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How Mobile Game Market Revenue Is Increasing To The Impressive Growth In 2020?
The mobile game industry has recorded revenue growth of more than $65+ billion which explains the extreme growth further with the involvement of more android game developers and iOS game developers. The most interesting fact is that this billion-dollar gaming industry earns 45% of the $120+ billion gaming industry which belongs to online mobile games, which is the fastest-growing gaming platform. The major portion of this active participation and increased revenue belongs to stand-alone Asian countries especially China, Japan, and South Korea, with North America, European countries, and UAE contributing a net $40 billion worth.
The report revealed that the mobile game players have spent more than 15% across the iOS App Stores and Android's Google Play which yielded from $55 billion in 2018 to $62 billion in 2019.
In the same year, out of the total earning from in-app purchases on android, 74% of the earning came from the globe except for China, exactly $85 billion as total worth. Amazingly, 80 percent of the global gaming market is represented by android gamers where only the USA is the only nation where the number of iOS game players is more than the numbers of android gamers.
Mobile game developers and publishers are seeing these growing figures as an opportunity to roll out mobile game versions from popular PC and console-based games such as, as Nintendo with Niantic for Pokémon Go.
The top-grossing mobile games that ruled the mobile game market growth chart
The top five games were rewarded to Fate/Grand Order of Japan, a recurring top-grossing game in 2019 and 2020, and next one is King's Candy Crush Saga, earned $84.5 million year-over-year with in-app purchases by the users, and then it's Pokemon GO.
The top ten games that have generated the highest revenue with an overall estimate of $11.2 billion as combined revenue during 2019-2020 and top 11 to 30 mobile games have generated the revenue of an estimate of $9.88 billion increasing by 15.9% as compared to the previous year.
What business model that must be introduced by an android game development company to ensure the imperative mobile game market growth?
Mobile game development is much cheaper than other variants of game development. The cost behind any mobile game development lies between $50,000 to over $2 million. Thus, choosing the right path(s) for a game to make money becomes important.
Let’s dive a bit deeper to calculate where a major opportunity exists for mobile game developers and android game developers to drive more value for players.
Paid model refers to own the game by paying an amount. However, in the mobile game industry, paid games are making up just 8% of overall revenue.
Generally, 53% of the mobile game industry is preferring the in-game advertising. which is a popular form of monetization for freemium games because it allows android game developers to maximize the number of players they can monetize at a time. Mobile ads can appear in several forms, from banner ads to rewards-based ads that actually help players in progressing their game if they choose to watch a sponsored video.
Digital in-app purchases (IAPs) refers to allow the mobile game players to buy digital items or additional features within the game– for example, spend 99 cents for an extra life or $3.99 for a bundle of 5 lives or $49 to buy the chips or coins. Such games have a preexisting “store” appear during gameplay and will prompt players to spend a small amount of money to play the game further smoothly.
There are several new models emerging, such as sponsored locations for AR games like Pokémon Go, merchandising and subscriptions.
What are the new challenges for the mobile game market growth in terms of revenue for mobile game development company?
Though ads are said to be lucrative and efficient while making up 53% of the mobile games market revenue, but they aren’t the preferred choice. Mobile game developers prefer to see the gaming world where players expect to have their game for free for players but then players realize that game developer is trying to earn money through ads or any other means they start to lose emotional connection. This industry of billions only 5% of players are spending over the game through in-app purchases.
This industry is thriving from the billion in 2021 and 2025. These studies have already predicted the growth can spike up to $200 billion too. Despite having only 5% spending money in the games, still out of 30 mobile game publishers 23 different game publishers are in the top and responsible for increasing the mobile gaming revenue growth beyond ten. The more interesting it would be to see how many market revolting business models will evolve to get more money in the mobile game industry.
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Username: - play002, play003, play004, play005, play006
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