On June 25th, Research & Markets released a new study. The “Mobile Gaming – Thematic Research” report highlights the growth of the mobile gaming industry from 2020 to 2030.
According to the research, the mobile gaming market was worth $98 billion in 2020. Furthermore, the market is expected to grow to $272 billion by 2030, registering a CAGR of 11% during this forecast period.
“Traditional console and PC game publishers like Activision Blizzard and Electronic Arts are increasingly focused on mobile gaming due to its popularity with gamers worldwide and lucrative revenue opportunities. They compete with companies like Tencent, Sea, and Perfect World, which primarily focus on mobile gaming. Social media platforms (e.g., ByteDance) and online advertisers (e.g., AppLovin) are also moving into mobile games publishing,” the report said. “5G networks allow games to be downloaded faster than current 4G networks and aid the development of mobile-based cloud gaming services and augmented reality (AR) games. With the ability to support one million devices within a single square kilometer, 5G will drive more users towards mobile gaming, especially multiplayer titles. This, in turn, will boost the growth of mobile esports.”
Research & Markets said that the mobile gaming market is already bigger than the console and PC gaming markets combined. Mobile gaming made up 57% of global video game revenues in 2020.
(All information was provided by Business Wire)