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Oct 13, 2020 3:06 AM ET

Increasing Use of Social Media is Boosting the Growth of the Webgame Market


Increasing Use of So

iCrowd Newswire - Oct 13, 2020

The adoption of smartphones and tablets has been increasing across the globe. According to the GSMA Intelligence, the worldwide smartphone penetration is projected to rise from 60% in 2018 to 79% by 2025. The adoption of these devices is particularly increasing emerging economies, owing to the growing disposable income. The improvements and advancements in the mobile communication industry are further aiding people to play games without facing any graphics or speed-related issues. 

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Ascribed to this, the global webgame market is predicted to generate a revenue of $6.5 billion by 2030, rising from $3.5 billion in 2019, advancing at a 5.7% CAGR during the forecast period (2020–2030), according to a study conducted by P&S Intelligence. Other than growing use of smartphones, the rising utilization social media is also resulting in the growth of the market across the globe. At the present time, Facebook, Instagram, and Twitter are introducing various forms of social interaction. 

This market research report provides a comprehensive overview of the webgame market market

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It has been found that about 3.5 billion people use social media platforms on a daily basis. For example, about two-thirds of adults have a Facebook account. This is the highest among all social platforms. In order to capture the attention of people, various browser developers are providing games on these platforms, thereby resulting in the growth of the market. Webgames can be multiplayer and individual, among which, the penetration of individual player games has been higher in the past. 

These games are played from the protagonist’s viewpoint, which makes them thrilling for gamers. Moreover, these games are shorter than other variants, and hence are gaining popularity. Geographically, the Asia-Pacific (APAC) region emerged as the largest webgame market in the past, and the situation is likely to be the same in the coming years as well. The growing penetration of tablets, laptops, personal computers, and the internet are driving the regional domain. 

The research includes detailed analysis of;

Based on Player Type

Based on Gameplay

Based on Model

Based on Age Group

Based on Genre

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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