Mobile Gaming isn’t just about playing interactive video games! Companies like Microsoft, Nintendo, and Nvidia generate revenue in billions with mobile gaming. Mobile gaming market growth expects to hit USD 335B benchmark by 2030. It is equal to a gain of 13.32% CAGR.
Thanks to internet & broadband connections, mobile games are available across devices and platforms. With such easy accessibility, Mobile Gaming has surpassed gaming consoles or computers [there are multiple Game Development Services providers who can help you to build PUBG, COD or NFC like game]. Now, everybody is using a smartphone and downloading a game! So what’s the coming future of Mobile Gaming, then? Let’s discuss key market insights and trends!
Reviewing Key Market Insights
Fortune Business Insights said the total game market size was USD 203.12B in 2020 and USD 229.16B in 2021. It will go as high as $335B by 2030. The main driving factor behind such a spike is the increasing interest of today’s youth!
Countries like India, China, Japan, and the USA have the highest youth population who prefer mobile gaming over consoles. The youth and many smartphone users also hover through mobile gaming for entertainment. Millions of people worldwide tend to participate in online matches for popular games like League of Legends, Fifa, and Fortnite.
Insights Based On Market Share Pricing
According to Data.AI and IDC, mobile gaming will outgrow the entire gaming industry as it is set to snag almost 61% of the current game engine market share! Here are some interesting findings:
1) Asia Pacific has encountered the highest growth in market share for global consumer spending. China and North America followed the Asia Pacific, making almost half the total mobile gaming spending.
2) Mobile games have preferable genres like adventure, mind games, hunting, fighting, shooting, racing, etc. It is seen that among the top 10 games, almost eight games represent distinct subgenres.
3) Core games like PubG and Fortnight are primarily played in real-time online in multiplayer modes. It interests gamers as they can compete while having fun!
4) Based on the Mobile gaming market growth analysis, the 4x March-Battle Strategy was the most monetizable. Still, Open-World RPGs encountered the highest rise in terms of market share.
5) Nearly 50% of US gamers are female gamers who spend more on games in Baby Boomer or Gen X segments.
Impact of COVID-19
With the start of the LockDown during COVID-19, the demand for online gaming increased exponentially worldwide. As people were stuck at home, mobile game downloads globally reached 230B in 2022 and 255B in 2021. The US accumulated 3.3B USD in 2021, 37% higher than the last year’s profit margin.
Latest Trends Of Mobile Gaming Market Growth
As the gaming market trends change dynamically, let’s review the current trends individually!
Rapid Acceleration of Social Gaming
Mobile games are widespread because of their ease of accessibility and engaging interfaces & features. Streamline gaming online through mobile devices, enabling multiple players to join and play in real time. Players can now share their gaming achievements on Instagram and Facebook. All of these contribute towards making mobile gaming the latest trend!
Cross Platform Gaming
Gaming consoles refrain players from playing various games across different platforms. It’s not the case that mobile gamers can enjoy cross-platform functionalities. The current mobile gaming market share contributes around 48% of the entire video gaming industry.
Gaming Champions Aiding Market Growth
Champions of popular games like PUBG, Call-Duty, League of Legends, Overwatch, etc., are making great money with sponsorship, ad campaigns, and influential capabilities. Many gamers stream gameplay online through Twitch to earn money. In 2020, the global champion of the PUBG mobile game won a USD 2M prize with a single match.
The Inclination of Youth Interests in Mobile Gaming
When the game market size reached USD 202.7B in 2022, the American Association of Advertising published a report stating how mobile gaming has become a passive source of income for the youth. As per the reports, nearly 91% of Gen Z male players preferred playing mobile games in 2019. With young people making good profits through mobile gaming, the unemployment rate among the youth has decreased by 15.37% from last year.
Detailed Projections For 2030
Based on the data analytics reports, let’s analyze the gaming market projections for the future!
Projections Based On Game Type
The most in-demand game types that cover almost 28% of the game market size are Shooter Games, Action Games, Sports, Role-Playing, and Adventure Games. So these gaming categories are expected to dominate other games in 2030!
Preferred Device Type Analysis
As mobile gamers have increased exponentially, mobile gamers will surpass console-based gamers. Based on device types, tablets, and mobile will have more players than PCs and gaming consoles.
Projections Based On End-User Analysis
The male players’ segment is anticipated to lead by 2030, while most are Gen Z. Based on the current global gaming market size, the female segment is also progressing, but males will dominate the gaming market in coming years.
Projections Based On Geographical Regions
Asia Pacific has the highest gaming market size, with $86.96 in USB profits in 2020. Likewise, Europe and the US are expected to improve their profit margins in the coming years. It’s estimated that around 59.87% people of in East Asia Pacific will participate in gaming y 2030.
It’s safe to say that mobile gaming market growth is inevitable at this point! The key players in the global market will be Microsoft, Tencent Holdings, Electronic Arts, Activision Blizzard, and Nintendo Co., Ltd. Mobile gaming will surpass console gaming, with more youth earning money through matches, leagues, and championships. With the market predicted to reach $335B by 2030, this will be profitable for the gaming industry!
1) How much is the mobile gaming revenue globally in 2022?
As per the estimations, the global mobile gaming revenue was $86.9B in 2020. It increased by $103.5B in 2022, almost 19.20% in two years.
2) What’s the future of the gaming app market?
The mobile gaming market growth will reach $335B by 2030 with a cCAGR of 13.32%. Asia Pacific is the largest app gaming market size with a CAGR of 8.94% and will continue its growth in the coming years. Next is the US, Europe, and Latin America, which cover almost 67% of the app gaming market size.
3) Who are the key players in the gaming app market?
The current key players are Nvidia Corp, Valve Corp, Rovio Ent, and PlayJam Ltd. PubG Mobile, Candy Crush, and Honor of Kings are the three games that made the most profits in 2022.
4) Which region is expected to drive the gaming app market?
China, Japan, South Korea, and Indonesia are the four areas in the Asia Pacific that will dominate the gaming app market in the coming years. Following Asia Pacific is the USA and Europe, which will keep improving the profit margins as expected.
5) How can players make money in mobile gaming?
With high mobile gaming market growth, players can profit by winning championship matches and leagues. Most big games like PUBG Mobile and Fortnight reward the winners who rank within the top 10. Players can also profit by video-streaming their gaming sessions and grabbing sponsorship from top dealers.
About Us: Algoworks is a B2B IT firm providing end-to-end product development services. Operating chiefly from its California office, Algoworks is reputed for its partnership with Fortune 500 companies such as Amazon, Dell, Salesforce, and Microsoft. The company’s key IT service offerings include Mobility, Salesforce consulting and development, UI UX Design Consultation, DevOps, and Enterprise Application Integration. For more information, contact us here.