Mobile Gaming Market is Expected To Surpass USD 284.4 Billion at a 13.60% CAGR by 2030 - Report by Market Research Future (MRFR)
Rise of 5G to Boost Global Mobile Gaming Industry
New York, US, Jan. 11, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Mobile Gaming Market Research Report, by Type, Platform, Device and Region - Global Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 284.4 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 13.60% during the assessment timeframe.
Mobile Gaming Market Key Players
Eminent players profiled in the global mobile gaming market report include-
- 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)
- MocoSpace (US)
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December 2022- The concept of mobile gaming for the next generation has been investigated by MG using a virtual map that is projected onto the ground directly in front of the vehicle.
Mobile Gaming Market Report Scope:
|Revenue forecast in 2030||USD 69.32 Billion|
|Growth Rate||CAGR of 13.60% from 2022 to 2030|
|Key Market Opportunities||Rising Smartphone Penetration to offer Robust Opportunities|
|Key Market Drivers||Rise of 5G to Boost Market Growth|
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Mobile Gaming Market Dynamics
Rise of 5G to Boost Market Growth
The rise of 5G will boost market growth over the forecast period. Real-time multiplayer & augmented reality are just two examples of the new gaming experiences that 5G networks will make possible since they offer much faster bandwidth and reduced latency than existing 4G networks.
Rising Smartphone Penetration to offer Robust Opportunities
The rising smartphone penetration will offer robust opportunities for the market over the forecast period. Smartphone use is expanding for a number of reasons, including rising internet usage, rising social media usage, easier communication, more affordable phones with better features, social standing, rising income, dependence on phones, and others. Given how widely utilized cell phones are for playing games and enjoying leisure, there will be a considerable increase in the demand for mobile gaming.
Restraints and Challenges
User Privacy Issues to act as Market Restraint
Security and user privacy issues as well as strict regulation may act as market restraints over the forecast period.
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Mobile Gaming Market Segmentation
The global mobile gaming market is bifurcated based on end-use, enterprise type, operating system type, and device type.
By device type, smartphones will lead the market over the forecast period.
By operating system type, Android will dominate the market over the forecast period.
By enterprise type, the mobile gaming market is segmented into startups, SMEs, and large organizations.
By end use, the mobile gaming market is segmented into healthcare, travel, media and entertainment, retail, and others.
COVID-19 Analysis of Mobile Gaming Market
According to MRFR's impact research on COVID-19, more games and applications are being downloaded as a result of individuals staying at home more often. Since SARS-CoV-2 is anticipated to persist, demand for social networks and mobile games is only anticipated to soar among households. The move toward working from home and the closure of universities and schools have increased demand for mobile gaming. There is no doubt that people being confined has given them more time to play mobile games, which has caused mobile games to soar in the app stores and acquire top ranking. Experts believe that the gaming business will increase tremendously in the near future, which will lead to a rise in mobile gaming. For instance, a recent global study based on the COVID-19 analysis shows that in the EMEA & LATAM region, mobile games have emerged as one of the primary sources of entertainment, with nearly 85% of all consumers in the region now using mobile gaming to pass the time while engaging in social isolation.
Businesses worldwide have undergone a dramatic transformation since the discovery of the novel coronavirus, with the ICT sector potentially standing to gain the most in the long run. The parent industry, ICT, has a direct impact on how quickly mobile gaming expands. Future demand for remote delivery models will soar as more and more international IT vendors digitize their business operations and invest heavily in contemporary infrastructure and collaboration solutions. The accelerated adoption of digital transformation has been consistent with the recent trends in cloud computing and mobility. In summary, despite the long-term effects of COVID-19, the market for mobile gaming may be aided by the growing IT sector, the pervasiveness of the digitalization trend, and the current state of lockdown.
North America to Domineer Mobile Gaming Market
Given the high popularity of e-sports, the sizeable population of smartphone users, and the rapid growth of the internet, North America is anticipated to offer the players the greatest growth potential in the years to come. With the fastest global growth of any nation, the United States (US) is the most lucrative market in the area for mobile gaming. The nation is home to some of the most well-known gaming businesses, including Apple Inc. (Apple), Nintendo, Microsoft, Sony Corp., and Google LLC (Google), to mention a few. To improve the gaming experience and draw in more players, these businesses are boosting their investments in AR technology, which eventually benefits the local market significantly.
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APAC to Have Favorable Growth in Mobile Gaming Market
In the coming years, APAC has a chance to grow rapidly in the mobile gaming market. The expansion of tablet, smartphone, and other smart device usage in China, South Korea, and India guarantees the regional market's success. The multi-player experience has been improved, and this has also helped to fuel the expansion of the mobile gaming market in the area, thanks to the increased prevalence of digitalization and the rising acceptance of cloud-based services. Given the growing number of mobile gamers, India presents a significant growth opportunity for the players. For instance, Ludo King rose to the top of the mobile gaming charts in India in just a few short months in 2020. It is loaded with elements like multiplayer support and a variety of themes that appeal to the younger demographic.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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