A comprehensive overview of the Mobile Games Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Mobile Games Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Mobile Games Market at the regional country levels. Mobile Games Market is expected to grow at a CAGR of ~15.88% between 2021-2027.
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Market Overview
Mobile Games is expected to register a CAGR of 15.88% during the forecast period, 2021 - 2027. The growing smartphone penetration and technology advancement with the increasing adoption of trending technologies for developing games are major factors in developing the mobile gaming industry. In-game purchase, i.e., the option to purchase additional privileges within the games, is a significant revenue-generating channel for the mobile gaming industry. The flexibility for in-game payment methods is also facilitating the growth of mobile gaming revenues worldwide. Smartphone hardware capabilities have rapidly increased during the last couple of years. According to Unity Technologies, the better mobile chipsets provide greater performance with less battery drain, powering higher screen resolutions on display sizes that now average 6 inches.
COVID-19 Impact
The mobile gaming industry saw a dramatic rise during the pandemic-enforced lockdown worldwide. The onset of COVID-19 boosted the public interest in online gaming due to the lockdown mandates worldwide, allowing people more free time to involve in gaming and leisure activities. Besides, social distancing mandates increased the internet user base. Mobile gaming technology is being used to improve engagement, while Cloud computing is going to be one big aspect of it.
5G cloud gaming has emerged as the next big trend in the market. Resultantly, telecom operators across the globe are gearing up to conduct 5G trials, and gaming companies are looking to boost their product line depending on 5G-based applications. Increased uses of various cloud gaming services would allow the mobile gaming market to witness a constant uptick over the next few years. Additionally, increased investments by industry players to foster RD activities would offer significant market opportunities.
For instance: According to a Survey, The onset of the pandemic and the subsequent lockdown boosted mobile gaming in India, with 45 per cent of Indians starting to play games on their 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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Mobile Games Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Platform, the market is primarily bifurcated into:
· Android
· iOS
· Others
By 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.
By Devices, the market is primarily studied into:
· Smartphones
· Tablets
· Others
Based on Devices, the 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.
By Age Group, the market is primarily studied into:
· Less than 24
· 25-44
· Above than 45
Amongst Age Group, the Mobile Games Market is segmented into less than 24, 25-44 and above than 45 age group. 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.
Mobile Games Market Region Segmentation Includes:
· North America
· Europe
· Asia Pacific
· Rest of World
Based on the estimation, China dominated the market in 2020. Asia-Pacific is expected to witness the highest CAGR growth during the forecast period.
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The major players targeting the market includes:
· Activision Blizzard
· Tencent
· Sony
· Microsoft
· Nintendo
· Apple
· Electronic Arts
· Niantic
· Bandai Namco
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Mobile Games Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and advancements in the Mobile Games market?
· Which factors are influencing the Mobile Games market over the forecast period?
· What are the global challenges, threats, and risks in the Mobile Games market?
· Which factors are propelling and restraining the Mobile Games market?
· What are the demanding global regions of the Mobile Games market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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