Gaming — The World Going Mobile
Mobile Gaming Now Accounts For Over 50% of Gaming Market Revenue
The raging pandemic that is COVID-19 has caused widespread distress to most industries globally, leaving the world holding their forts in hopes to weather the storm.
Due to game delays and supply constraints, the PC and console gaming market has seen a noticable decline, with a near 1% decrease in YoY global revenue.
On the other hand, mobile gaming has seen a surge in profitability and popularity amidst the crisis, due to increased number of downloads and playtime, with global revenue of the mobile gaming segment increasing 7.3% YoY. This makes mobile gaming the single biggest segment in the market, accounting for over 52% of the global gaming revenue.
The mobile gaming market was valued at US$95.448 billion in 2019 and is expected to grow at a CAGR of 23.59 % over 2021–26 to reach a market size of US$420.386 billion by 2026.
Mobile Gaming Drivers
- Smartphone Penetration
With the continual growth of smartphone and internet penetration, mobile games become increasingly accessible to people worldwide, especially in emerging economies.
Need we say more. FREE is forever everyone’s favourite “F” word. The most popular pricing model for mobile games is Free-to-Play, which makes it every more attractive and accessible to many.
- Entry of Major Developers
The global success of PUBG Mobile and Call of Duty: Mobile — have accelerated PC and console developers’ willingness to invest in mobile. These franchises were created outside of China, but Tencent brought them successfully to mobile globally.
Another success story includes Chinese-developed complex and immersive game Mobile Legends: Bang Bang, which have found massive international audiences, proving core mobile gamers’ appetite for Hi-Fi mobile games. Following suit, more PC/console-focused AAA developers, such as Riot, and Electronic Arts, are making their most popular IPs available on mobile.
With gaming increasingly more accessible on the palm of our hands, we are excited to see more high quality games and innovative trends in the market. Stay tuned with us for more updates!