Mobile and Handheld Gaming Market projected to reach USD 20,981.5 Million by 2030, growing at a CAGR of 13.8% during the forecast period of 2023-2030 – professed by MarketDigits in its recent study

The Global Mobile and Handheld Gaming Market was valued USD 8,448.7 Million in 2023 and projected to reach USD 20,981.5 Million by 2030, growing at a CAGR of 13.8% during the forecast period of 2023-2030

Richmond, Feb. 08, 2024 (GLOBE NEWSWIRE) — According to a research report “Mobile and Handheld Gaming Market”, By Platform (Handheld Game Consoles, Smartphones, Tablet, Others), Operating System (iOS, Androids, Others), and Region – Global Forecast to 2030″

Global Mobile and Handheld Gaming Market Report Scope:

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TOC Covers in Depth & Breath on Mobile and Handheld Gaming Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

The mobile and handheld gaming market has experienced remarkable growth in recent years, establishing itself as a dynamic and profitable segment within the gaming industry. Driven by the widespread adoption of smartphones and tablets, along with technological advancements, mobile gaming has become a dominant force, attracting a diverse range of players. The accessibility and convenience provided by mobile devices have expanded the global gaming audience, enabling users to enjoy immersive gaming experiences. Major app stores like Apple’s App Store and Google Play serve as crucial platforms for the distribution of a wide array of mobile games, spanning from casual titles to graphically intensive, high-end games. Additionally, the market has seen the emergence of subscription-based gaming services, further driving the growth of mobile gaming by offering users access to a variety of games for a fixed monthly fee. Simultaneously, the handheld gaming market has transformed with the introduction of innovative devices like the Nintendo Switch. This hybrid console, capable of both handheld and traditional console gameplay, has gained substantial popularity, appealing to a diverse gaming audience. The handheld gaming market is characterized by a blend of traditional handheld consoles and powerful smartphones that boast advanced gaming capabilities. As technology continues to progress, incorporating features such as augmented reality and virtual reality, the mobile and handheld gaming market is dignified for further expansion. The ongoing use of 5G networks is anticipated to enhance the gaming experience by reducing latency and facilitating smoother online multiplayer interactions. With its diverse gaming options and growing user base, the mobile and handheld gaming Market remains a vibrant and competitive landscape, constantly evolving to meet the evolving demands of the global gaming community.

Major vendors in the global Mobile and Handheld Gaming Market are

• Electronic Arts Inc.
• Gameloft.
• GungHo Online Entertainment Inc.
• KABAM GAMES INC.
• King.com Ltd.
• Microsoft
• Nintendo.
• NVIDIA Corporation
• Rovio Entertainment Corporation.
• Supercell
• Take-Two Interactive Software Inc.
• Ubisoft Entertainment
• Ubisoft Entertainment. and Others.

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Increasing Adoption of Smartphones and Tablets

One of the primary drivers for the global mobile and handheld gaming market is the increasing adoption of smartphones and tablets. This driver has developed gaming dynamics, democratizing the availability of interactive entertainment on an unprecedented scale. Smartphones and tablets have raised these devices beyond communication tools, transforming them into versatile gaming platforms that provide to a wide and diverse global audience. The advanced capabilities of contemporary smartphones and tablets further boost this driver, as these devices effortlessly handle sophisticated gaming applications featuring advanced graphics and intricate gameplay mechanics. This formation has attracted both casual gamers and dedicated enthusiasts, developing a dynamic ecosystem that accommodates diverse gaming preferences. The continual advancement in smartphone and tablet technology, characterized by regular hardware upgrades and software enhancements, ensures users consistently access advanced gaming experiences. As these devices continue to permeate global markets, the widespread adoption of smartphones and tablets emerges as a compelling force, driving the sustained growth and innovation in the Mobile and Handheld Gaming Market, shaping the industry’s landscape, and providing a versatile platform for gaming supporters across the globe.

Market Dynamics

Drivers:

• Technological advancements in mobile device capabilities
• Rising marketing strategies, including influencer collaborations and promotional events
• The widespread adoption of smartphones and tablets

Opportunities:

• Expansion of 5G networks
• Increasing popularity of cloud gaming services
• Collaborations between mobile gaming platforms and popular franchises
• Developing markets with growing smartphone penetration

Rising Demand for Augmented Reality (AR) and Virtual Reality (VR) Integration In Mobile Gaming

A significant opportunity in the mobile and handheld gaming market develops from the rising interest in integrating augmented reality (AR) and virtual reality (VR). As technology progresses, the fusion of AR and VR capabilities offers a transformative gaming experience. Augmented reality enriches the real-world setting by overlaying digital elements, seamlessly blending the physical and virtual realms. In the mobile and handheld gaming context, this integration creates opportunities for players to engage in immersive gameplay scenarios, where digital elements interact with their physical surroundings, elevating the overall gaming experience. The incorporation of VR into mobile and handheld gaming devices signals a change in how users experience games, offering unprecedented levels of immersion and escapism on these platforms. Additionally, AR and VR integration introduces new dimensions to social gaming experiences, allowing players to interact in shared virtual spaces. As the demand for more engaging and interactive gaming content continues to rise, the integration of AR and VR technologies in the Mobile and Handheld Gaming Market enhances the entertainment value for users and provides developers with a compelling avenue to explore and drive the boundaries of gaming innovation.

North America dominates the market for Mobile and Handheld Gaming.

North America stands out as the dominating region in the global mobile and handheld gaming market. North America, due to widespread smartphone usage, a technology-understanding population, and high levels of disposable income. The region, renowned for its technological innovation, claims a mature gaming ecosystem and extensive 4G infrastructure, fostering the popularity of mobile gaming. With major gaming companies, app developers, and a supportive regulatory environment, this region has become a competitive hub, where consumers readily invest in in-app purchases and premium games, propelling market expansion.

The Asia-Pacific region has experienced explosive growth in the mobile and handheld gaming market, driven by its vast population, increasing smartphone adoption, and a rising middle class with growing income. Countries like China, Japan, and South Korea stand out as gaming powerhouses, highlighting esports and mobile gaming. The region’s diverse gaming culture, combined with factors such as affordable smartphones, rising mobile networks, and a societal embrace of gaming as mainstream entertainment, positions Asia-Pacific at the forefront of the global mobile and handheld gaming market.

The Smartphone Segment Is Anticipated To Hold The Largest Market Share During The Forecast Period

In the global Mobile and Handheld Gaming Market, the platform segment comprises various categories such as handheld game consoles, smartphones, tablets, and others. The Mobile and Handheld Gaming Market’s smartphone segment has undergone significant expansion, emerging as a dominant player in the gaming industry. Smartphones, equipped with advanced processors, high-resolution displays, and advanced graphics capabilities, now function as portable gaming consoles, offering a diverse array of gaming experiences. The rise in popularity of mobile gaming apps, spanning both casual and intricate titles, has driven the demand for smartphones as dedicated gaming devices. The industry’s competitive landscape is marked by ongoing technological innovations, strategic collaborations between smartphone manufacturers and game developers, and a growing consumer base seeking immersive gaming experiences. As the sector grows, the smartphone segment is anticipated to play an essential role in shaping the path of mobile and handheld gaming.

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