The global webgame market generated a revenue of $3.5 billion in 2019 and is predicted to attain a valuation of $6.5 billion by 2030. According to the estimates of PS Intelligence, a market research firm based in India, the market would progress at a CAGR of 5.7% between 2020 and 2030. The growing usage of tablets and smartphones and the increasing utilization of social media are the prominent two factors driving the growth of the market across the globe.
Both developing and developed nations have witnessed a sharp surge in the usage of tablets and smartphones over the last few years. Moreover, according to GSMA Intelligence, the worldwide penetration of smartphones is predicted to rise from 60% to 79% from 2018 to 2025. With rapid technological advancements in mobile communications, the popularity of online games is growing rapidly as people are now able to play these games without graphics issues or lag.
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With the development of advanced devices having better processors, higher speeds, larger screens, and high-definition (HD) displays, people are able to play games anytime and anywhere without worrying about the device breaking down. The present-generation smartphones feature advanced configurations that support various types of games. Furthermore, the increasing penetration of the 5G and 4G networks is eliminating internet connectivity issues, which is, in turn, boosting the popularity of mobile games across the globe.
This market research report provides a comprehensive overview of the webgame market
- Historical and the present size of the webgame market
- 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
