NEW YORK , May 12, 2022 /PRNewswire/ — The total size of the mobile gaming market was $93,163.8 million in 2021, and it is likely to grow at a CAGR of 12.2% and reach $261,586.3 million in 2030. The increasing acceptance of advanced technologies for making games, along with the growing use of smartphones, is a significant contributor to the development of the market. Furthermore, the budding popularity of esports is a key influencer for the market.
The gaming business has become more scalable with the development of mobile games. Moreover, with the rising usage of social media on these devices, Facebook and Instagram have started featuring mobile games with the intention of leveraging gripping games to market products and services.
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Key Findings of Mobile Gaming Market Report
- There has been a substantial increase in the demand for digital entertainment, particularly smartphone games. Major mobile game publishers have witnessed a massive surge in downloads in pandemic-affected markets.
- Cloud gaming is trending in the mobile gaming market, offering better growth opportunities for providers. This off-premises deployment model has been espoused by an assortment of technology companies and cloud gamers as it lessens the necessity for memory on smartphones to run the game.
- Google Play had the largest market share, of more than 60%, in 2021. The sale of smartphones based on the Android OS is expanding in developing countries, such as India, Braziland Chinawhich is increasing the total number of game downloads through the Google Play Store.
- The freemium model is projected to observe the highest CAGR, of more than 10%, during the forecast period. In a freemium game, the basic game edition is available absolutely free of cost; nevertheless, the user has to pay for the additional functions or up-gradation of levels.
- In 2021, the 24–44 years age group had the largest market share due to its greater acceptance of progressive technology. Additionally, the majority of the smartphone users fall in this age bracket, as they are technically sound and enthusiastic to try new products.
- The APAC mobile gaming market is being driven by a surge in internet usage, along with the increasing sales of mobile phones owing to the growing middle-class population in an emerging species.
Browse detailed report on Mobile Gaming Market Size, Share, Trends, Emerging Opportunities, And Top Key Players By 2030
In February 2021the Government of India announced the creation of a center of excellence in gaming, in partnership with IIT Bombay, to endorse Indian beliefs and cultural philosophy. The government is working to advance local mobile gaming apps, which will aid the country’s mobile gaming companies to flourish.
The key players in the mobile gaming market are involved in mergers and acquisitions to consolidate their position. The stalwarts include Tencent Holdings Limited, Nintendo Co. Ltd., Zynga Inc., Activision Blizzard Inc., Electronic Arts Inc., GungHo Online Entertainment Inc., Kabam Games Inc., Rovio Entertainment Corporation, Games Inc., and NetEase Inc.
Mobile Gaming Market Segmentation Analysis
By Age Group
- Below 24 Years
- 24–44 Years
- Above 44 Years
By Business Model
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
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