Mobile gaming refers to playing games on a mobile device like a smartphone or tablet. It involves the distribution and operation of video games played on mobile devices. Some popular mobile games include Candy Crush Saga, World of Tanks Blitz and Clash of Clans. Mobile gaming offers unique advantages like portability, accessibility on the go, and engaging gameplay. The easy availability of high-speed internet connectivity and powerful smartphones have made mobile gaming mainstream.

The global mobile gaming market is estimated to be valued at US$ 91.08 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity
The emergence of augmented reality and virtual reality technologies is estimated to present significant growth opportunities for the mobile gaming market. AR and VR enable truly immersive gaming experiences on mobile devices. Game developers are increasingly focusing on developing AR and VR games which allow unique player interactions not possible with conventional games. The use of technologies like ARKit by Apple and ARCore by Google make AR gaming more accessible on smartphones. As AR/VR hardware capability improves along with faster networks, complex immersive games will become mainstream on mobile platforms, driving the demand for gaming content and significantly boosting revenues for mobile game developers and publishers.

Porter's Analysis
Threat of new entrants: New entrants in the mobile gaming market face high threat due to the presence of established players. There are high investments required for marketing, content production and distribution.
Bargaining power of buyers: Buyers have high bargaining power in the mobile gaming market due to availability of several options. Buyers can easily switch between gaming options based on prices and offers.
Bargaining power of suppliers: There are numerous app developers and content creators in the market, giving low bargaining power to suppliers in the mobile gaming industry.
Threat of new substitutes: Threat of substitutes is high as gamers can easily shift to other platforms like PCs, consoles based on variety and engagement level offered.
Competitive rivalry: The mobile gaming market experiences high competition due to presence of global giants.

SWOT Analysis
Strength: Mobile gaming allows engagement anytime anywhere on mobile devices. Huge audience base with over 2.5 billion gamers.
Weakness: Dependency on app stores and in-app purchases leads to loss of control over monetization. Technological changes require constant upgrades.
Opportunity: Emergence of AR/VR gaming and hyper casual games attracted new audiences. Growth in esports and competitive gaming.
Threats: Stringent regulations over in-app purchases and data privacy. Piracy issues affect game downloads and revenues.

Key Takeaways
The Global Mobile Gaming Market Size is expected to witness high growth driven by increasing investments by major players. The global mobile gaming market is estimated to be valued at US$ 91.08 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.

Rising mobile gamers especially in Asia Pacific region will propel revenues. Growth is estimated higher in countries like India and China characterized by rising internet and smartphone adoption. Presence of leading players and huge audience base makes APAC the fastest growing region. North America and Europe hold significant shares and are anticipated to grow at steady pace during the forecast period backed by growing penetration of 5G networks and smartphone subscriptions.

Key players: Key players operating in the mobile gaming market are Activision Blizzard, Inc., Electronic Arts, Inc., Gameloft SE, Niantic Inc., Glu Mobile, Inc., GungHo Online Entertainment, Inc., Kabam, Rovio Entertainment Corporation, Supercell Oy, The Walt Disney Company, and Zynga, Inc. Major players are focusing on mergers, partnerships, in-app events and tournaments to engage wider audiences and drive monetization.

 

 

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