According to a new study by BlueWeave Consulting, the global social gaming market was worth $16.7 billion in 2020. The report also showed that the market will be worth $31.6 by 2027, growing at a CAGR of 11.4% over that time.
“The global social gaming market is witnessing positive growth owing to major factors like rising investments in state-of-the-art gaming technologies, and rising UI/UX potential which is enhancing the gaming experience. Additionally, booming adoption rates of online gaming content, and the increasing penetration of digital technologies in developing regions around the world, have enabled various end-users to download and stream gaming content on their OS (Operating System),” the report said. “Additionally, the introduction of cloud-computing technologies and the penetration of smartphones have augmented the growth of the global social gaming market.”
BlueWeave Consulting is a market research company based in India. According to LinkedIn, the privately-held company has between 11 and 50 employees.