Good news for Apple: the global mobile gaming market will grow to US$272 billion by 2030, according to a new report from Research and Markets. The research group says the merit is current worth $98 billion.
Mobile gaming is already bigger than the console and PC gaming markets combined, contributing nearly 57% of the $173 billion global video games revenue in 2020. Research and Markets says the market will grow at a compound annual growth rate (CAGR) of 11% over the next nine years. The research group’s report also notes that:
- Traditional console and PC game publishers like Activision Blizzard and Electronic Arts are increasingly focused on mobile gaming due to its popularity with gamers worldwide and lucrative revenue opportunities. They compete with companies like Tencent, Sea, and Perfect World, which primarily focus on mobile gaming. Social media platforms (e.g., ByteDance) and online advertisers (e.g., AppLovin) are also moving into mobile games publishing.
- 5G networks allow games to be downloaded faster than current 4G networks and aid the development of mobile-based cloud gaming services and augmented reality (AR) games. With the ability to support one million devices within a single square kilometer, 5G will drive more users towards mobile gaming, especially multiplayer titles. This, in turn, will boost the growth of mobile esports.
The accompanying graphic is courtesy of CNET.
