BLOOMINGTON, Minnesota, June 7, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global Mobile Gaming Market, Analysis & Forecast, 2017 - 2023", the global mobile gaming market is expected to reach $58.71 billion by 2023, growing at a CAGR of 9.4% from 2017 to 2023. The increasing proliferation of smartphones, improving internet accessibility across the globe along with the availability of a diverse range of gaming genres will result in a strong growth of the market globally.
Browse 26 market Data Tables and 97 Figures spread through 182 Pages and in-depth TOC on "Global Mobile Gaming Market" http://bisresearch.com/industry-report/global-mobile-gaming-market-2023.html .
The mobile gaming industry has been undergoing dynamic changes in the recent years due to ongoing technological advancements coupled with the rising demand for interactive entertainment on portable devices. Minimal capital requirements have led to an influx of mobile game developers, causing an abundance of mobile games across iOS and Android platforms. The diverse consumer base of these games has paved way for an array of new revenue streams and integrated payment solutions ranging from subscription fees, pay-per-play, and in-app purchases royalties to a premium account and upgrade remunerations.
The rise of augmented and virtual reality in the gaming industry has given an opportunity to the developers to come up with new mobile gaming content incorporating these new forms of technologies. Moreover, as the competition in the market intensifies, it is becoming increasingly difficult for the developers to generate brand loyalty and sustain a revenue generating consumer base. However, provision of secure payment gateways, improving internet accessibility across the globe and availability of a diverse range of gaming options are expected to continue driving the industry towards growth in the coming future.
In terms of gaming genre, strategy and brain games had the largest share in 2016 and these games are expected to witness a strong growth rate during the forecast period. Their large revenue can be attributed to the widespread success of games such as Clash of Clans, Game of War: Fire Age and Puzzles and Dragons, which are top grossing games in most of the countries, says the research.
According to Rachit Jain, analyst at BIS Research, "Asia-Pacific (APAC) mobile gaming market is expected to witness the fastest growth throughout the forecast period. Improving internet connections and availability of low cost smartphones will be the primary growth drivers in the region. For instance, the Indian mobile gaming market is poised to grow with the faster CAGR of 28% in coming 5 years. The rising level of income of middle-class population and search for alternative modes of recreation by the growing youth population of the two of the largest developing nations, India and China will further escalate the growth of mobile gaming market."
BIS Research Report: http://bisresearch.com/industry-report/global-mobile-gaming-market-2023.html.
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by platform types, namely: iOS and android and genre types, namely: action/adventure, arcade, strategy and brain, casino, casual, sports and role playing games. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 10 different countries.
This report is a meticulous compilation of research on more than 150 players in the mobile gaming ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 60 leading companies, market participants and vendors. The report also profiles around 22 companies among which are Activision Blizzard, Electronic Arts, Glu Mobile, Square Enix, Ubisoft group, Gameloft, and Zynga. The report also focuses on the emerging start-ups in mobile gaming space and provides a snapshot of the products and services of such start-ups.
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Key questions answered in the report:
- How will emerging technologies such as AR & VR change the dynamics of the mobile gaming industry?
- How is freemium and subscription business model driving the mobile gaming space?
- What are the trends in the number of smartphone users and mobile gamers by country and by region? What are the trends in an average number of mobile games download per user yearly?
- What are the trends in free mobile gaming and paid gaming across country and region?
- What are the recent trends in the number of gamers opting for in-app purchases? List of highest number of downloaded games and the future trends in downloads.
- What is the average revenue generated from mobile games through paid download and in-app purchase?
- What is the total revenue generated in the mobile gaming industry by paid download and in-app purchase in 2016, estimates in 2017 and forecast till 2023?
- Which mobile gaming platform (iOS or android) will dominate the market in coming years?
- What are the major challenges inhibiting the growth of the global mobile gaming market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- Who are the key players in the mobile gaming market?
- What major opportunities do the mobile gaming companies foresee?
- What strategies are adopted by mobile gaming players to sustain or grow in the market?
- What are the impacts of recent big acquisitions in the mobile gaming space?
About BIS Research:
BIS Research is a global market intelligence and advisory firm which focuses on those emerging trends in technology, which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on various technology verticals such as 3D printing, advanced materials and chemicals, aerospace and defense, automotive, healthcare, electronics and semiconductors, robotics and UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for the senior management.
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SOURCE BIS Research