Mobile gaming market reached $90 Billion in 2022. (Image Credit: Adobe Stock)
As per a recent report, mobile gaming is going to become a $270 Billion value industry by 2032, which is 97% higher than the PC gaming market. The mobile gaming market is booming, attracting a lot of popular companies.
According to a report published by Allied Market Research, the mobile gaming market is projected to reach $269.8 Billion by the year 2032. The mobile gaming market reached $90.6 Billion in 2022. If the market grows at this speed with a compound annual growth rate of 11.7% from 2023 to 2032, then it will reach $270 Billion by 2032.
How has the mobile gaming market changed?
The mobile gaming market wasn’t as big as PC gaming or console until 2010, the mobile gaming market started to grow along with PC and console from 2010. Now only mobile gaming holds around 50% market share in the video game industry, which is unbelievable.
There are several factors behind the growth of mobile gaming. The first factor would be mobile, mobile phones are very affordable and cheaper than a gaming PC or laptop. They are also easy to use, you can play games in any place at any time. You can’t do that with a PC or console, as you would need a monitor and a TV to be able to play games.
Apps like Google Play and Apple Store also play a big role in the mobile gaming market as every person with a phone can download games easily without paying a penny.
Maximum games in the Apple Store and Google Play are free to play whereas some games are paid. The mobile gaming industry earns money from in-game microtransactions. They also earn money by showing ads.
What will be the future of mobile gaming?
Sony and Rockstar to port games for mobile devices. (Image Credit: Rockstar and PlayStation)
The future of mobile gaming is looking very bright. Big gaming companies like Sony and Rockstar are now also focusing on mobile games. Mobile gaming is going to dominate the gaming industry in the future due to new-gen technologies being available for mobile.Â
Sony and Rockstar are the biggest gaming companies. Sony specifically created a team for mobile gaming. The team would solely focus on making new mobile games and also on porting popular games from PlayStation to mobile.
Rockstar’s parent company Take-Two Interactive bought Zynga, who produce games for mobile. According to their plans, they want to port their biggest game series like GTA and RDR to mobile. Zynga would also create new games for Rockstar.
