The global mobile gaming market is growing in an unprecedented rate. Over the last few years, the mobile gaming sector has evolved to become the largest revenue contributor in the global gaming industry, representing over half of its overall revenue generated worldwide. With the rapid growth in smartphone penetration and hardware innovations, an increasing number of gaming companies are taking the opportunity to reach out to gamers on their mobile screens. Due to these factors, it is expected the global mobile gaming market will show no signs of slowing down and will continue its strong over the next few years.
Global Mobile Gaming Market Analysis
Mobile games are played either using internet connectivity or by installing non-network mobile gaming applications that are pre-installed or downloaded from application stores such as Google Play and App Store. Owing to an augmented demand for mobile gaming, developers are nowadays increasingly focusing on providing gamers with a better experience by developing and designing high-end graphics-oriented games. Moreover, the introduction of advanced audio and video products that can be attached to mobile devices like VR and AR devices and an increase in the speed of mobile networks like 5G to support mobile gaming are some of the major factors that will drive the growth of global mobile gaming market in the near future.
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According the latest industry forecast, the global mobile gaming market will be worth approximately USD 100 billion in terms of annual revenues by the year 2021, despite the fact that the majority of the most popular and successful mobile games are actually free to download. One of the biggest revenue generating channels for mobile games is the in-game purchase, meaning that gamers have the option to purchase additional privileges within the games — such as upgrading a character or simply being able to proceed to the next level. The easy in-game payment methods such as a debit/credit card or PayPal is also facilitating the growth of the mobile gaming revenues worldwide.
In terms of regional markets, the Asia Pacific currently owns the largest global mobile gaming market share, with China being the world’s the largest mobile gaming market, representing a quarter of the world’s market revenue. Meanwhile, the US mobile game market size is also growing with a strong pace. It is estimated that the US has about 210 million mobile gamers in 2019 and it is projected to reach 213 million in 2020.
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Future Trends of the Mobile Gaming Market
The adoption of VR and AR devices such as smart glasses, head-mounted devices, and VR Cardboard in the mobile gaming is likely to increase over the next few years, mainly because of the rising demand of gaming experiences. These developments will enhance consumer experience and interest in mobile games. The growing ability of handset that supports these technologies and the option to integrate these technologies in smartphones are key reasons for their popularity.
There are also growing number of gaming companies who are collaborating with mobile app developers to roll out mobile versions of console and PC games. For example, Nintendo collaborated with Niantic to launch the mobile game Pokémon Go, while Bluehole joined with Tencent to produce PlayerUnknown’s Battlegrounds in China. Some of the other world’s leading game producing companies are acquiring their way into mobile gaming market. For instance, Tencent has partly or wholly purchased several subsidiaries to set its foot into the global mobile gaming market, including Glu Mobile, Netmarble, Pocket Gems, and Supercell.
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Check Technavio’s Global Global Gaming Market Report 2018-2022
Check Technavio’s Global Gaming Market Report 2018-2022 for more market insights. This market research report provides the latest market size and market development for major market segments in terms of product types and regional market landscape. The report contains detailed market trends, market drivers, market challenges and key opportunities. In-depth market analysis such as Porter’s five force model, and comprehensive competitive landscape including detailed profiles of top companies are also included in the report.
