The global mobile gaming market will reach $190bn by 2030, up from $124bn in 2023, according to research and analysis company GlobalData’s thematic intelligence mobile gaming report.
The analyst prediction includes revenue generated by smartphone and tablet gaming. Mobile gaming is already bigger than both console and PC gaming combined, according to GlobalData.
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GlobalData principal analyst, Rupantar Guha, stated that despite experiencing some decline in 2021, the mobile gaming market showed significant signs of recovery in 2023 after its total revenue increased 6% compared to 2022.
Maturing technologies like streaming and 5G mean that many gamers will begin to embrace mobile gaming, stated Guha.
This will especially grow as mobile’s ability to host bigger games will attract more publishers to make their best-selling titles available on mobile devices, said Guha referring to popular titles such as Resident Evil 4 and Assassin’s Creed Mirage.
“Due to its lucrative revenue prospects, console and PC game publishers such as Activision Blizzard (owned by Microsoft) and Take-Two Interactive are heavily focused on mobile gaming,” said Guha.
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By GlobalData“In addition, video streaming services (e.g., Netflix) and online advertisers (e.g., AppLovin) are also in the race,” he added.
While mobile gaming will continue to be a competitive market for multiple companies across the gaming and entertainment industries, Guha warned that regulation would be a pressure point for the foreseeable future.
In 2023, China’s draft regulation to curb in-game spending wiped $80bn in market value from Tencent and NetEase, according to Guha.
“Regulations around in-app purchases, data privacy, child safety, antitrust, artificial intelligence (AI), and app store commissions will continue to impact all mobile gaming companies,” he added.
Since most mobile games are played online, many players are giving away their data without informed consent warns GlobalData.
One Usercentrics study, referenced by GlobalData in its thematic report, found that over 90% of mobile games were not fully compliant with data privacy regulations in 2023. As mobile gaming grows in popularity and revenue, companies will need expertise to adhere to data privacy regulations.
