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Mobile Gaming Market estimated to grow at a CAGR of 11.7% and to generate $269.8 billion by 2032
Mobile Gaming Market
The mobile gaming market size was valued at $90.6 billion in 2022, and is estimated to reach $269.8 billion by 2032, growing at a CAGR of 11.7% from 2023 to 2032.
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Mobile games are essentially online video games that are made especially for mobile devices and may be played online. Over the past five-seven years, mobile gaming has become increasingly popular due to the increased connectivity provided by new technology found in smartphones that are constantly evolving.
The oldest recorded game on a mobile phone was a Tetris variant on the Hagenuk MT-2000 device from 1994. Mobile gaming has certainly come a long way from simple Snake games on previous basic Nokia devices to more intriguing 3D and virtual reality games. Mobile game downloads are available through app shops and mobile operator portals. Additionally, it's common to find that when a portable device is purchased, the cell operator or the original equipment manufacturer (OEM) preloads it with games. However, smartphones and mobile devices have constrained system resources, therefore it is critical to realize that consumers cannot enjoy the same level of gaming immersion as they could on specialized PCs and gaming consoles. It was limited to the Sony Ericsson Xperia Play as of 2011.
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There are various key elements associated with mobile gaming market. Mobile gaming involves interaction between game developers, publishers, platform providers, advertisers and consumers. The market encompasses buying, selling and distribution of mobile games. Furthermore, the market is adopting various strategies such as free to play with in-app purchases, premium games, and advertising supporting models. In addition, the market is characterized by diverse range of game genres such as action, role playing, strategy and others. Moreover, the mobile gaming market is not confined to a specific region; it has a global reach. Games developed for mobile devices are accessible to users around the world, contributing to the industry's widespread influence. In addition, the market is witnessing technological advancements in mobile devices such as graphic capabilities, augmented reality and virtual reality. These advancements are shaping mobile gaming industry. Nearly half of the enormous $180 billion in revenue made by the global gaming sector in 2022 came from mobile gaming alone. Businesses are taking advantage of the fact that games are now engagement tools rather than just for pleasure. Non-gaming businesses are embracing the increase in engagement that gaming brings, from Samsung Internet incorporating casual games to Tata Play creating a dedicated gaming department. According to research by Gamezop, the platform that powers games on these two brands as well as 7000 others, adding games can boost engagement by up to 40%. This highlights how casual gaming can increase user engagement with non-gaming products.
Major market players adopted different strategies to increase the competition and offer enhanced services to their customers in the mobile gaming market. In January 2022, Electronic Arts Inc. upgraded their EA sports FIFA mobile game. FIFA Mobile's most recent significant upgrade offers a complete redesign along with several improvements to gameplay, graphics, and audio, making it the best gaming experience available to players and football enthusiasts worldwide. Furthermore, in March 2021, Nintendo Co. Ltd. partnered with AR technology company Niantic, Inc. to jointly develop mobile apps that combine Niantic's real-world AR technology with Nintendo's beloved characters. Therefore, such strategies are fostering the growth of mobile gaming market share in the ICT sector.
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By device type, the smartphone segment dominated the mobile gaming market forecast in 2022. This is attributed to the immense use of smart phones by major population in the world as compared to tablets.
Based on genre, the action games dominated the mobile gaming market analysis in 2022. This is attributed to the huge popularity of shooting games such as Modern Warfare 2, Splatoon 3 and Valorent.
Based on platform, Google play dominated the mobile gaming industry in 2022. This is attributed to the larger use of android phones by the large population globally as compared to I-phones. Every segment of consumer cannot afford I-Phone due to its expensive price.
Based on the region, North America dominated the global mobile gaming industry in 2022. This can be attributed to the large number of game and graphic producing companies such as Electronic Arts, Activision, and Nvidia present in the region.
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