Experts Predict a $17.4 Billion Social Gaming Industry in 2019
This latest study predicts that the social gaming market will maintain its dramatic ascension, reaching an astounding $17.4 billion value by 2019. Smartphones, tablets, and mobile devices' rapid increase in popularity has propelled the industry to new heights, with even traditional gambling companies wishing to join the party.
Back in 2011, Caesars Interactive Entertainment invested a surprising $90 million in Playtika, a then-small startup, with the long-term goal of becoming "the number one in casino and social games on Facebook." Since then, countless other deals have emerged, like IGT - the world's top gaming machine manufacturer - purchasing Doubledown, the world's leading virtual casino, for a stunning $400 million-plus sum. Today, major online gambling platforms like Unibet and PokerStars all have some sort of cross-platform social casino presence, all eyeing the market's potential.
The rise of mobile technology will persist over the next half-decade, propelling the social gaming industry's expansion at a 16.1% compound annual growth rate between 2013 and 2019. With a 2012 market worth of $5.4 billion, the report published by Research and Markets sees a significant rise in the years to come.
Social gaming's rise can be attributed to the proliferation of mobile devices, the report reveals. The incessant demand for these gadgets has pushed game developers to adapt their strategies, creating games suited for these devices. The increasing number of Internet subscribers has also aided in the market's growth. By 2014, one in three Internet users is predicted to take part in social gaming. The cost-free nature of online games is yet another driving force behind the market's rise.
Nowadays, around 200 million people enjoy playing social games online. And by 2019, that figure can double. Additionally, gamification is gaining traction among mainstream businesses as a way to attract and keep customers. By employing gaming features such as points, levels, challenges, leaderboards, and more, businesses create engaging online communities.
Would you believe it, social gaming customers spend more than half their time on social media playing games?
The report stated, "People have always found video games intriguing, but these console games often carry hefty price tags that not everyone can afford. Nowadays, individuals spend most of their online time on Facebook, Twitter, and other social networks, maintaining connections with friends and family."
But hang on, what about... "MySpace? Does anybody still use MySpace?"
Let's return to the quote at hand.
"During their time on the web, the users dedicate over 50% of it playing games with friends and colleagues. Many game developers aim to capitalize on the social media market with the development of games specifically designed for these platforms."
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