The global mobile gaming market is expected to experience significant growth, with a projected value of US$165.88 billion in 2027. This growth is predicted to occur at a compound annual growth rate (CAGR) of 9.40% for the period 2023-2027.
This prediction is concluded in the “Global Mobile Gaming Market (by Operating System, Device & Region): Insights & Forecast with Potential Impact of COVID-19 (2023-2027)” by ResearchAndMarkets.com.
Smartphones are driving the expansion of the gaming industry worldwide, with mobile games offering scalability to the market. Social media platforms are creating innovative mobile games to differentiate their products and leverage engaging games for advertising, which is a key factor contributing to the growth of the global mobile gaming market.
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However, the market faces challenges such as developing optimal monetization policies for mobile games and overcoming issues in game development. Notable trends that may impact the market include increased spending on mobile gaming advertising, the growth of cloud gaming, the integration of augmented reality/virtual reality (AR/VR) in mobile games, and the use of free-to-play pricing models.
China is the fastest-growing regional market due to the presence of major game vendors launching new games annually. Other key regions such as the U.S. and Japan are also adopting innovative strategies to build a strong consumer base in the mobile gaming market, contributing to the overall growth of the global market.
Meanwhile, according to The Business Research Company, the size of the global mobile gaming industry increased by $138.63 billion in 2023 at a compound annual growth rate (CAGR) of 17.1% from $118.34 billion in 2022. At least temporarily, the Russia-Ukraine conflict hampered the prospects of the world’s economy recovering from the COVID-19 pandemic. In this study, the market for mobile gaming will reach $267.46 billion in 2027 at a CAGR of 17.9%.
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