COIL – According to a new market report published by Transparency Market Research “Social Gaming Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019,” the global Social Gaming market is expected to reach a value of $17.40 billion by 2019, growing at a CAGR of 16.1 percent from 2013 to 2019.
Growth in the usage of Internet and social networking sites has spurred the growth of the games over the Internet. The other factor being the growing demand of smartphones and tablet PCs. Asia Pacific was the largest contributor in social gaming market and accounted for a share of 45 percent in 2012. Decline in prices of mobile devices i.e. smartphones and tablets and easy access to internet has resulted in the growth of these games.
Among different types of revenue generation methods, virtual goods helped generate 60 percent of the revenue followed by advertisements in 2012. Continuous rise in the internet subscribers, increase social network accounts, demand for mobile devices and free and easy access to internet are some important factors driving the demand for social gaming globally.
Ban on social networking sites in regions such as the Middle East and China has limited the growth of the market. People of age group 19-25 years has contributed largely to the growth of social games and is expected to grow at a CAGR of 17.3 percent during the forecast period from 2013-2019. A major reason for the growing popularity of the social games among this age group is the readily available internet services in schools, colleges or homes.
Female is the largest gender segment that held a share of around 54% in 2012 followed by male with 46 percent share in 2012. Demand for games by female is primarily driven by increase in usage of internet in the homes and the rise in demand of smartphones.
In terms of geographical regions, Asia Pacific represents largest market for social gaming and is expected to reach $7.59 billion by 2019. Huge population in the region has boosted the demand of mobiles and smartphones which in turn has compelled the game designers to develop games of the mobile devices.
