ID: MRFR/ICT/4852-HCR | 100 Pages | Published By Aarti Dhapte on March 2023
Mobile gaming is quite popular nowadays, and games like BGMI, PUBG Mobile, Call of Duty Mobile, and such are trending nowadays. The global market of games will have an increase in value because of the increasing usage of smartphones. Although due to covid 19, chain units and manufacturing facilities of various industries across the globe were affected. This has impacted the smooth supply of devices, such as smartphones, consoles, laptops, personal computers, and smart TVs. The mobile gaming market had a value of USD 68.5 billion in the year 2020 and is expected to reach USD 248.4 Billion by the year 2030. This data shown by the mobile gaming industry is expected to grow at a CAGR of 13.60% over the forecasted period of 2022 to 2030.
Covid-19 Analysis:Due to the current situation of coronavirus the small, medium, and large businesses are affected. Due to the complete shutdown manufacturing units were drastically affected. Lack of workers and government policies dragged the market down during the year 2020. The global mobile gaming market will reach USD 235.10 billion during the forecasted period. This data shown by the mobile gaming industry is expected to grow at a CAGR of 10.5% over the forecasted period of 2021 to 2028.
Market Dynamics:Drivers:The major factors that are aimed to improve mobile gaming market growth are the internet-based online games due to their increasing demand for games from children as well as adult users. With such a wide customer base mobile gaming applications all show developmental trans worldwide. The factors include the presence of adults, especially the working ones. Demographic research shows that around 55% of the gamers are mid-aged, that is between 25 to 45 of which only 8% of them are teenagers. In addition to this other factors include the introduction of hyper-casual games which are expected to change the gaming industry faster. People of all age groups prefer Hyper casual games because of their better interface, ease of usage, and smaller size. These games are apt and precise for entertainment and casual fun. The word hyper-casual hairstyles for the requirement of inadequate skills or no requirement of any special skills. These games are easy to play and include angry birds and candy crush. These two games became the most downloaded casual games on mobile.
OpportunitiesThe opportunity to boost the mobile gaming industry increasing mobile gaming application development which has now become a mobile gaming market trend. Games were not recognized as a field of the profession until the 21st century. Due to the seamless opportunities for the gaming industry more and more people contribute to the mobile gaming world. This creates various mobile gaming market opportunities. Other opportunities include the revenue from the gaming industry which is growing steadily over the past few years.
Restraints:Few factors that act as restraints and hinder the growth of the mobile gaming market include the paid version model. In this model the user has to buy the app at one-time payment or some periodic subscription fee may be applicable. The subscription model does help to generate recurring revenues to the companies however this is the least preferred model for most of the users. Because one-time payment shows advertisements, as well as periodic subscription, becomes more beneficial for a company rather than the users.
Value Chain Analysis:There are various benefits offered by the mobile gaming market including the C2 play pricing model, where a user does not have to pay for downloading and playing the particular game. However one needs to notice that in-app advertisements do act as a key source of revenue for such companies. But the solution stands here that companies offer in-app purchases where you can download the game for free, however you need to pay for some extra features. Hence the company may or may not opt for in-app advertising revenue from any paid users. The most appropriate example of in-app purchase includes the prime membership in Amazon. Amazon is free for all users but its prime membership offers some extra features which may not be available for non-paid users.
Market Segmentation:The mobile gaming market can be segmented based on device type insights, operating system type insights, enterprise type insights, end-use insights, and regional insights. These are mentioned down below-
Based On the Device Type:Based on device type inside the mobile gaming market is divided into smartphones and tablets.
Based On the Operating System Type:The global mobile is classified based on operating system type insights into Android, iOS, etc.
Based On the Enterprise Type The market for mobile gaming is divided based on enterprise-type insights into large organizations, SMEs, and startups.
Based On the End-Use:The mobile gaming insights based on end-use insights are bifurcated into retail, media and entertainment, travel, healthcare, and others.
Based On the Region:Based on the region, the mobile gaming market is divided into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Regional Analysis:Mobile gaming market size is divided into Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa.
North America emerges as the largest mobile gaming market shareholder. North America has the most prominent revenue share of about 30% in 2020. The factors for such growth include an increase in the use of OTT content in the region.
The Asia Pacific stands 2nd in the queue. China has grown exponentially in the mobile gaming market due to the sale of smartphones which has increased significantly in the country. Defectors include static mobile gaming that indicates a great future growth potential from hardware suppliers to a global gaming developer. Also, gaming tournaments have increased in the region. Listening to this, India's mobile gaming market growth is also high and is expected to grow even higher due to the number of users that Is expected to reach 730 million by 2022.
Also, the Japan mobile gaming market indicates high growth in the FPS and racing games category.
The European country market is the most prominent mobile gaming market. The European mobile gaming app market has the largest number of gamers. European market as expected during the mobile gaming market forecast shows the highest CAGR. However, the countries of China still hold the topmost position. The Chinese smartphone market is keeping the local market growth within buoyancy.
Competitive Landscape:The prominent key players of the mobile gaming market in the global market are mentioned down below-
These key players play a major road in the dynamics and growth of the mobile gaming market. These major key players opt for many strategies and policies to widen their customer base. These policies and strategies mainly include collaborations, mergers, acquisitions, extensions, joint ventures, establishments, new production processes, innovations, technology widening the existing products, partnerships, etc. All these important methods are opted to get the needs of customers and develop a strong potential growth base.Report Overview:In 2020, the market reached a value of USD 68.5 billion and is expected to reach USD 235.10 billion by the year 2028. The CAGR of the mobile gaming market during the forecasted period is 10.5%. The global Mobile gaming market in the global market research report consists of the following elements which are mentioned down below-
Report Overview:In the global Mobile gaming market research report, there are major factors that drive the growth of the market. The report consists of opportunities that may further in the future and hands the global market of the TIC. Various factors restrain the growth of sugar-free confectioneries and hamper the development of such a fine-based market. The research report also consists of various analyses based on Covid 19 impact market dynamics, different segmentations, regional analysis, etc. This research report also consists of various strategies and policies followed by the major key players that drive the Mobile gaming market. The future growth rate is also discussed and mentioned in this research report.
|Market Size||USD 248.4 Billion By 2030|
|CAGR||13.60% From 2022 to 2030|
|Forecast Units||Value (USD M illion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Type, Platform|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Google, Inc. (US), Apple, Inc. (US), Activision Blizzard, Inc. (US), Sony Corporation (Japan), Tencent Holdings Ltd. (China), Electronic Arts Inc. (US), Nintendo Co. Ltd. (Japan), Ubisoft Entertainment SA (France), Gameloft SE (France), Glu Mobile Inc. (US) and MocoSpace (US).|
|Key Market Opportunities||Mobile gaming has enhanced the experience of wireless multiplayer gaming owing to the developing Internet services and emerging wireless technologies such as Wi-Fi, Wimax, Bluetooth, and others.|
|Key Market Drivers||The increasing digitalization and adoption of cloud-based services in these countries has improved the game development & multi-player experience which is influencing the market of mobile gaming in Asia-Pacific positively.|
Mobile gaming Market to record a CAGR of 13.60% CAGR and will reach up to US$ 248.4 Billion by 2030.
The Major Key Players in Mobile gaming Market are IBM corporation, Alphabet INC, Oracle corporation, Millennial media & many more
The market is estimated to perceive an influential income level in the forecast period.
The market is projected to gain a lucrative CAGR in the forecast period.
The massive user base in the North American region is estimated to benefit the market.
Mobile gaming has enhanced the experience of wireless multiplayer gaming owing to the developing Internet services and emerging wireless technologies such as Wi-Fi, Wimax, Bluetooth.