The mobile game market exceeds the estimated value of 214.61 billion dollars
WESTFORD, USA, November 10, 2022 (GLOBE NEWSWIRE) – For the past few years, mobile gaming market His popularity exploded. There are now over 3 billion active mobile players worldwide, and that number is only expected to grow. However, as the market matures, it faces a number of challenges. This includes everything from the constant fight against piracy to the need to monetize better from free 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 having to download them to their devices, making it even easier. We expect more than half of mobile gamers to use cloud gaming services by 2028.
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Another major trend that will shape the future of the mobile gaming market is the emergence of 5G technology. 5G networks offer much faster speeds and lower latency than current 4G networks, which will enable new types of gaming experiences such as real-time multiplayer and augmented reality. Our analyst expects 5G to become widely available in 2025 and believes it will have a transformative impact on the mobile gaming industry.
SkyQuest’s analysis of the mobile gaming market highlights these challenges and provides insights on how to overcome them. The report also discusses the potential of next-generation technologies such as augmented reality and virtual reality to impact the sector.
Increase smartphone penetration and improve income level to stimulate 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, 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 led to a corresponding increase in the number of people playing mobile games mobile. According to a report by SkyQuest on the global mobile game market, there were 1.4 billion active gamers on mobile devices in 2014, and this has increased to 3.13 billion by the end of 2021.
Income levels globally are rising, particularly in emerging markets such as China and India. This means that more people have income available 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 computer games, and has also become the largest market for mobile games.
In addition, mobile players are becoming more and more demanding. They want challenging and engaging games, with good graphics and good gameplay. This has led to increased investment in the mobile gaming industry, as developers strive to create games that meet these expectations. Moreover, social media and internet platforms like Twitch have helped spread mobile games. Streamers and YouTubers often feature new games on their channels, which helps generate interest and excitement around them.
While the mobile gaming market is rapidly growing at a compound annual growth rate of over 11%, there are some challenges that must 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 micro-transactions in a way that does not frustrate players. Another challenge is dealing with the increasing complexity of mobile game development. As games become more complex, they require more time and resources to develop. This can make it difficult for younger developers to compete.
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Top 5 trends in the mobile gaming market
Mobile gaming is on the rise with no signs of slowing down. With more than 3 billion active mobile players globally, the market is growing at an unprecedented rate. Here are some of the most important trends driving this market:
1. Instant Play Games: More and more players are looking for games that can be played instantly without having to download or install anything. This trend is driven by the emergence of mobile devices with powerful processors and high Internet speeds.
2. Social gaming: Social media platforms have become fertile 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 usually free to play and you make money with in-game purchases and ads.
3. Augmented Reality Games: Pokemon Go was a global phenomenon when it was launched in 2016 and demonstrated the potential of AR gaming. This trend will only grow in the coming years as more developers create AR games that take advantage of the growing 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 prizes to grab in the mobile gaming market. This trend will only grow in popularity as phone hardware continues to improve, making it possible to play more demanding games on mobile devices.
5. The advent of free games: In the past, most mobile games were paid apps that had to be purchased in advance. However, free-to-play games are becoming increasingly popular, thanks to their low barrier to entry and flexible payment models. This is bad news for mobile game developers trying to make a living from their games.
Mobile games to generate more than 60% of the revenue from the global market for video games
Mobile gaming is one of the fastest growing segments of the global video game market, driven by the growing adoption of smartphones and tablets, the proliferation of mobile broadband networks, and the development of cutting-edge games for these devices. In 2021, mobile games made up 61% of the total video game market, up from 36% in 2015.
SkyQuest analysis shows that the Asia Pacific region is the largest and fastest growing mobile gaming market, accounting for 65% of global revenue in 2021. The region is expected to maintain its leading position during the forecast period, growing at a compound annual growth rate of 15.9%. North America is the second largest market for mobile games.
Free games are the most popular type of mobile game, accounting for 78% of all revenue in 2021. The most popular free games include Clash of Clans, Candy Crush Saga, and Bubble Witch Saga. Paid games make up the remaining 22% of total revenue, and Minecraft is the most popular paid game on mobile devices. In terms of revenue from in-game purchases, the percentage of free-to-play games is 97% while paid games make up for it.
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Top players in the global mobile game market
- Tencent Holdings Limited (China)
- Nintendo Co., Ltd. (Japan)
- Activision Blizzard Inc. (United State)
- Zynga Inc. (United State)
- GungHo Online Entertainment Inc. (Japan)
- Electronic Arts Inc. (United State)
- Kabam Games Inc. (United State)
- Rovio Entertainment Corporation (Finland)
- Games Inc. (United State)
- NetEase Inc. (China)
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