According to a new market research report published by Credence Research “Mobile Gaming Market(Genre – Puzzle, Casual, Arcade, Simulation, Adventure, Strategy, Card, Board, Role Playing, Action and Sports; Operating System – Android, iOS and Others; Game Type – Online and Offline) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the mobile gaming market was valued at US$ 48.65 Bn in 2017 and will be growing at a CAGR of 19.6% during the forecast period from 2018 to 2026.
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The mobile gaming market was valued at US$ 48.65 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 19.6% during the forecast period from 2018 to 2026. In recent years, the mobile gaming industry has witnessed an unprecedented growth. This growth is mostly the result of an ever increasing base of smartphone users. Moreover, increasing number of consumers who are getting into mobile gaming and opting for subscriptions and making in-app purchases is another prominent factor driving the growth of the mobile gaming market. Growing consumer interest in mobile multiplayer gaming expected to further propel the demand for mobile games in coming years.
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The developers of mobile games spend heavily on research and development activities. These activities are directed towards addressing the evolving preferences of the consumers in the market for mobile games. Moreover, mobile game companies in order to provide better customer engagement and consolidation of revenues from mobile game development are creating new business models.
There also exists intense competition among the leading mobile game app development companies. These companies in order to outpace each other are offering rich features and good quality game content. In coming years, Augmented Reality (AR) games expected to remain another area of focus. Other trends being observed in the mobile gaming market includes rise of social gaming and eSports, cloud games, virtual reality and multi-player games among others.
In 2017, Asia Pacific stood as the largest market for mobile gaming market and the region expected to continue its dominance during the forecast period. China is the largest market for mobile games and the country occupies a significant share of the global revenue.
The fact that China has the largest number of smartphone users in the world further supports the aforementioned sentence. Battle royale and esports would continue to represent the strongest areas of growth during the forecast period. India would emerge as another important market for the mobile gaming app companies in coming years. The country in recent years has witnessed a high proliferation of smartphones, a factor aiding the mobile gaming market.
Key players profiled in the report include Supercell, King, Gameloft SA, GungHo Online Entertainment, Tencent Holdings Limited, Activision, Nintendo, Ubisoft, Zynga, Netmarble Games, Kabam, EA Mobile and Com2uS among others.
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