gaming developers such as Sony Interactive Entertainment, Nintendo Co Ltd, Ubisoft, Gameloft SE, and others, have contributed to the region’s growing market share in the global social gaming market. Another element driving the industry is the rising per capita income that has enabled consumers all over the region to opt for expensive games available online, thereby driving the growth of the global social gaming market.
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COVID-19 Impact Analysis
The COVID-19 outbreak and the lockdown restrictions related to social distancing have positively impacted the global social gaming market. The COVID-19 pandemic has brought various growth opportunities for the global social gaming market. As people were restricted from paying a visit to their favorite stores, shops, gaming centers and engaging in other enjoyment activities outside owing to the lockdown restrictions imposed by the respective governments of different countries, they had to resort to other forms of entertainment to keep themselves engaged during the isolation period. Due to this, there was a sudden spike in social gaming across all age groups. Additionally, gaming-related businesses started to develop a vast array of games to cater to the demands of various age groups. Owing to the COVID-19-induced lockdown, social gaming platforms grew in popularity as people had to resort to smart devices for entertainment purposes. As a result of the COVID-19-induced lockdown, social gaming platforms grew in popularity as people turned to smart gadgets for pleasure. All of these factors have positively contributed to the growth of the global social gaming market.
The key players in the global social gaming market are focusing on developing interactive social games to cater to the rising demand arising from all age groups and across all platforms to cover the large share of the global social gaming market. The adoption of market strategies, such as mergers and acquisitions, partnerships, joint ventures have proven to be beneficial for the market players to gain more market share. The leading players in the global social gaming market are Valve Corporation, Bluestack Systems Inc., Gameloft SE, Microsoft Corp., Nintendo Co. Ltd., Rovio Entertainment, NVIDIA Corp., Sony Corp., Aeria Games GmbH, Miniclip SA, Wooga GmbH, Zynga, Inc., Aeria Games GmbH, King Digital Entertainment PLC, Behaviour Interactive, Inc., DeNA Co., Ltd., GREE, Inc., Social Point, Playtech PLC, and other prominent players.
In September 2020, Gameloft SE announced the acquisition of the Other Guys, which is the creator of the highly engaging and interactive series app Linda Brown and the interactive storytelling and gaming platform Journeys. The acquisition marks Gameloft SE’s second acquisition, thereby solidifying its commitment toward offering social games across all genres and for all consumers. The Others Guys stated that the joining powers with the Gameloft SE is a unique opportunity for accelerating the development of our gaming studios, thereby combining our experience in offering highly captivating and interactive gaming series accompanied by Gameloft’s global network and gaming expertise. The Other Guys is expected to continue to be headed by their founders Augusto Petrone, Nicolas Cuneo, and Pablo Mayer, with the previous management team. The company is going to operate as a Gameloft studio and will receive, publishing, commercial, and marketing licenses and support from the Gameloft SE’s teams.
In May 2021, BlueStacks announced the launch of BlueStacks 5 for global consumption which is seen as the company’s next great move in the Android gaming scene. The Andrioid app player features some of the biggest improvements over the recent versions making it much faster, and lighter than ever before. The global release of the version is designed to consume fewer resources, allowing the users with outdated hardware to run on it without any issues. BlueStacks 5 is expected to amaze its users with its smooth performance and reduced consumption, which is expected at 50% less RAM than all of the previous versions, giving its consumer base a delight to be cherished with underpowered systems and the opportunity to enjoy their beloved mobile and social games.
Scope of Report
- Microsoft Windows
- 13-18 years
- 19-25 years
- 26-35 years
- 35-45 years
- 46+ years
- North America
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
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