Mobile Gaming Market to Reach $269.8 Billion by 2032 at 11.7% CAGR: Allied Market Research
NEW CASTLE, Delaware, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Mobile Gaming Market by Device type (Smartphone and Tablet), Genre (Action, Adventure, Puzzle, Simulation, Role Playing and Others), and Platform (Google Play and Play Store): Global Opportunity Analysis and Industry Forecast, 2022–2032”
According to the report, the global mobile gaming industry generated $90.6 billion in 2022 and is anticipated to generate $269.8 billion by 2032, witnessing a CAGR of 11.7% from 2022 to 2032.
Prime determinants of growth
The key factors such as increase in use and availability of mobile devices, and growth in purchasing power of people, are significant factors driving the growth of this market. In addition, lack of user privacy has hampered the market growth. Furthermore, rise of mobile e-sports and advancements in AR and VR technologies are expected to provide opportunities for market growth during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $90.6 Billion |
| Market Size in 2032 | $269.8 Billion |
| CAGR | 11.7% |
| No. of Pages in Report | 381 |
| Segments Covered | Device type, genre, platform and region |
| Drivers | Increase in use and availability of mobile devices Growth in purchasing power of people |
| Opportunities | Rise of mobile e-sports Advancements in augmented reality (AR) and virtual reality (VR) technologies. |
| Restraints | Lack of user privacy |
Covid-19 Scenario
- The mobile gaming market faced a downturn due to the COVID-19 pandemic and the subsequent global lockdowns.
- However, the demand for mobile gaming software was restored as the global situation started ameliorating. This, in turn, presented various growth opportunities for companies operating in the mobile gaming market.
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The smartphone segment to maintain its leadership status throughout the forecast period
On the basis of device type, the smartphone segment held the highest market share in 2022, accounting for nearly three-fourths of the global mobile gaming market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the immense use of smartphones by the majority of the population in the world as compared to tablets. However, the tablet segment is projected to manifest the highest CAGR of 14.2% from 2022 to 2032. This is attributed to the growth in demand and manufacturing of tablets that come with wider screens, better features, and visuals, and provide convenience for users to operate and are portable such as phones to carry anywhere.
The action segment to maintain its leadership status throughout the forecast period
On the basis of genre, the action segment held the highest market share in 2022, accounting for more than one-fourth of the share in the global mobile gaming market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the large use of on-premise mobile gaming software used by companies. This is attributed to the huge popularity of shooting games such as Modern Warfare 2, Splatoon 3, and Valorent. However, the role playing segment is projected to manifest the highest CAGR of 16.5% from 2022 to 2032. This is attributed to the increase in popularity of story mode games and multiple team games in which each character play a different role. Games such as GTA, Pubg, FIFA, and God of War have increased more user engagement and developed more of a social and emotional connection among users.
The Google Play segment to maintain its lead position during the forecast period
On the basis of platform, the google play segment held the largest share in 2022, thus contributing to nearly three-fourths of share in the mobile gaming market. This is attributed to the high use of aptitude/psychometric test in corporate, education, and government sectors to judge the candidates. This is attributed to the large presence of Android phone users globally as compared to iPhones. However, the app store segment is expected to portray the largest CAGR of 14.2 % from 2022 to 2032 and is projected to maintain its lead position during the forecast period. This is attributed to growth in shift toward use of iPhone that come with aesthetic features, marvelous touch, high- resolution cameras, high-resolution video software, and fast iOS processors which make the user stuck to the brand. In addition, the high security provided by I-phone as compared to other phones.
North America to maintain its dominance by 2032
On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global mobile gaming market revenue, in the region. This can be attributed to the large presence of video game and graphics-producing companies such as Electronic Arts, Activision, Nvidia, and Rockstar Games, present in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 14.8% from 2022 to 2032, and is expected to dominate the market during the forecast period, owing to the large number of gaming start-ups growing in the region. In addition, a large amount of gaming tournaments are being increasingly held in Asia-Pacific region.
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Leading Market Players: -
- 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.
- Tencent Holdings Limited.
The report provides a detailed analysis of these key players in the global mobile gaming market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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