Mobile Games Market is expected to grow at a CAGR of around 15.88% over the forecast period (2021-2027).
Mobile Games is a cutting-edge technology that is poised to transform
production techniques in a variety of industries. Mobile gaming has become the driving force behind the rapid
growth of the global video gaming market. In 2020, smartphone games accounted
for almost 50 percent of video gaming revenue worldwide, and as mobile
penetration rates and smartphone usage continue to accelerate on a global
scale, mobile games revenue is on track to surpass the 100 billion-dollar-mark
by 2023. Unsurprisingly, this mobile revolution is also significantly
transforming the gaming landscape in the United States, one of the largest video game markets worldwide.
According to UnivDatos research
report Mobile Games Market”, the market is expected to witness a CAGR growth of around ~15.88% during the forecast period 2021-2027. Global Mobile Games Market is experiencing significant growth due to growing smartphone penetration, development of mobile games,
technology advancement, increasing adoption of trending technologies, and rapid
growth in the population.
Based on Platform: Mobile Games Market is classified into Android, iOS and Others. The Android
segment accounted for the larger market share in 2020 and is projected to witness a significant
growth rate during the forecast period. The COVID-19
pandemic actually had a positive impact on the mobile gaming industry. Moreover, the increasing use of social media platforms,
including Facebook and Instagram, has led to the significant development of a
host of innovative mobile games. The market will also continue to rise with the
strong flexibility of in-game payment methods.
Based on Devices: Mobile Games market is segmented into Smartphones, Tablets, and others. The Smartphones
segment accounted for the larger market share in 2020 and is projected to witness a significant
growth rate during the forecast period.
Mobile gaming has become the driving force behind the rapid growth of
the global video gaming market. In 2020, smartphone games accounted for most of
the video gaming revenue worldwide, and as mobile penetration rates and
smartphone usage continue to accelerate on a global scale. Smartphone is the
most common type in the category of cheap and affordable devices available in
the market. Owing to advantages, Smartphones can be used to take pictures, send
messages, make calls and web surfing. Today, these functionalities are
integrated into one, rectangular – revolutionary technology that keeps getting smarter and smarter every day.
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Based on Age Group: Mobile Games Market is segmented into Less than 24, 25-44 and above than 45. In this segment, less than 24 is projected to register the highest growth rate in the
Mobile Games market. The high growth rate of this segment can be attributed to
rapid adoption of advanced technology by Less than 24 age
group.
On an estimate, all
mobile gaming genres saw revenue growth in 2020. The top three categories were
puzzles, skill and chance, and strategy games, which collectively drove 55% of
the year’s total mobile gaming revenue.
China to Grab Lion’s Share
China currently owns the maximum market share in the Mobile Games market. The Increasing Advancement of Technology & Growing
Smartphone Penetration and Growing Adoption of Trending Technologies are all contributing to market expansion in this region.
Furthermore, the advancement of technology and development of mobile games is likely to propel the market growth of the North America. For instance: According to a Survey, The onset of the
pandemic and the subsequent lockdown boosted
mobile gaming on smartphones during this period. This also resulted in a spike in the amount of time spend on mobile gaming
and the number of apps they experimented with. Among the committed gamers, 40
per cent spent more time on gaming apps, while 38 per cent of them increased
the variety of the games they played.
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According to UnivDatos, the key players with a considerable market share in the Mobile Games Market are includes Activision Blizzard, Tencent, Sony, Microsoft, Nintendo, Apple, Electronic Arts, Google,
Niantic, Bandai Namco, etc.
In June 2021, Electronic Arts made what seemed like a peculiar
announcement. It revealed one of its biggest-ever purchases, and its third
major acquisition in less than seven months. EA's acquisition of Playdemic and Glu Mobile signals how aggressively the game publisher wants to
cement its position in sports and expand into the mobile gaming market.
Mobile Games Market provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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