Digital Gaming Market Huge Gains Projected

The Mobile Gaming Global Market Report 2023 by The Business Research Company, provides mobile gaming market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Mobile Gaming Global Market Report 2023, the The global mobile gaming market size will grow from $118.34 billion in 2022 to $138.63 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the mobile gaming is expected to grow to $267.46 billion in 2027 at a CAGR of 17.9%.

The growing smartphone penetration is expected to drive the growth of the mobile gaming market. Smartphone usage is growing due to various reasons such as growing internet penetration, increasing use of social media, the convenience of communication, affordability of phones with improved features, social status, rising income, dependency on phones, and others. The increasing penetration of smartphones will create a significant demand for mobile gaming as it is extensively used for playing games and spending leisure time.

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The mobile gaming market is segmented:

1) By Device Type: Smartphone, Smartwatch, PDA, Tablet, Other Devices Types

2) By Operating System: Android, iOS, Windows, Other Operating Systems

3) By Genre: Action And Adventure, Arcade, Roleplaying, Sports, Other Genres

4) By Subscription: Free, Premium

Technology advancement is a key trend gaining popularity in the mobile gaming market. The market is witnessing the integration of virtual reality (VR) and augmented reality (AR) technologies in mobile gaming for really immersive gaming experiences. VR is a computer-generated environment with scenes and objects that appear to be real, whereas, AR combines virtual information with the real world. VR allows gamers to escape reality by immersing themselves in a different gaming environment or reality through VR eyewear. AR does not transport from a current location to a different one, instead, amplifies or modifies some aspects of current surroundings in a game. Key players are focusing on offering technologically advanced mobile gaming to strengthen their position in the market. For instance, in April 2022, Meta (formerly Facebook), the American technology company conducted the Meta Quest Gaming presentation for 2022 and unveiled a virtual reality (VR) version of Ghostbusters. Ghostbusters VR will let gamers hunt, blast, and capture ghosts in the Ghostbusters universe, with single and multiplayer game modes available.

The mobile gaming market report table of contents includes: