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Augmented Reality and Virtual Reality is fastest growing segment fueling the growth of Mobile Gaming Market

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naufan003
Augmented Reality and Virtual Reality is fastest growing segment fueling the growth of Mobile Gaming Market

Market Overview:

Mobile gaming provides an engaging and interactive gaming experience to users on the go. Advantages such as ease of accessibility and availability on multiple platforms have boosted the popularity of mobile gaming.

The mobile gaming market is estimated to be valued at US$ 91.08 Bn in 2023 and is expected to exhibit a CAGR of 10.39% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The integration of augmented reality and virtual reality into mobile games is one of the key trends witnessed in the mobile gaming market. AR and VR enhance immersion and realness of game environment which attract gamers. For instance, games like Pokémon Go utilize location services and AR technology to place Pokémon characters in real world locations for users to find and catch using their mobile devices. The realistic environment offered through AR and VR is fueling this trend in the market. Do not write anything about key players event though data is provided. Do not write conclusion anywhere in the output.

Segment Analysis

The global mobile gaming market is dominated by the mobile casual gaming segment, accounting for more than 60% share of the overall market in 2022. The casual gaming segment comprises games like puzzles, arcade, card/casino, and board/table that can be played within a short span of time. Easy accessibility, simple gameplay mechanics, and free-to-play business models have propelled the popularity and growth of casual games on mobile platforms.


Key Takeaways

The Global Mobile Gaming Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing internet penetration and access to high-end smartphones globally. Consumers are spending more time on mobile gaming as compared to other entertainment apps, thereby driving investments of gaming companies in mobile platform.


Regional analysis: Asia Pacific dominated the global mobile gaming market in 2022, accounting for more than 50% share. Countries like China, India, and Japan exhibit higher mobile gaming adoption rates due to the presence of young tech-savvy population and availability of affordable smartphones. North America and Europe are other key markets for mobile gaming, driven by live operations of popular franchises on mobile platforms.


Key players: Key players operating in the mobile gaming market are Activision Blizzard, Inc., Electronic Arts, Inc., Gameloft SE, Niantic Inc., Glu Mobile, Inc., GungHo Online Entertainment, Inc., Kabam, Rovio Entertainment Corporation, Supercell Oy, The Walt Disney Company, and Zynga, Inc. Market leaders like Tencent and Activision Blizzard are investing heavily in developing innovative AR/VR-based games to enhance gameplay experience for mobile users.


Get more insights on this topic:

https://www.dailyprbulletin.com/mobile-gaming-market-insights-trends/



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