Mobile Games Market: Current Analysis and Forecast (2021-2027)
Mobile Games Market is expected to grow at a CAGR of around 15.88% over the forecast period (2021-2027). The Mobile Games medical devices market is primarily driven by factors factors such as the growing smartphone penetration, development of mobile games, technology advancement, increasing adoption of trending technologies and rapid growth in the population.
The market size from smartphones and tablets is expected to grow at a noteworthy pace through 2027. This can be mainly attributed to the rising acceptance of these devices across the world. The increasing preference for online gaming and the upsurge in the number of investments by leading gaming companies will pave the way for significant expansion of the regional industry.
Some of the major players operating in the market include: Activision Blizzard, Tencent, Sony, Microsoft, Nintendo, Apple, Electronic Arts, Google, Niantic, Bandai Namco, etc. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.
Insights Presented in the Report
"Amongst Platform, Android segment dominated the market in 2020"
Based on Platform, Mobile Games Market is classified into Android, iOS and Others. The Android segment accounted for the larger market share in 2020 and is projected to witness a significant growth rate during the forecast period. The COVID-19 pandemic actually had a positive impact on the mobile gaming industry. Instead of using the time stuck indoors to clear out closets, many opted to accumulate virtual coins. While it might be less productive, hearing those chings as you make your way through a game definitely sparks joy.
"Amongst Devices, Smartphone segment dominated the market in 2020."
Based on devices, the Mobile Games market is segmented into Smartphones, Tablets, and others. The Smartphones segment accounted for the larger market share in 2020 and is projected to witness a significant growth rate during the forecast period. Mobile gaming has become the driving force behind the rapid growth of the global video gaming market. In 2020, smartphone games accounted for most of the video gaming revenue worldwide, and as mobile penetration rates and smartphone usage continue to accelerate on a global scale. Smartphone is the most common type in the category of cheap and affordable devices available in the market. Owing to advantages, Smartphones can be used to take pictures, send messages, make calls and web surfing.
"Amongst Age Group, Less than 24 witnesses significant CAGR during the Forecast Period."
Amongst Age Group, the Mobile Games Market is segmented into Less than 24, 25-44 and above than 45. In this segment, less than 24 is projected to register the highest growth rate in the Mobile Games market. The high growth rate of this segment can be attributed to rapid adoption of advanced technology by less than 24 age group. On an estimate, all mobile gaming genres saw revenue growth in 2020. The top three categories were puzzles, skill and chance, and strategy games, which collectively drove 55% of the year's total mobile gaming revenue.
"China represents as the largest market."
For a better understanding of the market adoption of Mobile Games, the market is analyzed for the countries such as North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia- Pacific), & Rest of World. China dominated the market in 2020. The increasing Advancement of Technology & Growing Smartphone Penetration and Growing Adoption of Trending Technologies and the expanding popularity of Gaming all contribute to the China region's big proportion. The China is also home to the great majority of worldwide players, making it a hotbed of innovation in the Mobile Games business.
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The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
The study comprehensively covers the market across different segments
Deep dive regional & country-level analysis of the industry
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