The market for mobile gaming is anticipated to reach US$165.88 billion in 2027, growing at a CAGR of 9.40% from 2023 to 2027.
The market will expand as a result of factors like the expansion of the gaming industry, rising customer spending on mobile games, rising usage of mobile gaming, rising smartphone possession, rising internet penetration rate, and quick urbanization.
However, significant problems with mobile game creation and finding the best revenue strategy for mobile games would pose challenges to the market’s expansion. Increased spending on gaming ads, rising cloud gaming usage, the inclusion of augmented reality/virtual reality (AR/VR) in mobile games, and the adoption of a free-to-play pricing model are just a few noteworthy trends.
The global entertainment market is growing, and smartphones have a big part to play in that growth. The creation of mobile apps has made the gaming business scaleable. In order to guarantee strong product differentiation and gain from entertaining games to improve their advertising strategies, various social media platforms are creating novel games, which are also playing a crucial role in the expansion of the global gaming market.
Due to the existence of big game vendors who release a range of new games each year, China had the fastest-expanding regional market. Additionally, other important areas like the U.S. and Japan are implementing ground-breaking strategies to develop a sizable consumer base in the gaming market, driving the growth of the overall global market.
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