We can see today that people are always glued to their mobile phones. There has been a growth of game users which has brought lots of changes in the gaming industry recently. There are now more opportunities for game developers, marketers and others involved in the gaming industry.
So if you are thinking of entering the mobile gaming market and make use of this opportunity, let us know about some of the trends in the industry. According to a new report from GlobalData, the mobile gaming market will be worth $275 billion by 2030, with a compound annual growth rate of 11%.
Epidemic boost Mobile Gaming
When everything was put on hold due to the pandemic, people turned to mobile games to keep themselves entertained. The fact that mobile game apps are easily accessible on smartphones, easy to use and availability of a variety of game genres attract people of all age groups.
Statistics for Mobile Gaming
- The mobile gaming industry with the revenue of $ 77.2 billion in 2020 is one of the highest performing industries globally.
- The number of players have increase by 12% in 2020 than in 2019 with over 2.5 billion players.
- The number of global game consumers is approaching 3.1 billion, or 40% of the world’s population (Source- DFC Intelligence)
- Demand for more digital gaming is expected to drive the industry’s worth to more than $94 billion by 2024. (Source- Nasdaq)
- According to Statistics for 2020, Asia is the biggest gaming marketplace in the world, with approximately $34.114 billion revenue from over 905 million users. China alone generates $21.02 billion which is about 61% of the Asian revenue.
- Apple's App Store accounted for more than half of this at $26 billion, up 13.5% year-on-year, while games spending on Google Play rose 24.7% to $18.7 billion.
- Overall consumer spending across both Apple and Google's stores reached $64.9 billion, meaning games accounted for 68.9% of all dollars spent. Total spending was 24.8% higher than the $52 billion recorded in H1 2020.
- PUBG mobile is the top mobile game worldwide in terms of revenue. As of April generated over $225.2 million in revenue. China, which happens to be b2020, PUBG, owned by the Chinese game publisher, Tencent, China the host country, accounts for 58% of its revenue, with 9.6%coming from the United States. (Sensor Tower)
Mobile Gaming Trends
1. Playable ads
Game monetization through in- game ads will become more popular among mobile game developers. According to AppFlyer, mobile app marketers spent $74.6 billion in 2020 to encourage users to install mobile apps, which is 30% up compared to 2019. This 74.6 billion, when examined by platforms, saw Android earn $48.5 billion compared to iOS’s $26 billion.
The popularity of playable ads is increasing as it provides users the opportunity to experience the game and then decide to download. Six in ten (62%) mobile game players regularly choose to engage with a video ad for an in-game reward. Many game developers believe that in-game ads have more chances of monetization. The developers will have the advantage of using these unique and interactive ad formats to expand the reach to more players.
2. Social play with more connectivity
With the rollout of 5G connectivity the mobile gaming sector will be hugely benefited. With the push of cloud gaming services and esports along with the supported mobile platforms, gamers are likely to embrace mobile gaming in the coming years. According to a report, there will be one billion active 5G ready smartphones by the end of 2022, that is 21.8% of all active smartphones worldwide.
The 5G network because of its high bandwidth, low latency and high speed enables developers to produce advanced mobile gaming content, also more social gaming between users. According to the entertainment software association, 56% of frequent gamers played multiplayer games and spent an average of seven hours a week playing with others online.
3. Just watch, No Play
Now Gaming is also considered as a spectator sport. According to a report, 71% of millennial gamers watch gaming content on Youtube or Twitch. Developers will need to think about what kind of audience they want for the game, watcher or gamer.
Some statistics to explain
71% of Millennial gamers watch gaming video content, or online videos about games, on platforms like YouTube and Twitch (Source: Nielsen)
When Millennial gamers are watching gaming video content, they are doing this for an average of six hours each week (Source: Nielsen)
Watching gamers play video games online is more popular than watching sports for 18-25-year-olds (Source: Limelight)
Valorant was the most-watched game on Twitch in a single quarter with 534 million hours, beating Fortnite which peaked at 399 million hours in Q2 of 2018 (Source: Streamlabs and Stream Hatchet)
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