Mobile Gaming Market Size, Share, Growth Analysis, By Monetization Type (In-app Purchases, Paid Apps), By Platform (Android, iOS), By Age Group (Below 24 Years, 24-44 Years), By Region - Industry Forecast 2024-2031

Global mobile gaming market size was valued at USD 100.96 billion in 2022 and is poised to grow from USD 118.22 billion in 2023 to USD 417.99 billion by 2031, growing at a CAGR of 17.1% in the forecast period (2024-2031).

Increased government funding has spurred significant advancements in the local gaming industry. The sector's growth is further supported by the rollout of 5G networks and a rising preference for cloud gaming and streaming services. Additionally, the widespread use of social media platforms like Facebook and Instagram has led to the creation of numerous innovative mobile games. The market is also benefiting from the flexible in-game payment options available. The rising interest in esports, social gaming, cloud-based gaming, and roguelike genres is driving further expansion. The availability of games on a variety of devices, including consoles, smartphones, portable gaming devices, computers, and tablets, along with the focus of major market players on developing interactive games, continues to attract younger audiences and fuel market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the global mobile gaming market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Mobile Gaming Market Segmental Analysis

The global mobile gaming market is segmented based on the monetization type, platform, age group, and region. Based on monetization type, the market is segmented into in-app purchases, paid apps, and advertising. Based on platform, the market is segmented into android, IOS, and other third-party stores. Based on age group, the market is segmented into Below 24 Years, 24-44 Years, above 44 Years. Based on region the market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.

Drivers of the Global Mobile Gaming Market

The surge in smartphone adoption and enhanced internet connectivity across the globe is significantly boosting the mobile gaming market. The availability of high-end smartphones at more affordable prices has led to a notable rise in mobile gamers. This trend is especially evident in rapidly expanding economies such as India, China, and Mexico. India, in particular, is poised to invest heavily in mobile gaming, positioning itself as the fastest-growing market in this sector worldwide.

Restraints in the Global Mobile Gaming Market

Mobile games often require access to personal information and include in-app purchases, which raises concerns about data privacy. The increasing scrutiny over how data is collected, stored, and protected has led to growing apprehension among users. These concerns about data breaches and the potential misuse of personal information can undermine consumer trust. As a result, there may be stricter regulations imposed on the industry, which could impact the growth of the mobile gaming market.

Market Trends of the Global Mobile Gaming Market

Augmented Reality (AR) enhances user interaction by integrating game audio and visual elements into a more realistic environment. Virtual Reality (VR) takes this a step further by offering players a first-person perspective and 360-degree view, creating an immersive experience that closely simulates real-world scenarios. Additionally, mobile games like Pokemon Go and Ingress represent some of the most popular examples of the AR genre available in app stores.