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What are Reasons behind Growth of Webgame Market?
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Besides the aforementioned factors, the mushrooming usage of social media platforms is also fueling the expansion of the webgame market. The usage of various social media platforms such as Twitter, Instagram, and Facebook has grown considerably over the last few years. As per many reports, around 3.5 billion people all over the world actively use these platforms daily. For example, in the U.S., almost two-thirds of all adults have a personal Facebook account.
Due to the above-mentioned reasons, the demand for web games is exploding, which is, in turn, driving the advancement of the global webgame market. As a result, the market valuation will rise from $3.5 billion in 2019 to $6.5 billion by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 5.7% between 2020 and 2030. Depending on genre, webgames are classified into sports games, real-time strategy games, massive multiplayer online roleplaying games (MMORPGs), arcade games, and first-person shooters.
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Globally, the webgame market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This will be because of the surging penetration of the internet and laptops, tablets, and personal computers, the surging consumer spending, and the existence of a large gaming population in the region. Apart from APAC, the industry is also predicted to register huge growth in North America and Europe in the coming years.
Hence, it can be said with full surety that the demand for webgames will surge all over the world in the coming years, mainly because of the increasing penetration of the internet and the ballooning number of smartphone and tablet users around the world.
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