Mobile Gaming Market Set for 17.1% CAGR Surge, Reaching USD 417.99 Billion by 2031 | SkyQuest Technology

Mobile Gaming Market Size, Share, Growth Analysis, By Monetization Type (In-app Purchases, Paid Apps), By Platform (Android, iOS), By Age Group (Below 24 Years, 24-44 Years), By Region - Industry Forecast 2024-2031
Mobile Gaming Market [https://www.skyquestt.com/report/mobile-gaming-market] size was valued at USD 100.96 billion in 2022 and is poised to grow from USD 118.22 billion in 2023 to USD 417.99 billion by 2031, growing at a CAGR of 17.1% in the forecast period (2024-2031).

Government support has risen, thereby fueling the mobile gaming market. Accelerating the growth of this industry will be the new 5G networks and an increasing appetite for cloud gaming and streaming services. The growing popularity of social media platforms such as Facebook and Instagram has led to many innovative mobile games. The variety of in-game payment alternatives will help drive growth in the mobile gaming business. The rising popularity of e-sports, social gaming, cloud-based gaming, and rogue like gaming is fueling growth.

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Top Players Company Profiles

* Tencent
* Sony
* Activision Blizzard
* Electronic Arts
* NetEase
* Google
* Microsoft
* Nintendo
* Jam City
* Gameloft
* Nexon
* Square Enix
* Supercell
* Ubisoft
* Zynga
* King (a subsidiary of Activision Blizzard)
* Machine Zone
* GungHo Online Entertainment
* Com2uS
* Kabam

Transforming Mobile Gaming Experience: The Impact of Cloud Gaming on Growth and Accessibility

* Cloud gaming is changing the mobile game industry by providing mobile game providers with more growth opportunities. Cloud gaming has been adopted by many technology companies and cloud gamers since it reduces the amount of smartphone memory necessary to launch a game.
* VR provides the user with more life-like interaction with the audio and visual content of the game. To provide further advancement, VR gives players a first-hand view, 360-degree vision, and a real-world setting for the game. Furthermore, smartphone games such as Pokemon Go and Ingress are the most popular AR genre in the app store.

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Segments covered

Monetization Type

In-app Purchases, Paid Apps, Advertising

Platform

Android, iOS, Other Third-party Stores

Age Group

Below 24 Years, 24-44 Years, Above 44 Years

Competitive Dynamics in Mobile Gaming

The mobile gaming market is highly competitive, with various major firms operating in this industry, such as Tencent Holdings Limited, Activision Blizzard, Inc., Zynga, Inc., among others. This fast-growing mobile gaming market has encouraged large firms to come up with innovative technology and new products so that they can be competitive. Mergers, acquisitions, and collaborations allow companies in the global mobile gaming market to broaden their portfolios, update existing games, span genres, and reach new markets.

Strategic Approaches by Major Players in Mobile Gaming

* January 2024: Good Gaming, Inc. announced the launch date for its first-ever mobile game: Galactic Acres. This is a high-tech, lead-off product in a series of top-notch mobile games seamlessly combining artificial intelligence with immersive Web3 capabilities.
* July 2024: Jambo collaborates with Pixelverse in providing web 3 games on mobile phones. This collaboration would make a difference in raising web 3 gaming in emerging regions and increase blockchain use in more than 120 countries across the globe.
* January 2024: Saga and MARBLEX have entered a strategic partnership that will enable MARBLEX to tap into Saga's distinct infrastructure and handle the scale required to serve the global gaming industry.

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Expanding Influence of Mobile Gaming

Mobile gaming revenue growth is expected to outpace the overall game market. Smartphones are transforming the video game industry by shifting users away from large PC or TV screens and towards smaller ones. Mobile gaming has successfully pushed many gamers away from console-based gaming and toward the small-screen-driven gaming experience by allowing them to play their games from anywhere. Large gaming companies are gradually entering the mobile gaming space. Growth in 5G penetration would support the prospects of companies engaged in game streaming. Low-cost data, 4G networks, and faster adoption have been boosting up emerging markets such as India and Brazil for entering the mobile gaming market.

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