Mobile Gaming Market

Mobile Gaming Market is Expected to be Flourished by Increasing Smartphone Penetration and 5G Technology

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Mobile gaming refers to playing games on devices such as smartphones and tablets. It includes downloading and playing games from app stores or through a mobile browser. Key types of mobile games include action, adventure, arcade, puzzle, role playing, and simulation. Advanced gaming experiences and realistic graphics are driving the adoption of 5G-enabled smartphones for gaming.

 

The global mobile gaming market is estimated to be valued at US$ 91.08 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The mobile gaming market has expanded rapidly in recent years due to increasing penetration of smartphones across the world. Growing availability of high-speed internet networks has enhanced the mobile gaming experience for users. Rising downloads of gaming apps from app stores such as Google Play Store and Apple App Store are fueling revenue growth of gaming companies. Game developers are focused on introducing augmented reality and virtual reality integrated games to tap new opportunities in the market. The global mobile gaming market is estimated to reach a value of over US$ 105 Bn by 2024.

Market Dynamics:

The increasing penetration of smartphones is driving the growth of the mobile gaming market as games can be easily accessed on mobile devices. According to statistics, over 3.8 billion people own smartphones globally in 2023. Advancements in network technologies such as the roll-out of 5G is expected to provide improved connectivity and user experience for cloud, multiplayer, and immersive gaming. 5G’s ultra-low latency and multi-Gbps peak speeds will allow higher resolution graphics and seamless shifts between online and offline gameplay. This opens new avenues for complex console-like game genres in the mobile segment. Game developers are continuously innovating to enhance gameplay and graphics on 5G-enabled smartphones and tablet devices. The integration of advanced technologies like augmented reality and virtual reality is revolutionizing the mobile gaming experience and engagement.

Segment Analysis

The mobile gaming market can be segmented by game type, platform, payment mode, age group, and region. The action game segment dominates the market with a share of over 25% as these games are quick to play and have high engagement. Action games like shooter games and car racing games are very popular among mobile gamers of all age groups.

PEST Analysis

Political: The mobile gaming market sees some regulations around in-app purchases and gambling/loot box mechanisms in certain regions like Europe. However, the regulations are not stringent.

Economic: The penetration of affordable smartphones in developing regions and increasing internet connectivity is fueling the growth of the mobile gaming market. Gamers are also willing to spend on in-app purchases.

Social: Mobile gaming is accepted as a mainstream entertainment medium. It is not seen in a negative light unlike few years back. Gamers across age groups from kids to elderly people play games on mobile phones.

Technological: Advancements in smartphones, processors, graphics, and 5G networks are enhancing the gaming experience. Cloud gaming and AR/VR technologies will further augment mobile gaming.

Key Takeaways

The Global Mobile Gaming Market Share is estimated to be valued at US$ 91.08 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.

 

Regional analysis The Asia Pacific region dominates with over 40% share led by countries like China and India. The region is expected to continue its leading position with high adoption of mobile phones and strong growth of gaming culture.

Key players The key players operating in the mobile gaming market are Activision Blizzard, Inc., Electronic Arts, Inc., Gameloft SE, Niantic Inc., Glu Mobile, Inc., GungHo Online Entertainment, Inc., Kabam, Rovio Entertainment Corporation, Supercell Oy, The Walt Disney Company, and Zynga, Inc. Key players like Tencent and NetEase have a strong presence in Asia while Activision Blizzard, Electronic Arts and Zynga dominate the global market. The mobile gaming market is consolidated with top players accounting for over 50% share.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it 
Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.