Mobile Gaming industry to be worth $272 billion by 2030

It has increased in a big playing field in the last five years regarding mobile gaming. And it is expected to grow even bigger!

As per a recent report, the mobile gaming industry will be worth $272 billion by 2030.

Mobile gaming and its ever-expanding universe

Thanks to the vast development in technology and increased internet connections, gaming has become even more accessible. And that has been one of the primary reasons more people are entering the arena of mobile gaming.

Yes, the consoles are still incomparable when it comes to AAA heavyweights and the overall breathtaking experience. But the margin has narrowed down in recent years.

The latest report from GlobalData reveals that the mobile gaming industry will be worth $272 billion by the end of 2030. It heavily stresses this because 5G is not far away, and its availability will only result in increased usage of mobile devices for gaming purposes.

Furthermore, the report says that the industry will witness a compound annual growth rate (CAGR) of 11% in the next ten years.

Rupantar Guha, Associate Project Manager for Thematic Research at GlobalData, said:

“Mobile gaming is already bigger than the console and PC gaming markets combined, contributing nearly 57% of global video games revenue in 2020.”

He added that the growing maturity of streaming services combined with cloud gaming and esports services would spur massive growth. Simply put, a large number of gamers will turn to mobile devices to run all their favorite titles.

ALSO READ: Mobile gaming trends that make a buzz in 2021

Upcoming big titles

With the rise of mobile gaming, many prominent companies are also dedicating their teams to work on smartphone projects solely. As a result, PC gaming is undoubtedly going to get tough competition in the next decade.

Developers such as Activision Blizzard, EA, Riot, and many others are currently developing mobile versions of their iconic PC titles.

Moreover, many new projects will also enter the arena of the now popular category, battle royale. While PUBG and Call of Duty Mobile are already dominating, they will face a new rival in the form of Apex Legends Mobile.

Respawn will soon come out with the port for mobile gaming. As of now, it’s in the beta testing stages in limited regions only.

What are your thoughts on all the upcoming mobile games in the future?

Do you like PC or smartphone titles?

You can share your reactions or any other essential suggestion you have on our social media handle on Twitter at @MICKYNewsOz.

 

Image courtesy of TheGamer/YouTube

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