Mobile Gaming Market Size Worth $269.8 Billion by 2032 With CAGR of 11.7%

Increase in use and availability of mobile devices, and growth in purchasing power of people are significant factors driving the growth of mobile gaming market.

WILMINGTON, DE, UNITED STATES, December 19, 2024 /EINPresswire.com/ -- 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, are 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.

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According to a new report published by Allied Market Research, titled "Mobile Gaming Market," the mobile gaming market was valued at $90.6 billion in 2022 and is projected to reach $269.8 billion by 2032, growing at a CAGR of 11.7% from 2023 to 2032.

Mobile games are video games specifically designed for mobile devices and played online. Over the past five to seven years, mobile gaming has surged in popularity due to the increasing connectivity and evolving technology in smartphones. The earliest known mobile phone game was a Tetris variant on the Hagenuk MT-2000 in 1994. Since then, mobile gaming has evolved significantly from simple Snake games on early Nokia phones to sophisticated 3D and virtual reality experiences.

Mobile games can be downloaded via app stores and mobile operator portals. In some cases, games come preloaded on mobile devices by the cell operator or original equipment manufacturer (OEM). However, due to the limited system resources of mobile devices, the gaming experience is not as immersive as that offered by PCs or gaming consoles, with exceptions like the Sony Ericsson Xperia Play in 2011.

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The mobile gaming market involves multiple stakeholders, including game developers, publishers, platform providers, advertisers, and consumers. It covers the buying, selling, and distribution of mobile games and incorporates various business models such as free-to-play with in-app purchases, premium games, and ad-supported games. The market features a broad range of genres, including action, role-playing, and strategy games. Mobile gaming has a global reach, enabling developers to connect with audiences worldwide.

Technological advancements in mobile devices, such as improved graphics, augmented reality (AR), and virtual reality (VR), are shaping the mobile gaming industry. In 2022, mobile gaming generated nearly half of the $180 billion in revenue from the global gaming sector. Businesses are leveraging games as tools for engagement, not just entertainment. For instance, companies like Samsung Internet and Tata Play are incorporating casual games to boost user engagement. Research by Gamezop indicates that adding games can increase user engagement by up to 40% for non-gaming products.

Leading market players are adopting strategies to enhance competition and improve services. For example, in January 2022, Electronic Arts Inc. significantly upgraded their EA Sports FIFA Mobile game with enhanced gameplay, graphics, and audio. In March 2021, Nintendo Co. Ltd. partnered with Niantic, Inc. to develop mobile apps combining real-world AR technology with Nintendo’s popular characters. These strategic moves are driving growth in the mobile gaming market within the ICT sector.

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Key Findings of the Study:

1. By Device Type: The smartphone segment led the market in 2022 due to the widespread use of smartphones compared to tablets.

2. By Genre: Action games dominated the market in 2022, driven by the popularity of titles like Modern Warfare 2, Splatoon 3, and Valorant.

3. By Platform: Google Play led the market in 2022, reflecting the higher adoption of Android devices globally compared to iPhones, which remain less accessible due to their higher cost.

4. By Region: North America was the leading region in 2022, owing to the presence of major gaming and graphics companies such as Electronic Arts, Activision, and Nvidia.

Major Industry Players: Key companies in the mobile gaming market include 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., and Tencent Holdings Limited.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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