Social Gaming

Social Gaming

Global Social Gaming Market to Reach US$110.9 Billion by 2030

The global market for Social Gaming estimated at US$41.4 Billion in the year 2023, is expected to reach US$110.9 Billion by 2030, growing at a CAGR of 15.1% over the analysis period 2023-2030. Virtual Goods Revenues, one of the segments analyzed in the report, is expected to record a 14.5% CAGR and reach US$58.1 Billion by the end of the analysis period. Growth in the Advertising Revenues segment is estimated at 17.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$10.7 Billion While China is Forecast to Grow at 19.6% CAGR

The Social Gaming market in the U.S. is estimated at US$10.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$28.3 Billion by the year 2030 trailing a CAGR of 19.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.3% and 12.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR.

Social Gaming- Key Trends and Drivers Summarized

Social gaming has significantly reshaped the digital entertainment landscape by embedding social tools directly into game mechanics, creating personalized and engaging experiences for players. Historically, gaming has always had a social component, from early video games played in living rooms to today`s sophisticated multiplayer online games. In contemporary gaming, social interactions and community engagement have become critical, with players valuing the relationships and connections formed within the gaming environment. This trend reflects a shift from focusing solely on gameplay to emphasizing the social experiences that games facilitate. The inclusion of social features not only enhances the gaming experience but also fosters lasting bonds among players, often extending beyond the virtual world.

The expansion of social gaming is marked by the integration of various social elements that go beyond traditional gameplay. Games are evolving into metaverse environments, hosting non-gaming activities such as virtual concerts, fashion shows, and movie screenings, thus broadening the user base and attracting non-gamers. "Animal Crossing: New Horizons," released in April 2020, exemplifies this trend by providing a platform for virtual socialization, where players can hold virtual events like birthday parties and weddings. Such immersive social experiences highlight the game`s role in facilitating real-world interactions within a digital space. Moreover, the advertising potential in social gaming is substantial, given the captive audience and diverse player demographics. Platforms like Facebook are increasingly incorporating tools for in-game advertising, expanding opportunities for product placements and targeted marketing within social games.

Several key drivers are propelling the growth of social gaming. Advancements in mobile technology, such as enhanced smartphone capabilities and faster internet speeds, enable more complex and engaging social gaming experiences. Cloud gaming platforms have revolutionized accessibility by allowing players to stream high-quality games on various devices without requiring high-end hardware. The integration of augmented reality (AR) and virtual reality (VR) technologies offers immersive social experiences that blend virtual and real-world interactions. Cross-platform play fosters inclusivity by enabling gamers on different devices to play together, while user-generated content encourages creativity and community building. The influence of game streaming and content creation platforms like Twitch and YouTube Gaming has increased the visibility and appeal of social gaming. Enhanced in-game communication tools and gamification elements further enrich the social aspect of gaming. Additionally, the rise of virtual economies and digital collectibles, such as non-fungible tokens (NFTs), motivates players to engage in social interactions to trade, collect, and showcase digital assets. Changing consumer preferences towards more interactive and immersive entertainment experiences drive the demand for social gaming, reflecting a broader shift towards community-oriented forms of entertainment.

 

Select Competitors (Total 136 Featured) -

• Activision Blizzard, Inc.
• Aeria Games GmbH
• Behaviour Interactive, Inc.
• Blizzard Entertainment, Inc.
• DeNA Co., Ltd.
• Electronic Arts, Inc.
• Etermax
• GREE, Inc.
• Miniclip SA
• Peak Games
• Playtech plc
• PopCap Games, Inc.
• Pretty Simple
• Social Point
• Supercell
• SYBO Game
• Wooga GmbH
• Zynga, Inc.

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