Persistence Market Research recently published its report on the global market for mobile & handheld gaming, excerpts from which project that market to grow at 10.3% CAGR and bring in over US$ 112 Bn revenues by the end of 2026.
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The gaming market is being propelled by technological advancements on the continuous basis Game developers in the emerging economies are into enhancing gaming experience by rewriting and launching codes for various platforms/consoles like Windows PC, Xbox, PlayStation, that too, incorporated in a standalone product, that too, through cloud platform. The global Mobile and Handheld Gaming Market is expected to grow on a splendid note in the next 10 years. With cloud computing turning out to be the mainstream, majority of industry verticals are expected to migrate to cloud solutions. Edge computing would be the major disrupter in the near future. In other words, the ICT vertical would be living on an innovative edge in the forecast period.
Unique graphic interfaces will continue to lure millions of mobile phone users towards the virtually-captivating realm of gaming. Even the most ardent gaming enthusiasts, who have championed several computer-based and console-based games, will also grow fond of mobile and handheld gaming.
According to Persistence Market Research’s report –
- The global market for mobile & handheld gaming will witness an absolute $ opportunity of US$ 73.6 Bn between 2016 and 2026
- At present, the market is valued at US$ 42.3 Bn, witnessing highest contribution from the Asia-Pacific (APAC) region
- The mobile & handheld gaming market in APAC region will be the largest market, procuring more than US$ 50 Bn in revenues by 2026-end
- While the mobile & handheld gaming revenues in APAC region will surge rampantly at 12.4% CAGR, North America will also showcase revenue growth at more than 9.5% CAGR
Prominent game developers such as Activision Blizzards Inc., Nintendo Co. Ltd., Sony Corp, and Electronic Arts Inc. are profiled in the report as key players in the global mobile & handheld gaming market. Joining them are companies such as NVIDIA Corp, Microsoft Corp., Ubisoft Entertainment SA, King Digital Entertainment, Plc., Supercell Oy, and The Walt Disney Company (Disney Interactive).
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Mobile & Handheld Gaming: Key Market Trends
Virtual Reality (VR) is observed as the latest trend hitting the global mobile and handheld gaming market. Game developers investing in technologies for development of VR games is a key indicative that the future of mobile & hand-held gaming. Growing popularity of VR-enabled smartphones & mobile phones and rising awareness of VR headsets are also paving way for development of groundbreaking games.
Impact of eSports is also observed as a key trend favoring the growth of mobile and handheld gaming market. Considering its benefits in the games from both developer and gamer, demand for eSport gaming is expected to advance further among mobile phone users, now that leading eSports networks such as ESPN and Fox Sports have directed their content through digital gaming platforms which offer real-time live-streaming features.
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Additional Highlights of the Report include:
- Within the platform for handheld gaming consoles, gaming software will account for the largest chunk of global revenues – nearly 58 % share – towards the end of 2026
- In 2016, smartphones accounted for over US$ 30 Bn revenues in the mobile and handheld gaming market
- The report also observes Android as the dominate OS for mobile and handheld gaming, revenues from which are expected to surge at 10.9% CAGR
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