One industry that is rapidly changing, growing and evolving every day is mobile gaming. With millions playing on smartphones or tablets, it has become one of the world’s fastest-growing industries. Of course not without the help of mobile games development services such as https://ilogos.biz/mobile-game-development-company/, many manage to release good products on mobile platforms. As we head into 2021-2022, let’s dive deeper into some essential statistics and facts of this market to understand more about this phenomenon.
Mobile Gaming Revenue
In 2021, the mobile gaming industry generated over $120 billion in revenue;, according to a report by App Annie. This performance shows a significant improvement of nearly 22.8% over the previous year. The growth momentum is expected to continue since experts from iLogos predict that it can reach up to $138 billion by 2023 – impressive numbers indeed!
Mobile Gaming Users
Worldwide, over 3.5 billion people use smartphones. Of those individuals 2.8 billion play mobile games meaning a vast number of people worldwide are involved in the practice, demonstrating its widespread appeal.
Moreover, players are not required to acquire expensive gadgets or exhaustive subscription plans that have become increasingly accessible to these interested parties considering a variety of affordable devices and data methods now exist in our market economy promising accessibility to more gamers than before.
Popular Genres
Mobile games are increasingly diversifying in terms of genre and there is something for every kind of gamer among them. However, the most popular genres seem to be puzzle, strategy, and action games. In fact, these three genres form a majority of the top-grossing mobile game categories with fan-favorites such as Candy Crush, Clash of Clans, and PUBG Mobile consistently featuring high on app store charts.
At the same time, sport-based mobile games like FIFA and NBA franchise starting from the club level all the way to international championships have claimed an enormous following while racing games that focus on cars or motorbikes have retained a considerable market share as well. Games based on simulations have also made their presence felt.
Despite this diversity in offerings, puzzle strategy and action remain unrivaled at present when it comes to lovers of mobile gaming who want fast-paced gameplay without much commitment or desire for strategic play mode.
In-App Purchases
Mobile games generate substantial revenue from in-app purchases. According to Sensor Tower, the top 10 mobile games alone accrued more than $1.3 billion in revenue solely from these in-app purchases within the first quarter of 2022. This indicates that it is crucial to create fascinating gameplay and encourage players to engage with spending money during app use.
That being said, there is an ever-growing concern among consumers about what are known as “pay-to-win” mechanics featured in various mobile games. It’s important because this feature throws off balance between different competitors; players who voluntarily make in-app purchases have a distinct advantage over those who don’t or won’t pay for their progress through the game.
Mobile Gaming and Esports
Mobile gaming is escalating in popularity becoming a noteworthy player in the esports industry. Professional players and fans from across the globe are connected through games such as Free Fire and PUBG Mobile. Tournaments for mobile gamers have gained importance globally.
The industry of mobile gaming, particularly for esports has experienced consistent growth over time, expected to continue till 2024; revenue projections see this particular market surging $1.1 billion in earnings alone! This suggests that game developers need to create a competitive gameplay experience infused with innovation which will attract a global audience eager for their products.
Conclusion
The mobile gaming industry is a behemoth of commerce expanding exponentially, displaying no signs of speed reduction anytime soon. A vast number of users that reaches billions, together with revenues ranging in the billions as well, makes iOS and Android games essential components in the entertainment world’s portfolio.
As technology advances by leaps and bounds every day, one should expect newer innovations and fresh trends to keep players engaged constantly; enthusiastic feedback from burgeoning gamers will drive continued growth for years to come.
