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Smartphone Gaming Top List Of Global Digital Gaming Market Trends
Mobile gaming has come a long way since that addictive Snake game we played on those clunky Nokia phones. Changes that have taken place in Global Digital Gaming Market Trends since then have to lead to the extremely sophisticated games we have today. That’s the interesting thing about mobile app games – that no matter how graphic-heavy they get one can easily find and install them from the app stores that their phones are connected to.
This consumer attitude has made sources like Google’s Play Store and the Apple Store as big as they are right now – whatever you need or like, there’s an app for it. The other plus points are that they are cheap to purchase, in many cases they are free but the publishers generate revenues from in-app purchases.
In fact, most of the revenues earned by the global market for digital gaming comes from user spending in this segment. What makes things stay this way is how multi-functional the average smartphone has become, and how widespread the game apps are, attracting user-base that’s diverse and spans the entire globe. It’s good for the mobile game companies as well, who can build their expertise and take their digital gaming offerings to an even bigger audience.
A report published by Research On Global Markets shows how these trends in the global digital gaming market help this industry to keep growing at a CAGR of 15.7% during the period 2018-2023. Further, the market is likely to reach USD 264.9 Bn by the end of the forecast period. One trend that they uncovered was that the industry had a preference for digital distribution channels over physical distribution channels, owing to easier purchasing, downloading of digital content, and compatibility across different gaming platforms.
Numbers are always boring, so we found some other interesting stats and news you could use.
• Given how big 5G and the penetration of smartphones is, the mobile platform is likely to be the biggest platform segment, even outdoing the usual PC and Console. It’s been estimated at USD 165.3 Bn by 2023, while PC gaming will have a share of 11.0%.
• Mobile platforms will even surpass full online gaming as well, a segment that had been popular till game apps got better and more accessible.
• Access to the internet is convenient now due to the increased proliferation of smartphones and tablets.
• Developers are now more focused on developing smartphone-friendly app versions of their most popular games that had been previously played via PCs, or Play Stations.
• On average, most of the apps downloaded onto iOS and Android are games, some immediately after purchasing it.
• Asia-Pacific is the leading contributor to the global digital gaming market, contributing about USD 137.8 Bn by 2023, most of it coming from China, South Korea, Japan, and India.
• Latin America is expected to be USD 6.9 Bn by 2023 as marketing and distribution are being revamped innovatively, with Sony and Microsoft permitting independent developers and small studios to work on or develop their consoles.
Written by a content marketer who keeps updated on industries for market research purposes and studying them.
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