Mobile Gaming Industry Analysis, Regional Outlook, Competitive Market by 2024: Global Market Insights, Inc.
Mobile Gaming Market trends are analyzed from recent past with an eye on coming years in this report that also offers projections for mobile gaming industry targeted at helping in business decisions. Mobile Gaming Market size is estimated to grow at a double digit CAGR from 2017 to 2024. Increasing adoption of smartphones has drastically changed the gaming industry landscape. Advanced pocket computers have enhanced the customer experience in the last few years thereby supporting the industry growth. Real-time multiplayers have transformed smart pocket games and satisfied the customers’ e-sport needs. For instance, ESL’s partnership with Twitch and in April 2016, the success of Clash Royale tournament held in Helsinki indicated that these pocket computers can be used for e-sports as well. Customers enjoy the benefits of smarter games that are on the cloud, wherein one can play, pause, change device, find a friend to play, and speak the local language being safe. These factors may support the mobile gaming industry development during 2017 - 2024.
One of the major driving factors for the industry is the low barrier for new entrants over PCs and consoles. Pocket computer games can be developed in lesser time and cost, whereas it takes years to develop games for PCs and consoles and it involves a huge investment of millions of dollars. In 2016, app stores offered 800,000 games and 500 games are added every day on this platform. The game launchers cannot afford marketing tools, such as TV campaigns, so they use an outcome-based advertising, which includes app-install ads. This will minimize the expenditure for small-scale companies and will enable the players to spend hours without payments. This reason will support the mobile gaming industry growth rate. Certain defined rules, heterogeneity, and fragmentation of the industry are the ecosystem challenges faced by the industry participants. The absence of standards avoids giant participants and innovators profit from economies of scale and this causes a surge in the transaction expenditure. These challenges may impact the industry growth over the forecast period.
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