According to a new market research report published by Credence Research “Mobile Gaming Market (Genre – Puzzle, Casual, Arcade, Simulation, Adventure, Strategy, Card, Board, Role Playing, Action and Sports; Operating System – Android, iOS and Others; Game Type – Online and Offline) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the mobile gaming market was valued at US$ 48.65 Bn in 2017 and will be growing at a CAGR of 19.6% during the forecast period from 2018 to 2026.
The mobile gaming market was valued at US$ 48.65 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 19.6 per cent during the forecast period from 2018 to 2026. In recent years, the mobile gaming industry has seen unprecedented growth. This growth is mostly the result of an ever-increasing base of users of smartphones.
In addition, an increasing number of customers entering mobile gaming and opting for subscriptions and making in-app purchases are another important factor driving the growth of the mobile gaming industry. Growing user interest in mobile multiplayer gaming is expected to further fuel demand for mobile gaming in the coming years.
Mobile game developers invest heavily on research and development activities. Such efforts are aimed at meeting the changing tastes of customers in the mobile games industry. In addition, mobile gaming companies are developing new business models in order to increase customer engagement and maximize revenues from mobile gaming growth.
There is also intense competition amongst leading mobile game app development companies. Many companies offer rich features and good quality game content in order to outpace each other. In the coming years, Augmented Reality (AR) games are expected to remain a further focus area. Many patterns noticed in the mobile gaming industry include the increase of social gaming and eSports, online sports, virtual reality and multi-player games, among others.
Asia Pacific was the largest mobile gaming market in 2017 and the region is expected to remain dominant during the forecast period. China is the largest market for mobile games, and the country has a small share of global sales. The fact that China has the largest number of smartphone users in the world further supports the above-mentioned paragraph. Battle Royale and Esports will continue to represent the fastest growth areas in the forecast period. India will emerge as another major market for mobile gaming app companies in the coming years. The country in recent years has witnessed a high proliferation of smartphones, a factor aiding the mobile gaming market.
Key players profiled in the report include Supercell, King, Gameloft SA, GungHo Online Entertainment, Tencent Holdings Limited, Activision, Nintendo, Ubisoft, Zynga, Netmarble Games, Kabam, EA Mobile and Com2uS among others.