Online Smartphone and Tablet Games Market to Reach $149.93 Billion by 2027- Ready to Experience Exponential Growth
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Rise in smartphone penetration, free-to-play business model, and increase in the number of smartphone users fuel the growth of the global market.
PORTLAND, OREGON, UNITED STATES, August 19, 2021 /EINPresswire.com/ — Rise in smartphone penetration, free-to-play business model, and increase in the number of smartphone user fuel the growth of the global online smartphone and tablet games market. On the other hand, rising concerns regarding user privacy and security issues impede the growth to some extent. However, surge in adoption of cloud gaming and growing use of machine learning and artificial intelligence in mobile gaming apps are expected to create lucrative opportunities in the industry. According to the report, the global online smartphone and tablet games industry was estimated at $30.49 billion in 2019, and is anticipated to hit $149.93 billion by 2027, registering a CAGR of 21.8% from 2020 to 2027.
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Impact of COVID-19 on Online Smartphone and Tablet Games Market:
• The pandemic led to stay-at-home orders during the first phase of the lockdown, which in turn led to huge adoption of smartphones and faster internet connectivity.
• The situation also led to increase in the number of mobile gaming users, thereby boosting the global market for online smartphone and tablet games.
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The android segment contributed to nearly three-fifths of the global online smartphone and tablet games market share in 2019, and is expected to lead the trail by the end of 2027. The same segment would also register the fastest CAGR of 22.5% throughout the forecast period, owing to the open nature of android platform.
The massive multilayer online games segment to maintain the dominant share-
The massive multilayer online games accounted for more than half of the global online smartphone and tablet games market revenue in 2019, and is anticipated to dominate by 2027. Rapidly improving internet connection in developing nations of Asia-Pacific and LAMEA and growing gaming industry across the globe drive the segment growth. The casual segment, on the other hand, would exhibit the fastest CAGR of 22.4% from 2020 to 2027. The pandemic situation across the globe and increase in lockdowns in majority of countries have attracted more consumers to social media games, which propels the segment growth.
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Asia-Pacific, followed by North America, garnered the major share in 2019, holding around half of the global online smartphone and tablet games market. The same region would also showcase the fastest CAGR of 23.9% during the forecast period. This is due to rise in online smartphone and tablet games among major Asian countries, which include China and Japan and decrease in purchasing cost of mobile gaming applications such as Liftoff, AppsFlyer, Clickky, AppLift, and Aarki in the region.
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Key players in the industry-
• Electronics Arts, Inc.
• Gameloft
• Kabam Games, Inc.
• King Limited
• MachineZone, Inc.
• Melior Games
• NCSOFT Corporation
• Rovio Entertainment Corporation
• Supercell OY
• The Walt Disney Company
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August 19, 2021, 19:39 GMT
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