New York , United States – In 2020, the global market size for mobile gaming was worth more than 60 billion USD, and during the forecast period, 2021-2027, the market is expected to grow at a CAGR of approximately 14%.
The penetration of smartphones and the development of mobile game technologies were major factors in bringing about the development of the mobile gaming industry due to the increasing penetration of smartphones and the advancement of technology.
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Factors Impacting Mobile Gaming Market
Impact of Covid-19
Due to the outbreak of COVID-19 that caused the demand for mobile gaming to increase rapidly due to the implementation of lockdown regulations and work from home policies around the world, the demand for mobile gaming increased tenfold. The spread of COVID-19 has also led to an increase in online gaming, with respondents spending more time gaming with other humans over the internet. In an article published by the Hollywood Reporter, it is estimated that approximately 29% of the US gamers have been playing more with their friends online since the COVID-19 pandemic was announced. Almost 17% of respondents in the UK also responded that they played more online than offline, compared with 12% of respondents in France.
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Several geographical segments have been identified in the global mobile gaming market, such as Asia Pacific, South America, Europe, North America, and the Middle East, and Africa. Among the major regions in the mobile gaming market, Asia Pacific has the largest share, followed by Europe and North America. It has also been noted that the decrease in the cost of internet data packages facilitates the growth of online mobile games, especially in emerging markets. As the majority of companies in the region are producing innovative formats for mobile gaming, businesses in the Asia Pacific are emerging as one of the most important contributors to the growth of the mobile gaming industry globally. Video game revenue from mobile devices accounted for 55-60% in China and 35-40% in the US in 2019. Additionally, it is predicted that during the forecast period between 2015 and 2022, Asia Pacific will dominate the global mobile gaming market in terms of revenue. Moreover, North America is expected to project the highest CAGR in the global market over the forecast period.
Key Global Mobile Gaming Market Competitors
A high number of small players conduct their activities in multiple countries across the globe, leading to a highly fragmented market for mobile gaming. In today’s global market, the following companies are operating in the mobile gaming sector:
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Aim of the Report
According to the report, the global mobile gaming market size is delineated based on types, platforms, and subscription options.
Segmentation based on the Type
Segmentation based on the Platform
Segmentation based on the Subscription
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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