New York, US, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Mobile Gaming Market information by Type, by Platform, by Device and Region – forecast to 2028” market size to reach USD 235.10 billion, growing at a compound annual growth rate of 54% by 2028.
Market Scope:
The mobile gaming market is constantly growing, witnessing vast demand. Government support for the online gaming industry and reducing federal restrictions allow the mobile gaming market to garner significant revenues. With more legal breakthroughs expected in the future, the market is expected to garner massive momentum in the next few years.
Dominant Key Players on Mobile Gaming Market Covered are:
- Apple Inc. (US)
- Google Inc. (US)
- Activision Blizzard Inc. (US)
- Tencent Holdings Ltd. (China)
- Sony Corporation (Japan)
- Electronic Arts Inc. (US)
- Ubisoft Entertainment SA (France)
- Nintendo Co. Ltd. (Japan)
- Gameloft SE (France)
- MocoSpace (US)
- Glu Mobile Inc. (US)
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Market USP Exclusively Encompassed:
Market Drivers
Besides, growing advances in gaming and networking technologies are expected to foster the market size. Rapid improvements in mobile apps substantiate the market shares, registering a significant growth in revenues and user screen time. The rising popularity of competitive games and increasing gamers drive the market. Moreover, the increasing smartphone users and vast technological developments are major trends accelerating the market demand.
The 5G technology has brought a new beginning in the connectivity landscape and transformed the gaming industry completely. Countries worldwide are making heavy investments in 5G technology development and implementations to gain broader microeconomic advantages. Additionally, the extensive uptake of mobile games in the education and media & advertisement sectors would allow the market to perceive high growth in the years to come.
The rising uptake of cloud gaming and increasing numbers of gaming zones influence the market value. The wide range of commercial and personal uses impacts the mobile gaming market share. On the other hand, high investment requirements for developing and implementing mobile games impede the market growth. Also, bans on specific gaming sites in some countries can pose challenges to the growth of the mobile gaming market.
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Segmentation of Market Covered in the Research:
The mobile gaming market is segmented into device types, operating system types, enterprise types, end-users, and regions. The device type segment is bifurcated into smartphones and tablets. The operating system type segment is sub-segmented into Android, iOS, and others.
The enterprise type segment is sub-segmented into large organizations, SMEs, and startups. The end-user segment is sub-segmented into retail, media & entertainment, travel, healthcare, and others. By regions, the market is sub-bifurcated into the Americas, Asia Pacific, MEA, Europe, and rest-of-the-world.
Regional Analysis
North America dominates the global mobile gaming market. The presence of a large number of mobile game developers, such as Activision Blizzard, Electronic Arts, and Glu Mobile Inc., drives regional market growth. Also, various online gaming tournaments in the region create significant demand in the market.
Besides, increased demand for mobile gaming and improved Internet connectivity with high reliability substantiate the market size in this region. The gaming community is a robustly growing entertainment segment in the US, which has boosted the market value in the country and region.
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COVID-19 Impact on the Global Mobile Gaming Market
The mobile gaming industry saw a dramatic rise during the pandemic-enforced lockdown worldwide. The onset of COVID-19 boosted the public interest in online gaming due to the lockdown mandates worldwide, allowing people more free time to involve in gaming and leisure activities. Besides, social distancing mandates increased the internet user base. Mobile gaming technology is being used to improve engagement, while Cloud computing is going to be one big aspect of it.
5G cloud gaming has emerged as the next big trend in the market. Resultantly, telecom operators across the globe are gearing up to conduct 5G trials, and gaming companies are looking to boost their product line depending on 5G-based applications. Increased uses of various cloud gaming services would allow the mobile gaming market to witness a constant uptick over the next few years. Additionally, increased investments by industry players to foster R&D activities would offer significant market opportunities.
Competitive Analysis:
The mobile gaming market is likely to witness several strategic approaches, such as mergers & acquisitions, collaboration, expansion, and product launches. Key industry players make substantial strategic investments in research and development activities and foster their expansion plans.
For instance, recently, on Dec.02, 2021, Sneaky Panda (Israel), a leading gaming company, announced raising US$6 MN to launch a new mobile gaming genre. The game developer would introduce the Luck-Puzzler genre, emphasizing skill and strategy than current mobile games in the market.
The new game, expected next year, would suit teens and adults, requiring the players to collect items and strategic plays to create surprising synergies. The company is diligently working on fulfilling its mission to release its first title and launch an entirely new mobile gaming genre.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
