The global social gaming market is expected to reach a value of $17.4 billion by 2019, growing at a rate of of 16.1 percent from 2013 to 2019.
According to a new market report published by Transparency Market Research, growth in the usage of Internet and social networking sites has spurred the growth of games over the web. Other factors include the growing demand for smartphones and tablet PCs.
Asia Pacific was the largest contributor in the social gaming market and accounted for a share of 45 percent in 2012. A decline in the prices of mobile devices, including smartphones and tablets, aimed specifically at emerging markets and easy access to the internet has resulted in the growth of social games in the region.
Consequently, the social gaming market in the Asia Pacific territories is predicted to reach a value of over $7 billion by 2019.
There are, however, global impediments currently standing in the way of this growth in the industry. A ban on popular social networks in China and the Middle East is cited as a major restriction on social gaming in those regions.
In terms of global demographics, people aged 19-25 years have contributed the most to the growth of social gaming, and their input is expected to grow further at a rate of 17.3 percent during the forecast period of 2013-2019. Meanwhile, females present the largest gender segment with a share of around 54%.
