Mobile Gaming Market Could Hit $269 Billion by 2032, Research Shows

Over time, mobile gaming has become increasingly popular both among the competitive players and the casual gamers. It’s the most accessible form of gaming in the world, boasting a hugely diverse array of games and an evolutionary path that’s seeing mobile games becoming dramatically advanced at a rapid pace. It has recently been estimated in a report published by Allied Market Research that the mobile gaming market could reach a monumental value of almost $270 billion by 2032.

In 2022, the global mobile gaming industry generated a staggering $90.6 billion in revenue. It’s expected to ramp up to a CAGR of 11.7% from 2022 to 2032, hitting lofty heights of approximately $269.8 billion as a result of epic growth. In this in-depth, scrupulous report – which is a whopping 381 pages in length – the drivers of this growth are highlighted. It was encouraging to see that mobile esports took centre stage as one of the most lucrative opportunities in the industry.

Read on to learn everything about this report.

Mobile Gaming Can’t Be Stopped

As technology becomes more elegant and evolved, mobile gaming is surpassing all previously held expectations and beliefs. Once upon a time, mobile gaming was a stigmatised, mocked topic, but today, it’s a world that’s effortlessly proving itself able to overcome ‘traditional’ gaming markets with ease. In the report published by Allied Market Research, it was stressed that mobile gaming makes up more than a quarter of the global gaming revenue – which is massive considering the most popular mobile games are free to play.

Last year, the boundaries of technology were pushed even further with the release of the iPhone 15, which set a new benchmark for mobile devices. With the iPhone 15 in hand, gamers found themselves able to play – in great quality – AAA blockbuster titles. In Allied’s report, it was highlighted that the evolution of AR and VR technology is helping to further the mobile-focused cause.

It’s a remarkable thing, especially when you consider that most mobile games cost nothing to download and play. For the most part, the money made by mobile games can be attributed to the microtransaction-backed operating models that they run. It’s a common enough sight in the mobile games industry, and while it’s not appreciated by everyone, it’s generally an accepted concept.

Mobile Esports On Top
In the world of mobile esports, tournaments being played on handheld devices are showing that they’re mightier than those played on traditional PC or console platforms. In 2021, the Free Fire World Series pulled in a peak viewer count of 5.4 million, and last year, the M5 World Championship racked up a concurrent viewer count of 5.06 million users. In the past, the PUBG Mobile Global Championship has hit staggering heights, pulling in 3.8 million concurrent viewers.

For those who can’t afford or obtain a high-end gaming PC or a brand-new console, a mobile phone represents a much more readily available way to break into competitive gaming. That’s why some of the best mobile games (which are typically free) see download numbers in the hundreds of millions. It’s taken as seriously as traditional esports that are played on a keyboard and mouse or a controller-based setup, and as the mobile gaming market grows, so too does the mobile esports market.

Could we see a paradigm shift in the next few years as technology is sharpened and more games (such as VALORANT Mobile and Rainbow Six Mobile) are released?

For more mobile gaming news, stay tuned to Esports.net