Mobile gaming market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Mobile gaming market by region.
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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.
Factors Impacting Mobile Gaming Market
Globally, the video gaming industry is becoming increasingly dynamic, and the smartphone is one of the key factors in this change. Developing mobile games for the gaming industry has resulted in scalability because of how the technology has evolved.
The development of innovative mobile games has also led to the development of social networking platforms, such as Facebook and Instagram, which ensures high product differentiation and allows them to improve their advertising through engaging games.
There are many parts of the world where mobile gaming penetration is increasing, despite the geopolitical tensions and rampant growth of smartphones. Additionally, this technology is also allowing mobile gaming companies to expand in new markets.
The market trends such as location-based games, cloud gaming, blockchain-based games, and mobile games which are capable of utilizing AR/VR technology are also making a huge difference to the demand for mobile games. On the contrary, as compared to VR and AR games which are more favored on mobile devices, mobile-based games are more popular.
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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.
Regional Outlook
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.
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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:
PUBG
Pokémon Go
Candy crush saga King
Tencent
Supercell
Ludo king
Aniplex
Toon blast
Clash of clans
Honor of king
Fornite
Roblox
Clash royal
Marvel contest of champions
Slotomania
Aim of the Report
According to the report, the global mobile gaming market size is delineated based on types, platforms, and subscription options.
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Segmentation based on the Type
Adventure
Casino
Educational
Sports
Strategy
Racing
Action
Others
Segmentation based on the Platform
Android
iOS
Others
Segmentation based on the Subscription
Free
Premium
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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