Mobile Gaming Market Value To Hit $270 BILLION by 2032
It has been revealed through meticulous research published by the Allied Market Research team that the mobile gaming market’s overall value could hit a staggering high of $270 billion by 2032. It was highlighted that in 2022, the mobile gaming industry generated a whopping $90.6 billion, and that’s set to evolve with a CAGR of 11.7% to reach heights of almost $300 billion ten years later.
Mobile gaming is gaming, guys.
Why Is Mobile Gaming So Valuable?
Most of the value attributed to the mobile gaming industry comes from the fact that it’s just so accessible. More gamers are playing on mobile devices than any other platform around the world, and as technology becomes more advanced, that accessibility is giving way to a grand evolution. These days, we can play blockbuster, AAA titles on our mobile phones and tablets.
Many mobile games are free to play but boast ‘freemium’ or microtransaction-fuelled operating models. With the press of a button, a player can purchase a pack that gives them an in-game boost of credits or something similar. There’s a lot of effort put into the development of top-tier mobile games to make them almost addicting by nature, ensuring that players keep coming back for more.
Elsewhere, a sharp increase in the number of esports games being hosted on mobile platforms is taking place as we speak. In the last few years, some mobile-based games, like PUBG Mobile and Mobile Legends: Bang Bang have pulled in tens of millions of players and broken viewership records across the competitive gaming industry.
In the report published by Allied Market Research, it was suggested that the ongoing development of AR and VR technologies is also a contributor to the overall value of mobile gaming. In the monster 381-page report, it was stressed that mobile gaming alone makes up more than a quarter of the global gaming market’s revenue.
It’s not slowing down any time soon – do you play any interesting mobile games? If you’re hurting for a new one, consider trying State of Survival, a strategy-focused zombie survival game with base-building elements: