HomeBusiness NewsRising Adoption of Tablets and Smartphones Driving Webgame Market Growth

Rising Adoption of Tablets and Smartphones Driving Webgame Market Growth

A number of factors, such as the surging use of social media, rising adoption of tablets and smartphones, increasing internet penetration, and rising number of online gamers across the globe, are expected to drive the growth of the webgame market at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market is expected to reach USD 6.5 billion by 2030. Moreover, the market is witnessing the surging fondness for real-time browser games among online gamers.

One of the prime factors aiding the webgame industry is the increasing adoption of tablets and smartphones. For instance, according to the GSMA Association, the smartphone penetration rate across the globe is projected to rise to 79% by 2025 from 60% in 2018. The swift developments in the telecommunications sector are helping individuals in playing online games easily, without any issue of graphics and speed. With the help of smartphones, people can pay games anytime, from anywhere, as they come with better processors, speed, and displays and larger screens, which support online games.

Moreover, the surging use of social media platforms, such as Facebook, Instagram, and Twitter, is driving the market growth. These social network platforms are the new forms of online interaction among people. On a daily basis, nearly 3.5 billion people across the globe actively use these social media platforms. In the U.S., nearly two-third adults of the country have a Facebook account, the highest among all social platforms. These platforms encourage the young population to go for online games.

The genre segment of the webgame industry is categorized into real-time strategy games, first-person shooter, sports games, massive multiplayer online roleplaying games (MMORPG), and arcade. Among these, the first-person shooter category is projected to record the highest CAGR in the market during the forecast period. This can be attributed to the fact that this type of game is gaining vast acceptance owing to its thrilling nature. Moreover, the shorter sessions of these games as compared to others and their advanced features are driving their popularity among gamers.

Moreover, the market is classified into 3–17, 18–24, 25–34, 35–54, and above 55 based on age group. Of these, the 25–34 age group category accounted for the largest revenue share in 2019, and it is projected to dominate the market during the forecast period as well. This is ascribed to the rising spending of customers of this age group on online games. Moreover, due to the surging penetration of smartphones and internet, the number of women gamers in this age group is increasing.

Geographically, the Asia-Pacific (APAC) webgame market generated the highest revenue in 2019, and it is also expected to witness the most-rapid advance during the forecast period. This is ascribed to the surging disposable income of the people in developing countries like India and China, rising adoption of personal computers, laptops, smartphones, and tablets, increasing penetration of the internet, growing consumer spending, and presence of key market players and a large number of gamers in the region. For instance, the per capita disposable income in India in 2018–2019 increased by 10% as compared to 2017–2018.

Thus, the surging adoption of tablets and smartphones, rising number of online gamers, and increasing internet penetration are expected to propel the market growth across the world during the forecast period.