Mobile Gaming Market Size

Mobile Gaming Market Analysis

The Mobile Gaming Market size is estimated at USD 100.54 billion in 2024, and is expected to reach USD 164.81 billion by 2029, growing at a CAGR of 10.39% during the forecast period (2024-2029).

COVID-19 has impacted how the world does business; however, the gaming industry has been positively affected due to pandemics. During these challenging times, the role of the mobile gaming industry was to help people get some relief. Mobile games have the power to reduce stress and provide some entertainment and social connection, which was much needed, especially during the global quarantine.

• Many changes occurred in the mobile game development department in recent past. Consequently, game brands have spent more on advertising investment to attract more users and corner sufficient market share. However, one effective way to reduce the development process cost is to conduct an early CTR (click-through rate) test. This is especially true if one is in the hyper-casual game sector of the mobile game industry.
• The gaming industry worldwide is expanding, and smartphones play a significant role in this expansion. The development of mobile games has resulted in scalability for the gaming industry. Platforms like Facebook and Instagram have also started to develop innovative mobile games to ensure high product differentiation and benefit from engaging games to enhance their advertisement strategies.
• Smartphone hardware capabilities have rapidly increased during the last couple of years. According to Unity Technologies, the better mobile chipsets provide greater performance with less battery drain, powering higher screen resolutions on display sizes that now average 6 inches. Furthermore, according to Ericsson, 5G allowed for incredible speeds (20 x 4G) and low latency (20 ms to 5 ms). Because of that, the market sees more and more high-production-value AAA-quality mobile games.
• Despite geopolitical tensions, the growing smartphone penetration and increasing gaming options are also increasing the mobile gaming penetration in many parts of the world. For instance, according to White Designers Game Studios, in Iran, with a population of 82 million and a smartphone penetration rate of about 54% (in 2023), there are more than 48 million active mobile gaming players in the country.
• In-game purchase, i.e., the option to purchase additional privileges within the games, is a significant revenue-generating channel for the mobile gaming industry. The flexibility for in-game payment methods also facilitates the growth of mobile gaming revenues worldwide.
• Further, cloud gaming services leverage hyper-scale cloud capabilities, global content delivery networks, and streaming media services to build the next generation of platforms for interactive, immersive, and social entertainment. The proliferation of edge data centers in the country also facilitates the accelerated growth of mobile gaming globally.