Mobile Gaming Market To Generate Revenue worth $261,586.3 Million in 2030

The global mobile gaming market is expected to generate $261,586.3 million in revenue by 2030 due to the rising popularity of esports. They are a type of competitive games wherein professional players battle for cash rewards. These sports are identical to conventional sports; however, they are performed exclusively online. They can be single-player or multi-player variants.

Esports, which need skills, cooperation, and planning, are growing in popularity around the world. In turn, esports' increasing popularity is strengthening the global mobile gaming market.

Counter-Strike, Call of Duty, PUBG, DOTA 2, and League of Legends are some of the most-popular mobile esports around the world. Every year, a number of tournaments are held that attract a large number of gamers from all around the world, such as the ESL Pro League, and DreamHack.

The market has also benefited from COVID-19 as people were stuck inside their residences due to the lockdown measures implemented by governments. As a result, people had excessive free time, much of which they spent on mobile phones, which, in turn, resulted in an increase in the demand for various media of entertainment.

Thus, the demand for mobile games soared in 2020, resulting in a massive increase in downloads. For instance, Paytm First Games witnessed over 75,000 new users joining the platform every day during the lockdown in 2020.

Google Play Store To Witness Highest Number of Downloads till 2030

Android is expected to witness the highest CAGR, of more than 12%, during 2021–2030. This will be due to the emergence of advanced technologies in emerging economies, which has resulted in an expansion in the pool of smartphone users.

Most mobile game makers choose the freemium business model, since it has infinite possibilities, and these games may be downloaded for free. This enables users to test a game before choosing whether or not to spend their money or time on it, thus leading to increased revenue.

The demand for mobile games by people aged 24–44 years is expected to witness significant growth, at a CAGR of more than 12%, during 2021–2030. The vast population of people between the ages of 24 and 44, who are tech competent, is responsible for the growth of the market.

APAC is expected to witness the fastest growth, at a CAGR of more than 10%, during 2021–2030. The massive user base in China, as well as the growing usage of smartphones, has contributed to the increase in the popularity of mobile games.

Strategic Developments by Key Players in Market

In order to gain a competitive advantage, market participants have been involved in product launches and acquisitions.

In May 2021, Miracle Games SG launched Farlight 84, a battle royale shooter game, for beta testing.

In September 2021, Stillfront, a gaming studio firm, paid $205 million for Jawaker, a mobile game developer, in order to diversify its game portfolio and increase its footprint in the MENA region.

Some of the major players operating in the global mobile gaming market are Tencent Holdings Limited, Nintendo Co. Ltd., Activision Blizzard Inc., Zynga Inc., GungHo Online Entertainment Inc., Electronic Arts Inc., Kabam Games Inc., Rovio Entertainment Corporation, Games Inc., and NetEase Inc.