Westford, USA, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Over the past few years, the mobile gaming market has exploded in popularity. There are now more than 3 billion active mobile gamers worldwide, and this number is only expected to grow. However, as the market matures, it faces a number of challenges. These include everything from the ongoing fight against piracy to the need to better monetize free-to-play games.
In terms of future trends, SkyQuest believes that cloud gaming will have a significant impact on the market. Cloud gaming services allow gamers to play games without needing to download them onto their device, making them much more accessible. we expect that over half of all mobile gamers will be using cloud gaming services by 2028.
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Another key trend that will shape the future of mobile gaming market is the rise of 5G technology. 5G networks offer significantly higher speeds and lower latency than current 4G networks, which will enable new types of gameplay experiences such as real-time multiplayer and augmented reality. Our analyst expects 5G to become widely available in 2025 and believes that it will have a transformative effect on the mobile gaming industry.
SkyQuest's analysis of the mobile gaming market highlights these challenges and offers insights on how they can be overcome. The report also discusses the potential for next-generation technologies such as augmented reality and virtual reality to impact the sector.
Increased Smartphone Penetration and Improved Income Level to Spur Market Growth
The mobile gaming market is expected to grow significantly in the next few years. A number of factors are driving this demand, including the increasing popularity of smartphones and tablets, the rising global income levels, and the growth of the Chinese gaming market. Smartphones and tablets have become increasingly popular in recent years, with shipments growing from 296 million units in 2010 to an estimated 1.6 billion units in 2021. This increase in the number of devices has resulted in a corresponding increase in the number of people playing mobile games. According to a report from SkyQuest on global mobile gaming market, there were 1.4 billion active mobile gamers in 2014, and this has increased to 3.13 billion by the end of 2021.
Income levels globally are on the rise, especially in emerging markets such as China and India. This means that more people have disposable income to spend on gaming content. In addition, the Chinese gaming market is expected to grow significantly in the next few years. China is already the largest market for PC games, and it has also become the largest mobile gaming market.
In addition, mobile gamers are becoming more demanding. They want games that are challenging and engaging, with good graphics and gameplay. This has led to an increase in investment in the mobile gaming industry, as developers strive to create games that meet these expectations. Moreover, social media and online platforms such as Twitch have helped to popularize mobile gaming. Streamers and YouTubers often showcase new games on their channels, which helps to generate interest and excitement around them.
Challenges?
While the mobile gaming market is growing rapidly at a CAGR of over 11%, there are some challenges that need to be addressed in order to sustain this growth. One of the biggest challenges is ensuring that players have a positive experience with mobile games. This includes ensuring that games are fair and safe, providing customer support, and managing in-game microtransactions in a way that doesn't frustrate players. Another challenge is dealing with the increasing complexity of mobile game development. As games become more sophisticated, they require more time and resources to develop. This can make it difficult for smaller developers to compete.
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Top 5 Trends in Mobile Gaming Market
Mobile gaming is on the rise with no signs of slowing down. With over 3 billion active mobile gamers globally, the market is growing at an unprecedented rate. Here are some of the top trends driving this market:
1. Instant Play Games: More and more gamers are looking for games that can be played instantly without having to download or install anything. This trend is being driven by the rise of mobile devices with powerful processors and fast Internet speeds.
2. Social Gaming: Social media platforms have become a breeding ground for social gaming in the global mobile gaming market. Games like Candy Crush and Farmville have become household names thanks to their addictive gameplay and social features. These games are typically free-to-play and make money through in-game purchases and advertisements.
3. Augmented Reality Games: Pokemon Go was a global phenomenon when it launched in 2016 and it showed the potential of augmented reality gaming. This trend is only going to grow in the coming years as more developers create AR games that take advantage of the increasing number of AR-enabled devices.
4. Mobile Esports: Competitive mobile gaming is already a big business with tournaments being held all over the world with huge prize pools up for grabs in the mobile gaming market. This trend is only going to grow in popularity as phone hardware continues to improve, making it possible to play more demanding games on mobile devices.
5. The rise of free-to-play games: In the past, most mobile games were paid apps that had to be purchased up front. However, free-to-play games have become increasingly popular, thanks to their low barrier to entry and flexible payment models. This is bad news for mobile game developers who are trying to make a living from their games.
Mobile Gaming to Generate Over 60% Revenue of Global Video Gaming Market
Mobile gaming is one of the fastest-growing segments of the global video game market, driven by the increasing adoption of smartphones and tablets, the proliferation of mobile broadband networks, and the development of sophisticated games for these devices. In 2021, mobile gaming accounted for 61% of the overall video game market, up from 36% in 2015.
SkyQuest's analysis shows that the Asia-Pacific region is the largest and fastest-growing mobile gaming market, accounting for 65% of global revenues in 2021. The region is expected to maintain its leading position over the forecast period, growing at a CAGR of 15.9%. North America is the second-largest market for mobile gaming.
Free-to-play games are the most popular type of mobile game, accounting for 78% of total gross revenues in 2021. The most popular free-to-play games include Clash of Clans, Candy Crush Saga, and Bubble Witch Saga. Paid games make up the remaining 22% of gross revenues, with Minecraft being the most popular paid game on mobile devices. In terms of revenue generated from in-game purchases, free-to-play games account for 97% while paid games make up.
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Top Players in Global Mobile Gaming Market
- Tencent Holdings Limited (China)
- Nintendo Co. Ltd (Japan)
- Activision Blizzard Inc. (US)
- Zynga Inc. (US)
- GungHo Online Entertainment Inc. (Japan)
- Electronic Arts Inc. (US)
- Kabam Games Inc. (US)
- Rovio Entertainment Corporation (Finland)
- Games Inc. (US)
- NetEase Inc. (China)
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