Online Smartphone and Tablet Games Market is anticipated to reach $149.93 billion by 2027, growing at a CAGR of 21.8% from 2020 to 2027

According to a recent report published by Report Ocean, titled, “Online Smartphone and Tablet Games Market by Operating System and Game Type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global online smartphone and tablet games market size was valued at $30.49 billion in 2019, and is projected to reach $149.93 billion by 2027, growing at a CAGR of 21.8% from 2020 to 2027.

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Online smartphone games serve as a digital platform, which provides a variety of different gaming applications to end users. Online smartphone and tablet gaming applications offer significant potential to app developers as well as enterprises in international markets due to their associated benefits such as cost savings, high profit margins, easy access, better customer management programs, and intense market presence. Furthermore, numerous factors such as smartphone proliferation, low-cost data usage, and advancement in networking are the factors that boost the market growth.

Moreover, advancement in mobile development platform and rise in adoption of free-to-play business model drive the growth of the market. In addition, rise in penetration of smartphones and tablets across the globe propels the growth of the market. However, increase in concerns related to security and privacy issues hampers the growth of the market. On the contrary, surge in cloud-based gaming application in various developed and emerging countries is expected to provide lucrative opportunity for the market.

The massive multiplayer online games segment is expected to garner a significant share during the forecast period. This is attributed to addiction of multiplayer gaming application among the general public and rise in popularity of online gaming. However, the causal segment is expected to grow at the highest rate during the forecast period, owing to increase in trend of casual games across the globe.

Region wise, the online smartphone and tablet games market was dominated by Asia-Pacific in 2019, and is anticipated to exhibit significant growth rate during the forecast period, owing to increase in adoption of multiplayer gaming applications in the developing nations of Asia-Pacific such as China and India.

Various industries around the globe are severely affected by the COVID-19-induced recession; however, impact on the technology sector during the crisis was comparatively lesser than the rest of the economy. The COVID-19 outbreak has positive impact on the growth of the global online smartphone gaming market, due to constantly rising demand for online and mobile phone games. This demand is majorly attributed to rise in adoption of online gaming application in the smartphones and surge in adoption of massive multiplayer gaming application among youth in the developing nations of Asia-Pacific such as China and India. Furthermore, key players of the market are introducing new gaming applications for smartphone and tablet users, which is expected to provide remunerative opportunity for the market expansion during the forecast period.

Key Findings Of The Study

By operating system, the Android segment generated the highest revenue in 2019.
Region wise, Asia-Pacific generated the highest revenue in 2019.
Depending on game type, the massive multiplayer online games segment generated the highest revenue in 2019.
The key players profiled in the online smartphone and tablet games market analysis are Electronics Arts, Inc., Gameloft, Kabam Games, Inc., King Limited, MachineZone, Inc., Melior Games, NCSOFT Corporation, Rovio Entertainment Corporation, Supercell OY and The Walt Disney Company. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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This release was published on openPR.