Webgame Market To Generate $6.5 Billion Revenue by 2030

Growth drivers such as the rising penetration of smartphones and tablets, increasing usage of social media, and booming number of internet users will drive the growth of the webgame market at a CAGR of 5.7% during the forecast period (2020-2030). On account of the expanding internet connectivity, individuals across the world are showing more interest in online browser games. In 2019, the market generated revenue of $3.5 billion and it is expected to generate $6.5 billion by 2030.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/webgame-market-insights/report-sample

The amplifying demand for tablets and smartphones will facilitate the webgame market growth in future. The Global System for Mobile Communications (GSMA) states that smartphone penetration will accelerate from 60% in 2018 to nearly 79% by 2025. Moreover, continuous advancements in the mobile communications sector are encouraging people to play more online games without any graphic or speed issue. Contemporary devices offer better processors, large screens, high definition (HD) displays, and high speeds, which enable users to play games anytime and anywhere, as they are no longer dependent on laptops or computers.

Another key factor contributing to the webgame market growth is the escalating use of social media. The usage of social media platforms, such as Instagram, Facebook, and Twitter, have tremendously increased in the last few years. These platforms offer new methods of social interaction and one such example is the availability of online games on these interfaces. At present, nearly 3.5 billion people actively use these platforms on a daily basis. To tap on this immense consumer base, various browser game developers are offering numerous games on social media platforms.

Currently, the webgame market is witnessing the trend of high demand for real-time games. Gamers nowadays are opting for games that are realistic in their flow and allow for rapid decision making and fluid reactions. Real-time games create an ecosystem that is constantly evolving and possessing new problems and hindrances in real time, which should be quickly crossed by an individual to reach to the next level. To progress efficiently, the gamers must understand the entire game, particular situations, and interaction with the game in less time.

Categories under the model segment of the webgame market include free to play and pay to play. Under this segment, the free to play category is expected to lead the market in the forecast period. This is because game developers or publishers do not charge players, as people prefer free games over paid ones. Several free-to-play games generate money through advertisements and a major chunk of this money comes from India and China. Leading market players, such as Tencent Holdings Ltd., are pushing numerous microtransaction-based games to amplify their revenue.

Browse full report at: https://www.psmarketresearch.com/market-analysis/webgame-market-insights

Geographically, the webgame market received the highest revenue from Asia-Pacific (APAC) in 2019 and it is expected to exhibit the fastest growth in the forecast years. This can be attributed to the surging penetration of internet, tablets, laptops, smartphones, and personal computers (PCs); escalating consumer spending; and strong presence of vast gaming population in the region. In addition, the North American and the European markets will also display a notable growth, on account of high internet penetration and huge number of smartphones, tablets, and social media users.

Thus, with the increasing adoption of smartphones and tablets and the proliferating number of internet and social media users, the demand for online games will exponentially rise in the future.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: https://www.linkedin.com/company/pnsintelligence/

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

This release was published on openPR.