Mobile gaming has been growing in popularity with both competitive players and casual gamers. It is the most accessible form of gaming in the world, offering a wide variety of games and evolving at a rapid pace to become more advanced. A report from Allied Market Research estimates that the mobile gaming market could reach a value of $270 billion by 2032.
In 2022, the global mobile gaming industry generated $90.6 billion in revenue. It is expected to grow at a CAGR of 11.7% from 2022 to 2032, reaching approximately $269.8 billion. In a comprehensive 381-page report, the drivers of this growth, including mobile esports, are highlighted.
As technology evolves, mobile gaming is surpassing all previous expectations. Mobile gaming now makes up more than a quarter of the global gaming revenue, a significant figure considering the popularity of free-to-play mobile games.
Last year, the release of the iPhone 15 pushed the boundaries of technology even further, allowing gamers to play high-quality AAA titles. The evolution of AR and VR technology is also contributing to the advancement of mobile gaming.
Microtransaction-backed operating models are a common sight in the mobile games industry, contributing to the revenue despite most mobile games being free to download and play.
Mobile Esports
Tournaments played on handheld devices are proving to be mightier than those on traditional PC or console platforms. Mobile esports are gaining momentum, with peak viewer counts reaching millions in tournaments such as the Free Fire World Series and the M5 World Championship.
Mobile gaming provides a more readily available way for individuals to break into competitive gaming, especially for those who cannot afford high-end gaming PCs or consoles. The mobile gaming market continues to grow, and so does the mobile esports market.
With advancements in technology and the release of new games, a paradigm shift in competitive mobile gaming could be on the horizon.
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