5G to play a vital role in making the mobile gaming industry biggest by 2030.
The mobile gaming industry is undoubtedly growing at an immense speed that no individual, whether esports players or streamers, ever expected to happen. The revenue generated just from mobile gaming is more than PC and console gaming combined, and this has to do with the fact that it is accessible to everyone, anytime and at any place.
A recent report by GlobalData shows that the mobile gaming market is expected to become a $272 billion industry by 2030. This has to do with the fact that the 5G revolution is not too far, and new processors and improved display technologies are making mobile platforms more game-ready than before.
A promising report
GlobalData’s latest thematic report, ‘Thematic Research: Mobile Gaming,’ reveals that the industry will record a compound annual growth rate (CAGR) of 11% over the ten years. Here’s what Rupantar Guha, Associate Project Manager for Thematic Research at GlobalData, had to say:
“Mobile gaming is already bigger than the console and PC gaming markets combined, contributing nearly 57% of global video games revenue in 2020. The growing maturity of streaming (supported by 5G), cloud gaming services, and mobile esports – combined with the fact that mobile platforms are close to technical parity with PCs and consoles – means most gamers will embrace mobile gaming in the next few years. As a result, it will continue to account for the lion’s share of the global video games revenue over the next ten years. The ‘other video games’ category includes revenues generated by games played on PCs, consoles, handheld controllers, VR headsets, and cloud gaming services. The revenue forecast does not include revenues from esports.”
In addition to this, a bunch of prominent video games developing companies such as Activision Blizzard, EA, Riot, and more, have also jumped in with the mobile version of their popular PC titles like League of Legends: Wild Rift, Apex Legends Mobile, etc. They are trying to compete directly with the mobile gaming industry leaders like Tencent, SEA, and Perfect World.
Moving forward with mobile
Considering the increasing trend, even the mobile manufacturers have focused on making their devices perform better in terms of gaming experience, and a number of gaming-centric smartphones like the ASUS ROG Phone have been released globally.
Also, 5G will undoubtedly be the most significant development that will push the mobile gaming scene to another height. Primarily because of the faster speeds in comparison to 4G. On top of this, the development of mobile-based cloud gaming services and augmented reality (AR) games, with the ability to support one million devices within a single square kilometer, will push players more towards multiplayer mobile games. This development can also boost the growth of mobile esports.