The Global Smartphone Games Market Set To Reach $97 Billion In 2020

DUBLIN, June 24, 2020 /PRNewswire/ — The “Smartphone/Tablet Games Global Market Report 2020-30: COVID-19 Implications and Growth” report has been added to ResearchAndMarkets.com’s offering.

The global smartphone/tablet games market is expected to grow from $58.3 billion in 2019 to about $97 billion in 2020.

The COVID-19 pandemic is providing an opportunity for mobile gaming and app stores to launch new games as people stay home and spend more time on their smartphones and tablets. Game downloads have increased in the last few months. Along with the young users, the technology adoption has increased even in senior citizens, which is another reason for an increased demand for games during the COVID-19 pandemic. The market is expected to stabilize and reach $130.7 billion at a CAGR of 22.4% through 2023.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider smart phone/tablet games market, and compares it with other markets.

Major players in the smartphone/tablet games market are Tencent, Sony, Electronic Arts, Nintendo and Netmarble.

Due to an increased emergence of affordable gaming smartphones/tablets in the market, the smartphones/tablet gaming industry is rapidly increasing. The new affordable gaming mobile/tablet devices are better than the previous generation devices in terms of cost and performance that makes the games run in better FRP (Frames Per Second) providing an enhanced gaming experience. For example, many Chinese smartphones have entered into the market under $500 range which are offering technologically advanced gaming experience like Xiomi Mi 8 Pro ($469), Xiomi Mi 8 ($389), Xiomi Pocophone F1 ($319), Honor 9 ($320) and others.

Augmented Reality (AG) and Virtual Reality (VR) are the two new technologies that are positively impacting the smartphone/tablet games market. Both the technologies offer exciting gaming experiences to the users. Augmented reality gaming combines visual and audio content with the user’s current environment in real time, thereby making them enjoy the unique gaming experience. Whereas the Virtual reality games apply three-dimensional (3-D) artificial environment to the computer games. These two technologies have been appreciated by the gaming community, proven by the rise in AR and VR based games downloads. For example, Pokemon Go, an AR game has been downloaded more than 800 million times, making it the most downloaded game. Niantic Labs, developer of Pokemon Go game announced their intention to create an augmented reality map of public spaces using the help of players and startup Escher Reality. The company has also raised $225 million in the funding round and is now focused on developing more AR based games.

The major roadblock to this booming industry is the illegal downloads and pirated versions of the games, thereby causing serious concerns for the original developers of the game. The revenue loss is significantly high due to illegal downloads, as people never pay to the original developers of the game. For example, Subway Surfers, one of the most popular games may have lost close to $91 million due to pirated versions.

Due to the rising concerns from parents about their children being exposed to inappropriate content on video and games, regulatory bodies in the UK have come up with age restriction policies. Pan European Game Information (PEGI) is a statutory European video game content rating system in Europe. The gaming industry is bound to comply with new European privacy rules such as General Data Protection Regulation (GDPR). This regulation would allow the users to gain more knowledge on the type of information collected while playing online, or while purchasing products and services. China’s gaming industry is now being regulated by Central Propaganda Department. The department has curbed the entry of new foreign gaming publishers into China. It can now only be done through prior permission.

Majority of the working population is working remotely around the globe. In such scenario demand for feature games and apps is on the rise. Panacea Infotech, leading app development company in US holds expertise in developing utility apps as per your concept with competitive pricing options.

Souce: PR Newswire