According to the report, China is the fastest-growing regional market due to the presence of major game vendors.
The global mobile gaming market is expected to record a value of $151.1bn by 2026, rising at a CAGR of 9.76%, for the time period of 2022-2026, according to the latest report titled Global Mobile Gaming Market (by Operating System, Device & Region): Insights & Forecast with Potential Impact of COVID-19 (2022-2026) by ResearchAndMarkets.
Factors such as expansion of gaming industry, rising consumer spending on mobile games, increase in number of mobile gaming users, surging ownership of smartphones, rising internet penetration rate and rapid urbanisation will drive the growth of the market.
However, the market growth will be challenged by major issues in the development of mobile games and identifying the optimal monetisation policy for mobile games. A few notable trends may include escalating spending on mobile gaming advertising, growing adoption of cloud gaming, incorporation of augmented reality/virtual reality (AR/VR) in mobile games and implementation of free-to-play pricing model.
The gaming industry worldwide is expanding, and smartphone is playing a significant role in this expansion. The development of mobile games has resulted in scalability for the gaming industry.
Various social media platforms are developing innovative mobile games to ensure high product differentiation and benefit from engaging games to enhance their advertisement strategies, which is also playing a key factor for the growth of the global mobile gaming market.
The fastest-growing regional market was China due to the presence of major game vendors, launching a variety of new games annually. Further, other key regions such as the US and Japan are adopting groundbreaking strategies to build a strong consumer base in mobile gaming market, and thereby prompting the growth of the overall global market.
