Press release
Mobile Gaming Market is Growing at 11.7% CAGR; to Hit USD 269.8 Billion by 2032 | Growth & Share Analysis
Mobile Gaming Market
Mobile games are essentially online video games that are made especially for mobile devices and may be played online. Over the past five to seven years, mobile gaming has become increasingly popular due to the increased connectivity provided by new technology found in smartphones that are constantly evolving.
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The key factors such as an increase in use and availability of mobile devices, and growth in purchasing power of people, are significant factors driving the growth of this market. In addition, lack of user privacy has hampered the market growth. Furthermore, rise of mobile e-sports and advancements in AR and VR technologies are expected to provide opportunities for market growth during the forecast period.
Covid-19 Scenario
1. The mobile gaming market faced a downturn due to the COVID-19 pandemic and the subsequent global lockdowns.
2. However, the demand for mobile gaming software was restored as the global situation started to improve. This, in turn, presented various growth opportunities for companies operating in the mobile gaming market.
Based on device type, the smartphone segment held the highest market share in 2022, accounting for nearly three-fourths of the global mobile gaming market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the immense use of smartphones by the majority of the population in the world as compared to tablets.
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However, the tablet segment is projected to manifest the highest CAGR of 14.2% from 2022 to 2032. This is attributed to the growth in demand and manufacturing of tablets that come with wider screens, better features, and visuals, and provide convenience for users to operate and are portable such as phones to carry anywhere.
Based on genre, the action segment held the highest market share in 2022, accounting for more than one-fourth of the share in the global mobile gaming market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the large use of on-premise mobile gaming software used by companies. This is attributed to the huge popularity of shooting games such as Modern Warfare 2, Splatoon 3, and Valorent.
However, the role playing segment is projected to manifest the highest CAGR of 16.5% from 2022 to 2032. This is attributed to the increase in popularity of story mode games and multiple team games in which each character play a different role. Games such as GTA, Pubg, FIFA, and God of War have increased more user engagement and developed more of a social and emotional connection among users.
Based on platform, the Google Play segment held the largest share in 2022, thus contributing to nearly three-fourths of the share in the mobile gaming market. This is attributed to the high use of aptitude/psychometric test in the corporate, education, and government sectors to judge the candidates. This is attributed to the large presence of Android phone users globally as compared to iPhones.
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However, the app store segment is expected to portray the largest CAGR of 14.2 % from 2022 to 2032 and is projected to maintain its lead position during the forecast period. This is attributed to growth in shift toward use of iPhone that come with aesthetic features, marvelous touch, high- resolution cameras, high-resolution video software, and fast iOS processors which make the user stuck to the brand. In addition, the high security provided by I-phone as compared to other phones.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global mobile gaming market revenue, in the region. This can be attributed to the large presence of video game and graphics-producing companies such as Electronic Arts, Activision, Nvidia, and Rockstar Games, present in the region.
However, the Asia-Pacific region is expected to witness the fastest CAGR of 14.8% from 2022 to 2032, and is expected to dominate the market during the forecast period, owing to the large number of gaming start-ups growing in the region. In addition, a large number of gaming tournaments are being increasingly held in the Asia-Pacific region.
Leading Market Players: -
Google Inc.
Apple Inc.
Electronic Arts Inc.
Ubisoft Entertainment SA
Gameloft SE
Kabam Games Inc.
Rovio Entertainment Oyj
Nintendo Co. Ltd.
Take-Two Interactive Software Inc.
Tencent Holdings Limited
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The report provides a detailed analysis of these key players in the global mobile gaming market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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