Global Social Gaming Market Report, published by Fior Markets, forecast that the global market is expected to reach $36.7 Billion by 2024 from $11.8 Billion in 2016, growing at a CAGR of 15.2% from 2016 to 2024. By geography, North America and Europe are expected to grow at a CAGR of 15.8% and 15.5%, respectively, during the forecast period.
“Social Gaming Market (By Gender: Male and Female; By Age Group: 13-18 Years, 19-25 Years, 26-35 Years, 36-45 Years, And 46 Years and Above; By Revenue Generation: Advertisements, Virtual Goods, And Lead Generation; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024”
Some of the factors driving the growth of the global social gaming market comprises easy access to internet, increased adoption of smartphones and tablets, increasing number of social gamers, and continuous launch of advanced games. Though risk of getting addicted and physical consequences of gaming addiction such as poor personal hygiene, migraines, and carpal tunnel may hinder the growth of the market. Besides, expansion of cloud gaming, and growing utilization of incentivized social video model would offer future opportunities in forecasted years.
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Gender, age group, revenue generation, and geography are the key segments considered in the global social gaming market. By gender, the segment is sub-segmented as male, and female. Age group segment comprise 13-18 years, 19-25 years, 26-35 years, 36-45 years, and 46 and above years. Furthermore, revenue generation is bifurcated as advertisements, virtual goods, and lead generation.
Female dominated the gender segment in 2016, with largest market share. In terms of age group, 19-25 years held the majority of market share, and is expected to continue its dominance in the coming years with high growth rate. By revenue generation, virtual goods accounted the maximum share in 2016.
By geography, the social gaming market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific generated maximum revenue in 2016, driven by increasing spectrum of age and income, fewer barriers to entry, and increasing investments into expanding coverage across all the regions. North America accounted the second largest market share with 31.2%, and is expected to dominate with highest CAGR during the forecast period.
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Key players include Rovio Entertainment, Ltd., Social Point S.L., Gameloft SE, King Digital Entertainment plc, Zynga, Electronic Arts Inc., Wooga GmbH, CrowdStar, Behaviour Interactive, Inc., and Aeria Games GmbH, among others.
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