DUBLIN, Feb. 8, 2024 (GLOBE NEWSWIRE) — The “Mobile Games Market Size and Share Analysis – Growth Trends and Forecasts (2023-2028)” report has been added. ResearchAndMarkets.com Recruitment.
The global mobile gaming industry is on a meteoric rise, with an expected compound annual growth rate (CAGR) of 16.22% from 2023 to 2028. This report highlights key trends and forecasts that indicate the sector’s rapid growth trajectory, with forecasts indicating an increase from USD 141.71. It will reach $1 billion in 2023 and $300.47 billion in 2028.
This extensive study outlines the key factors driving growth within the industry, particularly the impact of the COVID-19 pandemic, which has played a role in accelerating the adoption of mobile gaming across the globe. Amid social restrictions and the search for virtual connections, mobile gaming has emerged not only as a platform for entertainment and stress relief, but also as an important tool for social interaction.
Key market drivers and regional advantages
Industry analysis points to increased advertising investments by gaming brands and the rise of sophisticated mobile hardware as critical to expanding the market size. As smartphones evolve with enhanced chipsets and battery efficiency, gaming experiences are fundamentally improved, appealing to a wider audience and fueling market expansion.
Market trends to watch:
- Changes in mobile game development strategies, especially in the hyper-casual space
- Integration of social media platforms such as Facebook and Instagram into the gaming market
- Advances in 5G technology accelerate high-value mobile gaming experiences
- In-game purchases as a substantial revenue channel supported by a variety of payment options
- Expansion of cloud gaming services due to the spread of data centers worldwide
North American market: mobile gaming pioneer
Within the geographical matrix of the mobile gaming market, North America stands out for its substantial user base and significant contribution to the industry’s revenue. With a well-entrenched gaming culture and rapid adoption of cutting-edge technologies such as 5G, the region boasts both a receptive audience and the infrastructure needed to advance mobile gaming.
Strategic partnerships and competitive moves by leading companies have become a common feature of the region’s dynamic market environment, with recent collaborations aimed at improving gaming experiences and expanding reach into new technological areas. is.
The market is fragmented but vibrant due to the presence of a number of large players such as Tencent Holdings Limited and Activision Blizzard Inc. Recent strategic developments, including acquisitions by companies like Zynga Inc., highlight the competitive edge and innovative drive that pervades the sector.
As mobile gaming continues to redefine entertainment and interaction, this comprehensive report is a testament to the industry’s burgeoning prospects and the versatility driving its growth.
Key insights and predictions:
- Market expected to grow from USD 141.71 billion in 2023 to USD 300.47 billion by 2028 at a CAGR of 16.22%
- Analysis of transformative industry trends and technological advances
- Detailed market share insights with focus on North America’s influential role
Some of the companies mentioned in this report include:
- Tencent Holdings Limited
- Nintendo Co., Ltd
- Activision Blizzard Inc.
- Zynga Co., Ltd.
- GungHo Online Entertainment Co., Ltd. (SoftBank Group)
- Electronic Arts Co., Ltd.
- Kabam Games Co., Ltd.
- Rovio Entertainment Co., Ltd.
- NCSoft Co., Ltd.
- NetEase Co., Ltd.
For more information on this report, please visit https://www.researchandmarkets.com/r/rx3ahf.
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