SOCIAL GAMING MARKET ANALYSIS

Global social gaming market faces high levels of competition among various game developers and platforms. With many new game development companies entering the market every year, it is becoming increasingly difficult for existing players to retain their customers and user base. Developers are constantly needing to come up with innovative game concepts and immersive experiences to stay ahead of their competitors. Major tech platforms such as Facebook, Snapchat, and Amazon are heavily promoting their social gaming sections, posing a threat to traditional game developers. This heavy competition drive down profit margins and put pressure on companies to aggressively market their new titles.

Market Opportunity- Growth of virtual reality (VR) and augmented reality (AR) in gaming

Increasing adoption of virtual reality (VR) and augmented reality (AR) technologies provides a massive opportunity for social gaming market growth. VR and AR can revolutionize the way games are designed and played by offering truly immersive experiences. Major players have started heavily investing in developing advanced VR and AR gaming capabilities. As required hardware becomes more affordable and accessible to mainstream users, many common social games will likely incorporate VR and AR features to captivate players. This shift could attract a whole new demographic of gamers to social and mobile platforms. If leveraged properly through innovative game design, VR and AR functionalities can help company’s lock-in customer engagement and stay at the forefront of the ever-evolving social gaming domain.