The global mobile games market is worth $119 billion in 2021, expected to reach $338 billion by 2030.
This scale grows at a CAGR of 12.3% during the forecast period (2022 – 2030). North America will hold $80 billion of shares, growing at a CAGR of 12% during the forecast period.
Based on monetization, the in-app segment is most likely to grow at a CAGR of 13.2% and reach $187.98 billion by 2030. According to the report, iOS is expected to generate $171.38 billion at a CAGR of 11.9% by 2030. By region, Asia-Pacific is expected to hold the largest market share with $179 billion at a CAGR of 13%. North America is projected to have a revenue share of $80 billion at a CAGR of 12%.
China is the main contributor to much of the region. Covid has contributed to the expansion of the mobile game industry in the country of billions of people, one of the most populous countries in the Asia-Pacific region. Mobile games have revolutionized the gaming business by providing a consistent level of entertainment through cloud and offline applications.
It is predicted that millions of people will continue to enjoy leisure activities on the go, especially in developing countries like China.
The United States contributes significantly to the North American market share. Smartphone gaming is an important segment of a rapidly expanding industry in the United States, where one of the leading game developers is headquartered.
According to 42Matters, more than 8,797 of the 161,440 game creators on Google Play are American. The mobile game industry is no longer a small sub-sector.
A report by Ericsson and The Radicati Group states that about 80.69% of the global population has a smartphone. This number corresponds to 6.378 billion smartphone users globally. 89.84% of people worldwide, or 7.101 billion individuals, own both a smartphone and a feature phone.
In some of the world’s most populous countries, such as China and India, mobile adoption is around 70%, indicating that the smartphone market has huge growth potential in the coming years.
In addition, channels like Facebook and Instagram have started to develop native mobile games to ensure a high degree of product differentiation and enhance their advertising strategies through engaging games.
This has a significant positive impact on gaming performance and service delivery through better resolutions and frame rates, thus driving market growth.