30.09.2021 Бизнес

Webgame Market Size, Trends, Company Profiles, Growth Rate, Trends and its Emerging Opportunities

Smartphones and tablets of contemporary times feature higher speeds, larger screens, better processors, and high definition (HD) displays, owing to which, they have become feasible for gaming from any location and at any time. These devices also feature high configurations, which support all types of games. Additionally, the rapid advancements in the mobile communication sector are enabling gamers to play online games without any graphic or speed issues.

Besides, the rising penetration of 4G and 5G is also assisting players in playing online games on smartphones, with few connectivity issues. In addition, the surging use of social media, owing to the increasing internet and smartphone penetration, also help the webgame market progress at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market was valued at $3.5 billion in 2019 and it is expected to generate $6.5 billion revenue by 2030.

Webgame developers are using social media platforms, such as Instagram, Twitter, and Facebook, to market their products and lure more customers. For instance, Zynga Inc. offers Spades Plus, Farmville, Crazy Kitchen, Hit It Rich, and 101 Okey Plus on Facebook. Currently, players are opting for sports games, arcade, MMORPG, first-person shooter, and real-time strategy games, which are available in free-to-play and pay-to-play models.

In the coming years, the free-to-play model will be preferred over the pay-to-play model as developers do not charge customers for such games and instead, monetize their products through advertisements. For example, Tencent Holdings Ltd., one of the leading webgame developers, is pushing its microtransaction-based games online to increase its revenue.

This market research report provides a comprehensive overview of the market

* The Future potential of the market through its forecast for the period 2020– 2030

* Major factors driving the market and their impact during the short, medium, and long terms

* Market restraints and their impact during the short, medium, and long terms

* Recent trends and evolving opportunities for the market participants

* Historical and the present size of the market segments and understand their comparative future potential

* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings