Mobile gaming has grown exponentially in the past few years owing to the wide availability of smartphones and data connectivity. Mobile games are convenient, time-saving and can be enjoyed anytime, anywhere without the need for dedicated gaming hardware or large installation files. As the mobile games market continues to grow in popularity, genres such as action, strategy and role playing games are becoming mainstream.

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.

 

Market key trends:

 

The increasing user engagement is one of the major trends driving the growth of the mobile gaming market. Mobile gamers are spending more time playing games on their smartphones. Growing internet connectivity and high-speed mobile networks have reduced latency issues, enhancing the gaming experience for users. Game developers are focusing on creating engaging gameplay and live ops strategies to keep users playing for longer durations. In-game advertisements, in-app purchases and seasonal events/updates are some of the strategies used to increase user retention. The growing time spent on mobile games is encouraging developers and publishers to invest more in the development and marketing of high-quality games. This will help accelerate revenue growth in the coming years.

 

Segment Analysis

The global mobile gaming market is dominated by casual gaming sub-segment. Casual gaming refers to light-hearted forms of gaming like puzzle games or match-3 games that require less time commitment and cognitive skills. This sub-segment accounts for over 50% of the market share due to increasing preference of mobile users towards quick-session, easy-to-learn games that can be enjoyed during commute or short spare times.

 

Key Takeaways

The Global Mobile Gaming Market Share is expected to witness high growth over the forecast period of 2023 to 2030. 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.

Regional analysis shows that Asia Pacific region currently dominates the market owing to high mobile penetration and growing popularity of mobile games especially in countries like China, India, and Japan. The region is expected to continue its dominance during the forecast period driven by increasing number of mobile gamers.

 

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. These companies are focusing on new game releases and live operations to engage existing gamers and acquire new users. They are also investing in cloud gaming solutions to take advantage of 5G proliferation and drive the next phase of growth.

 

Partnerships with mobile operators and device manufacturers will be crucial for game studios and developers to gain exposure and increase penetration in both developing and developed markets. Emergence of augmented reality and virtual reality technologies also provide avenues for immersive gaming experiences on mobile platforms.


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