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| Global Mobile Gaming Market Size |
Mobile gaming has witnessed tremendous growth over the past few years driven by increasing penetration of smartphones globally along with high speed internet connectivity. Mobile gaming offers easy accessibility and convenience of playing games on-the-go for both casual and hardcore gamers. Casual games such as puzzle, card, and word games are increasing in popularity due to their simple design allowing players to play for a few minutes. Meanwhile, hardcore games with immersive gameplay and sophisticated graphics are also attracting a large number of audiences on smartphones.
The global
Mobile Gaming Market is estimated to be valued at US$ 91.08 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The growth of the mobile gaming market is driven by the increasing smartphone
penetration globally over the past few years. Currently, over 6 billion people
own smartphones worldwide and this number is expected to grow further in the
coming years. As more people adopt smartphones, mobile gaming is increasingly
becoming their preferred mode of gaming owing to benefits such as easy
accessibility and convenience of playing games on-the-go. According to industry
estimates, over 75% of the world's gamers play games on their smartphones which
is contributing to the robust growth of the overall mobile gaming market. With
continuing innovation in smartphone technology, the newer generations of
smartphones offer high performance specifications which allow for enhanced
mobile gaming experience through high graphics and virtual reality support.
This is attracting both casual and hardcore gamers and propelling market growth
over the forecast period.
Segment Analysis
The global mobile gaming market is dominated by the casual gaming sub-segment.
Casual gaming comprise games that are easy to play and do not require extensive
time commitment from players. Since mobile gaming is majorly played during
travel, commuting or idle time, games that can be played for a short duration
of time are preferred. Casual gaming games such as puzzles, cards and quizzes
allow players to engage in quick gaming sessions as per their schedule, making
them the leading sub-segment in the mobile gaming market.
Key Takeaways
The Global
Mobile Gaming Market Size is expected to witness high growth over the
forecast period of 2023 to 2030. Regional analysis related content comprises
Asia Pacific dominates the global mobile gaming market currently. Countries
like India, China and Japan house a huge young population that is heavily
engaged in mobile gaming. Ease of access to affordable smartphones along with
inexpensive or free gaming content has boosted the market growth in the region.
Key players operating in the mobile gaming market are IKEA, Crate & Barrel,
Wayfair, Amazon, Target, Walmart, AtHome, Ashley Furniture, Ethan Allen, Home
Depot, Lowe’s, Bob€TMs Discount Furniture, Pier 1 Imports, Made.com. These
companies are focused on developing engaging yet simple games through various
genres to tap the large casual gaming audience. They are also investing in
e-sports and competitive mobile gaming to expand into other segments.
Leveraging advanced technologies such as augmented reality and virtual reality
also provides opportunities for new game launches and increased player
stickiness.
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