Saturday March 16,2013 : GOOD GROWTH PREDICTED FOR SOCIAL GAMING
15.96 percent CAGR by 2016 says research firm
A new study of the social gaming phenomenon conducted by Dallas-based Reportsnreports predicts that the market will grow at 15.96 percent compound annual growth rate (CAGR) during the period 2012 – 2016.
The research report “Advanced Analytics in the Social Gaming Industry 2012” flags the considerable potential for growth in the sector, noting that there are a number of drivers, chief among which is the need for strong consumer relationships delivered by the growing number of companies occupying different aspects of the business space, and the availability of advanced analytical technology to aid marketers.
Challenges facing operators are high implementation costs, and the study shows that consolidation in the sector is likely – larger and better funded companies taking over less well developed "niche" vendors.
The high growth rate means that investors are showing a growing interest in social gaming companies, and this is likely to develop further in the near future, the research company predicts.
The global report covers the covers the ‘gamification' market landscape and its growth prospects in the coming years, along with a discussion of the key vendors operating in the market.
Reportsnreports expects gamification (the use of game thinking and game mechanics in order to engage users) growth to reach $3.6 billion by 2017. It is also estimated that by 2017, 80 percent of Global 2000 organisations will have gamified applications and processes.