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The online smartphone and tablet games market size is forecast to increase by USD 42.6 billion and is estimated to grow at a CAGR of 14.74% between 2023 and 2028. The market has experienced significant growth in recent years, particularly among the youth demographic. Fueling this trend is the surge in the adoption of mobile development platforms, making gaming more accessible than ever before. This accessibility, coupled with the rise in popularity of the free-to-play business model, has led to an unprecedented expansion of the gaming market. In this model, players can download and play games for free, with the option to purchase additional features or virtual goods. The convenience and affordability of mobile gaming and the free-to-play business model have contributed to the industry's impressive growth trajectory.
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The market is witnessing significant growth due to the increasing popularity of interactive entertainment systems among the youth. Smartphone game providers are capitalizing on this trend by offering user-friendly interfaces and advanced mobile development platforms, such as Android, to cater to the demand for mobile games. The market is segmented into smartphones and tablets, with smartphones leading the market due to their widespread usage. Service providers are focusing on encryption-based security to ensure safe transactions on app stores and online platforms. The integration of augmented reality and virtual reality technologies in mobile games is also driving market growth. Multiplayer games, location-based games, and massively multiplayer online games are popular genres, offering immersive experiences to users. Console games are facing stiff competition from these mobile games, as they offer the convenience of playing on-the-go. The digital games market is expected to continue its growth trajectory, with simulation games, action games, and adventure games being among the top categories. Overall, the market is a dynamic and evolving industry, offering endless opportunities for innovation and growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rise in adoption of games among youth is notably driving market growth. The online gaming market has experienced significant growth due to advancements in virtual reality technology and the emergence of massively multiplayer online games (MMOs). Smartphone and tablet users now have access to a diverse range of digital games, including simulation, action-adventure, strategy, sports, role-playing, and educational genres.
Moreover, these games offer immersive experiences that cater to various interests and age groups. Esports has become a popular trend, attracting millions of viewers and players worldwide. The availability of high-definition displays, audio devices, and wireless network capabilities has fueled the demand for online gaming, enabling real-time interaction and collaboration among players. Thus, such factors are driving the growth of the market during the forecast period.
Surge in adoption of cloud-based gaming applications is the key trend in the market. The market have witnessed significant growth, with cloud-based gaming gaining popularity among consumers, particularly those in the demographic of 13 to 20 years old.
Moreover, strong 4G networks in developed and emerging nations, such as Singapore, Indonesia, Malaysia, and Mexico, as well as the upcoming 5G technology, are expected to create lucrative opportunities for cloud-based gaming applications. In cloud gaming, players have access to a vast selection of games online without the need to purchase any physical or digital copies. Thus, such trends will shape the growth of the market during the forecast period.
Lack of social interaction is the major challenge that affects the growth of the market. Smartphones have revolutionized the way we entertain ourselves, with gaming being a significant aspect. Virtual reality technology has brought an unprecedented level of immersion to mobile gaming, making it a popular choice among consumers.
Moreover, massively multiplayer online games, simulation, action-adventure, strategy, sports, role-playing, and educational games are some genres that cater to diverse preferences. Esports has further fueled the popularity of mobile gaming, making it a lucrative industry. While video game consoles and personal computers continue to dominate the gaming market, smartphones offer the convenience of on-the-go gaming. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Electronic Arts Inc: The company offers online smartphone and tablet games such as The Sims Mobile, Madden Mobile and FIFA Mobile.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The smartphone segment is estimated to witness significant growth during the forecast period. The market cater to the youth demographic, offering interactive entertainment systems through smartphone game providers.
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The smartphone segment was the largest segment and valued at USD 27.20 billion in 2018. Encryption-based security ensures user data privacy, while a user-friendly interface and mobile development platforms, such as Android, facilitate seamless gameplay. The market encompasses various genres, including casual, social, first-person shooter, role-playing games, and more, accessible via app stores and online platforms. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market caters to the youth, who seek interactive entertainment systems, engaging in various genres such as casual, social, first-person shooter, role-playing games, and more. Smartphone game providers employ encryption-based security, user-friendly interfaces, and mobile development platforms like Android to create immersive experiences. Cloud gaming, 5G networks, and multiplayer games further enhance the appeal, enabling real-time interaction and location-based experiences. In-app purchases, blockchain technology, and digital games are significant revenue streams, while data privacy concerns and data storage remain critical issues. Hence, such factors are driving the market in APAC during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market caters to the youth who seek interactive entertainment systems. Smartphone game providers continue to innovate, offering user-friendly interfaces and mobile development platforms for the Android segment. Casual, social, first person shooter, role playing games, and multiplayer games dominate the market. Cloud gaming and 5G network enhance the gaming experience, enabling real-time multiplayer game play on mobile devices. In-app purchases, blockchain, and machine learning are key trends. In-app spending on digital games reached new heights in 2020, with popular genres including mobile slots and iGaming industry. The market landscape depends on the Massive Multiplayer Online Games, In-app purchase, Location based games, In app purchases, In app spending User friendly interface,Chat based customer support, Mobile development platform, Free to play business model, Location based games, Real-time strategy games, Casual games, Location-based games, PCs, In-app purchases, In-app spending, Artificial Intelligence, Gaming apps, Strategy games, Sports games, Ice pops. Data privacy concerns and data storage are significant challenges. Encryption based security and AI are crucial to ensure user data protection. The market is expected to grow further with the integration of augmented reality, location-based games, and consoles/PCs. However, crypto crime and digital games on app stores and online platforms pose potential threats. Service providers must address these challenges while maintaining a balance between innovation and user experience.
Market Scope |
|
Report Coverage |
Details |
Page number |
134 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.74% |
Market growth 2024-2028 |
USD 42.6 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.53 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 57% |
Key countries |
China, US, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Com2uS Holdings Corp., CyberAgent Inc., Electronic Arts Inc., King.com Ltd., Machine Zone Inc., Melior Games Ukraine, NCSoft Corp., Netmarble Corp., NEXON Co. Ltd., Nintendo Co. Ltd., PLR Worldwide Sales Ltd., Rovio Entertainment Corp., Sony Group Corp., Square Enix Holdings Co. Ltd., Supercell Oy, Take Two Interactive Software Inc., Tencent Holdings Ltd., The Walt Disney Co., Vivendi SE, and Warner Bros Discovery Inc. |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Device
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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