The global Social Gaming Market is estimated to be valued at US$ 31.61 Bn or Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Social gaming involves playing games via social media platforms or multiplayer online battle arenas. Social games allow users to interact with one another through various messaging and chat platforms. The advantages of social games include the ability to connect and play with friends, in-game chat features, live leaderboards, and asynchronous gameplay.

Market key trends:
One of the major trends in the social gaming market is the increasing smartphone and mobile internet penetration across both developing and developed regions of the world. Mobile gaming has become the largest segment of the overall social gaming market due to the increased availability of affordable smartphones and high-speed internet connectivity. According to a report, smartphone users around the world are expected to account for 80% of the total number of mobile phone users by 2023, thereby driving the demand for social mobile gaming applications.
SWOT Analysis

Strength: Social gaming provides an engaging experience for players to interact with friends and family. It allows players to connect socially through gaming.
Weakness: Players may get addicted to social games and spend excessive time and money on in-app purchases. Additionally, games need regular updates to remain engaging.
Opportunity: Growing smartphone and internet penetration in developing markets provide an opportunity to access untapped users. Advances in technologies like augmented reality can enhance the gaming experience.
Threats: Changes in consumer preferences can shift players towards newer gaming and entertainment formats. Increased competition from other forms of social media and entertainment apps poses a threat.


Key Takeaways

The Global Social Gaming Market Demand is expected to witness high growth, exhibiting a CAGR of 16% over the forecast period, due to increasing smartphone and internet penetration globally. The growing popularity of hyper-casual and social gaming genres is driving the market.

Regional analysis: North America accounts for the largest share in the social gaming market currently. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to the booming mobile gaming industry and growing internet connectivity in countries like India and China.

Key players operating in the Social Gaming market are Zynga, Inc., Wooga GmbH, Playtika Ltd., King, Tencent Holdings Ltd., Electronic Arts, Inc., Renren Inc., CrowdStar, Booyah Inc., and Social Point. The market is concentrated with top players such as Zynga, DoubleU, and Playtika accounting for over 35% of the market share. Companies are focusing on expanding their gaming portfolios and live operations to engage users for longer periods.

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