$120 Billion = $120,000,000,000 i.e. ₹89,25,43,80,00,000 at current exchange rate. Do you get where I’m going with this beginning? The mobile gaming industry is now one of the most rewarding fields in the coming future.
It is great to see that the spending on mobile games has increased 20% from last year and now the companies are all set to solidify a new benchmark.
The rise from $100B to $120B in one year is a great feat that was achieved mainly due to the influence of the pandemic. With people being captured inside their homes for long times, gaming was an escape and developers took this opportunity with both hands.
Mobile remains the most popular form of gaming, with the sector on track to capture 1.5x the overall market.
The CEO of a leading gaming company said, “The world has forever changed. While people stay at home across the world, we saw mobile habits accelerate by three years”. Easy-to-play games like Among Us and Roblox dominated downloads.
Old games like Monument Valley and Gerena Free Fire noticed a significant surge in players. People are inclined to play mobile games. A similar trend was observed in 2019 when spendings broke the $120 Billion mark.
The forecast suggests that mobile gaming will account for $272 Billion in the industry by 2030. This potential has led many new developers and designers to work harder than ever.
They are innovating rapidly to provide the best form of entertainment. A new study on mobile-based entertainment stated that people love spending time playing rather than watching series/films. The level of engagement on gaming screens is quite high that provides better satisfaction.
Read more: PS Plus Free Games For September 2021
Big companies like Amazon and Netflix are considering focusing on providing online mobile games on their OTT platforms to take advantage of their immense user base.
Gaming on the go is already bigger than console or PC gaming by manifolds. It accounted for 57% of the $173bn global video games revenue in 2020. This percentage is growing exponentially and will reach 70% in the next five years.
So, the news that mobile gaming expenditure is about to breach the $120B mark is not that surprising. Noted economists anticipates this rise many years ago.
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How Can You Take Advantage Of This Great Rise?
If you are a developer or like video games and think about getting into this business. This is a perfect time. The field is evolving and you can rely on the wave of acceptance for initial growth. We recommend that you start with small games, like the ones that brands use for promotions.
It will get your business rolling in no time as companies are lining up to advertise in better ways. The revenue in this market is huge. Channel the money earned into mainstream games.
Also Read: 10 Delightful Indie Games To Enjoy Game Time
It is important to concentrate on the content of mobile games rather than fixating on one genre. There are many battle royale games out there already but there is a huge gap when it comes to single-player adventure games or multiplayer quest games.
As the spending this year on mobile gaming reaches a new mark, think about how you can capitalize on this latest news. Pitch great ideas to investors and show them the future. If you can, try exploiting VR and AR!