According to a new report by GlobalData titled Mobile Gaming – Thematic Intelligence, the mobile games industry generated $124 billion in revenue in 2023 and is projected to reach $195 billion by 2030.
The report highlights key industry trends that will shape the next one to two years of mobile gaming, spanning from technological advancements to macroeconomics, and regulations. It predicts that the majority of gamers will embrace mobile gaming in the near future, driven by the growth of mobile esports, cloud gaming, and the enhanced hardware capabilities of mobile devices. For instance, Apple’s iPhone 15 can already support console-quality games, making big-budget mobile games more appealing to both publishers and gamers.
Importance of Mobile Gaming Expertise
As the mobile sector continues to outpace PC and console gaming, mobile gaming expertise has become essential for game development companies. GlobalData’s report emphasizes that every game company must have a strong presence in the mobile gaming space. Tech giants like Take-Two, Activision Blizzard, and Netflix have already shifted their focus towards mobile gaming.
Despite its growth, the mobile industry faces challenges from regulatory uncertainties, particularly in China. Sudden regulatory changes can have a significant impact on the sector, as evidenced by an $80 billion loss in value for Tencent and NetEase overnight due to a single announcement in December.
The report also points out that regulations related to in-app purchases, data privacy, child safety, antitrust, AI, and app store commissions will continue to influence the strategies of mobile gaming companies.
Providing context to the data, GlobalData’s Thematic Intelligence principal analyst Rupantar Guha stated, “Mobile gaming revenue saw steady growth in recent years, with a 6% increase in revenue in 2023 compared to 2022, following a period of slower growth due to economic factors.”
A recent perspective shared by Daniel Tchernahovksky from AppLovin offers insights on how studios can achieve sustained growth in 2024, leveraging advancements in AI and innovative creative approaches.
