When thinking about gaming, audiences are quick to think about console and PC platforms due to the plethora of massive games available on these platforms. However, mobile gaming is far larger than these platforms.
Going by revenue, the PC market is bigger than consoles, but both of these combined still fail to match up to mobile gaming. According to a report, this platform made nearly $100 billion in revenue in 2022.
However, an analysis report from the Allied Market Research team states that the mobile gaming market will be worth $270 billion by 2032.
Why it matters: The accessibility of mobile platforms allows this industry to reach millions of people who are not part of a console or PC gaming ecosystem.
The report points out that the market value of this industry was already a whopping $90.6 billion by 2022. However, with no signs of slowing down, mobile gaming is expected to triple in size over the next decade, reaching $269.8 billion in the future. The report said:
“It is estimated to reach $269.8 billion by 2032, growing at a CAGR of 11.7% from 2023 to 2032.”
This estimate seems quite reasonable, given that we can now play AAA games on mobile phones. The iPhone 15 Pro is capable of running games like Resident Evil 4 Village, Assassin’s Creed Mirage, and Death Stranding.
Many live service games are also available on mobile platforms that generate more revenue than most AAA releases. PUBG Mobile and Candy Crush are two of the notable games that contribute to the revenue each year.
Mobile gaming’s ability to allow players to stay in their comfort zone and enjoy a quick session or two without a hassle makes it more unique than other platforms. These games are also cheaper to produce, opening up room for more profits.
Looking at this trend, Microsoft has also decided to enter the market. Xbox intends to open its own mobile gaming store, with the gaming giant expressing that this would be the only way forward for Xbox.
Elsewhere, PlayStation is partnering with NCSoft to jumpstart its own projects in the industry.
Because of the current market landscape, mobile gaming’s position is unlikely to change.
This report highlights very realistic figures for the future, and with Microsoft eyeing this industry for Xbox, they might even seem minuscule in a hypothetical future ruled by mobile and cloud gaming.
Still, console and PC gaming are also on the rise. The entire industry seems more lucrative than ever, though it lost to TV/films this year in terms of overall revenue in the UK.
