Mobile Gaming Market Report 2023-2028

Mobile Gaming Market Report 2023-2028

Executive Summary

The Global Gaming industry that is also known as electronic gaming is expanding year on year with growing internet penetration, cloud gaming technologies, spreading popularity of gaming in emerging economies, multi-player engagement and many other factors are contributing in the global gaming market. China being the most competitive country in the gaming business, the Asia-Pacific gaming industry is growing by double digit year on year. The video game market in China is the largest in the world. However North America is undoubtedly the market player and expected to hold the position during the forecasted period.

The mobile game industry has experienced significant growth over the past few years, with a CAGR of 12% from 2018 to 2022. Despite a slight decline in 2022 due to the reopening of workplaces and schools, the industry's future looks promising. Mobile gaming has become a significant contributor to many economies globally, and its popularity continues to grow as more people adopt mobile devices.

The rise of mobile gaming can be attributed to several factors, including the increasing availability of smartphones, the rise of mobile internet, and the development of more sophisticated and engaging mobile games. Mobile games have become an essential part of people's daily lives, and they are used not only for entertainment but also for education, social interaction, and even health monitoring.

Regional Contribution

The Asia Pacific region is the largest market for mobile gaming, accounting for the majority of global revenue in the industry. This can be attributed to the high demand for mobile gaming in key economies such as China, India, and Southeast Asian countries, where there is a large and growing population of mobile gamers.

The US, is the second largest market in the global mobile gaming market with the presence of numerous players like Apple Inc, Google LLC and Microsoft Corporation etc.

Segmentation by Source

Global mobile market revenue by source is divided into Apple app store (IoS), Google play store, Third-party store.

Segmentation by Gender

Global mobile gaming market revenue by Gender is dominated by Male segment however Women account for half of all hyper-casual gamers, making up a major portion of the gaming industry.

Popularity of eSports

Despite the Chinese government's recent crackdown on online gaming and efforts to limit young people's access to games, China is still the largest e-sports industry in the world. Japan and South Korea are also significant markets for e-sports income in Asia. In Japan, the e-sports market has been growing rapidly in recent years, driven in part by the popularity of mobile games.

The United States has the second-largest eSport market in the world, with over 160 million gamers. This indicates that the United States is home to more than half of the world's eSports players.

Impact of COVID-19 over Online Gaming Industry

The gaming industry has largely escaped the pandemic's damage, and user engagement has grown considerably throughout this time. The gaming business faced a number of difficulties and experienced an extraordinary rise in consumer demand during the COVID-19 pandemic.

• In contrast to a 12% increase in digital video traffic and a 20% increase in web traffic, the American telecommunications giant Verizon recorded a 75% spike in online gaming traffic during peak hours.
• WinZo Games (India), saw a 30% increase in traffic and a threefold increase in user engagement. Paytm First Games, an Indian mobile-based online gaming company, claimed a 75,000 user increase almost a 200% increase in its user base during the pandemic.
• The expected release of new games and next-generation consoles was cited as a contributing factor to people's heightened interest in online gaming, in addition to the COVID-19 lockdowns.
• Sales for the two Asian gaming behemoths Nintendo (Japan) and Tencent (China) surged, with Tencent's online game revenue increasing by 31% year over year.

The "Mobile Gaming Market Report 2023-2028: Global Trends and Forecast by Source, Gamers Population, Spending on Gaming, and Regional break-up" is an extensive report published by Makreo Research. The report assesses the market for online gaming with a focus on mobile gaming, taking into account user statistics, the state of the world economy at the time, current market trends and changes, and other elements. The performance of the online gambling sector and an overview of the eSports market by the main geographical regions are also highlighted in the report. The future forecast section aids in assessing the industry's anticipated adjustments as well as its main driving forces.

The global market for mobile gaming is examined in the research, taking into account various aspects of user statistics including, the average spending on mobile gaming, number of mobile gamers, type of games and games with highest penetration rate. Market revenue has been analysed for major contributing countries in the gaming sector.

Key Questions Answered

1. What is the potential of online gaming sector in the global market?

2. What is the revenue growth of global mobile gaming market and how future is shaping up?

3. What are the key factors contributing the industry growth?

4. What are the major mobile gaming markets worldwide and what is their present positioning in the market?

5. How gaming users are utilizing expenditure on gaming?

6. What are the leading mobile games and at what rate active gamers population is rising worldwide?

7. How eSports market is growing globally?

8. How online gambling market has performed in selected geographies?