According to the report, the global mobile gaming market generated $90.6 billion in 2022 and is anticipated to generate $269.8 billion by 2032, witnessing a CAGR of 11.7% from 2022 to 2032.
The key factors such as 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
- The mobile gaming market faced a downturn due to the COVID-19 pandemic and the subsequent global lockdowns.
- However, the demand for mobile gaming software was restored as the global situation started ameliorating. This, in turn, presented various growth opportunities for companies operating in the mobile gaming market.
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The increasing availability and affordability of smartphones is leading to a surge in smartphone adoption globally, as more people are gaining access to these devices, the potential user base for mobile games is expanding. Furthermore, advances in mobile technology, including powerful processors, high-quality displays, and improved graphics capabilities, is allowing developers to create more sophisticated and visually appealing games.
This is significantly enhancing the overall gaming experience on mobile devices. Moreover, the rollout of high-speed mobile data networks, including 4G and 5G, is improving connectivity and reduced latency, enabling smoother online multiplayer experiences and facilitating the streaming of high-quality content. All these factors are driving mobile gaming market growth.
Mobile games are essentially online video games that are made especially for mobile devices and may be played online. Over the past five-seven years, mobile gaming has become increasingly popular due to the increased connectivity provided by new technology found in smartphones that are constantly evolving.
The oldest recorded game on a mobile phone was a Tetris variant on the Hagenuk MT-2000 device from 1994. Mobile gaming has certainly come a long way from simple Snake games on previous basic Nokia devices to more intriguing 3D and virtual reality games. Mobile game downloads are available through app shops and mobile operator portals.
Additionally, it’s common to find that when a portable device is purchased, the cell operator or the original equipment manufacturer (OEM) preloads it with games. However, smartphones and mobile devices have constrained system resources, therefore it is critical to realize that consumers cannot enjoy the same level of gaming immersion as they could on specialized PCs and gaming consoles. It was limited to the Sony Ericsson Xperia Play as of 2011.
There are various key elements associated with mobile gaming market. Mobile gaming involves interaction between game developers, publishers, platform providers, advertisers and consumers. The market encompasses buying, selling and distribution of mobile games. Furthermore, the market is adopting various strategies such as free to play with in-app purchases, premium games, and advertising-supported models.
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In addition, the market is characterized by diverse range of game genres such as action, role playing, strategy and others. Moreover, the mobile gaming market is not confined to a specific region; it has a global reach. Games developed for mobile devices are accessible to users around the world, contributing to the industry’s widespread influence. In addition, the market is witnessing technological advancements in mobile devices such as graphic capabilities, augmented reality and virtual reality. These advancements are shaping mobile gaming industry.
Nearly half of the enormous $180 billion in revenue made by the global gaming sector in 2022 came from mobile gaming alone. Businesses are taking advantage of the fact that games are now engagement tools rather than just for pleasure.
Non-gaming businesses are embracing the increase in engagement that gaming brings, from Samsung Internet incorporating casual games to Tata Play creating a dedicated gaming department. According to research by Gamezop, the platform that powers games on these two brands as well as 7000 others, adding games can boost engagement by up to 40%. This highlights how casual gaming can increase user engagement with non-gaming products.
Major market players adopted different strategies to increase the competition and offer enhanced services to their customers in the mobile gaming market. In January 2022, Electronic Arts Inc. upgraded their EA sports FIFA mobile game. FIFA Mobile’s most recent significant upgrade offers a complete redesign along with several improvements to gameplay, graphics, and audio, making it the best gaming experience available to players and football enthusiasts worldwide.
Furthermore, in March 2021, Nintendo Co. Ltd. partnered with AR technology company Niantic, Inc. to jointly develop mobile apps that combine Niantic’s real-world AR technology with Nintendo’s beloved characters. Therefore, such strategies are fostering the growth of mobile gaming market share in the ICT sector.
Mobile Gaming Market Segmentation:
On the basis of 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. 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.
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On the basis of 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.
On the basis of platform, the google play segment held the largest share in 2022, thus contributing to nearly three-fourths of share in the mobile gaming market. This is attributed to the high use of aptitude/psychometric test in 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.
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.
On the basis of 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 amount of gaming tournaments are being increasingly held in Asia-Pacific region.
Leading Mobile Gaming 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.
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 mobile gaming market players to showcase the competitive scenario.
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