The Growing Mobile Gaming Industry: Trends, Impact of COVID-19, Key Investments, and Emerging Startups

Over the past ten years, the online gaming industry has grown significantly. The ease of use and accessibility of online gaming are major contributors to its success. Online gamers are currently increasing four times faster than overall internet users. Gamers all over the world are spending more of their free time online due to increased bandwidth and connectivity.

Competitive gaming events have become more common as a result of online gaming's explosive expansion and rising popularity. A number of social media platforms, including Facebook and Twitter, now provide free-to-play online multiplayer games. A user-immersive experience is provided by online video games, in large part because of advancements in gaming technology and software. Mobile internet gaming has increased as a result of more people owning smartphones and cheaper mobile data. Additionally, the market is expanding as a result of the growing integration of cutting-edge technologies like cloud computing and AR/VR, which have improved customers' gaming experiences.

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Increasing eSports Players: People across the globe are now taking huge interest in esports that has accelerated the global esports market significantly. Increasing awareness about esports is also playing a noteworthy role in driving the global esports market. Moreover, large-scale investments in esports are also expected to drive this market.

Increasing Demand for Mobile Games: According to a research study conducted by a market research firm, “Mobile gaming is the fastest growing segment in the online gaming market with the lowest barrier in entry and less room for delays in developing and processing due to Covid19, proving to be a more cost-effective opportunity for developers, gamers and publishers alike. The market for mobile games is anticipated to expand by USD 107 billion during 2023-2028.

Impact of COVID-19 over the Online Gaming: After COVID-19 was discovered, the gaming business faced a number of difficulties and experienced an extraordinary rise in consumer demand during the COVID-19 pandemic. In contrast to a 12% increase in digital video traffic and a 20% increase in web traffic, the American telecommunications giant Verizon recorded a 75% spike in online gaming traffic during peak hours. WeForum stated that during the COVID-19 epidemic, sales for the two Asian gaming behemoths Nintendo (Japan) and Tencent (China) surged, with Tencent's online game revenue increased by 31% year over year.

Key Investments in Gaming in the Recent Past

• Tencent funded USD 90.0 million in Pocket Gems and USD 126.0 million in Glu Mobile (for a 14.6% share).
• Supercell spent USD 5.0 million in Redemption Games, Boom Fantasy raised USD 2.0 million from ESPN and the MLB, and Gamelynx raised USD 1.2 million from several investors, including Riot Games. Ubisoft has purchased a 70% interest in Green Panda Games to strengthen its position in the hyper-casual gaming industry.
• Goldman Sachs' private equity investment arm announced a USD 200.0 million investment in Voodoo, a hyper-casual mobile game company, in May 2018.
   

Emerging Number of Gaming Startups

• Drop Fake

It’s a remote-first games company founded in 2021 and is located in United States. The company aimed to create free and fair, cross-platform strategy game. The business wants to create strategy genre that encourages authenticity, emotion and diversity so that players can have inclusive gaming experience .

• Forte

Forte, a blockchain-based platform for NFT application development was founded in 2019 and is located in San Francisco. For in-game monetization and player engagement, it enables game developers to include blockchain and NFT technology. It has a reward based community platform as well, where players can participate with other players and trade in-game virtual assets. It also offers funds for game creators.

• Dappers Lab

It’s a Canadian company founded in 2018. it has developed many games which includes KittyVerse which enable the player to create and play third-party games, Cryptokitties, which allows users to collect and breed digital cats. Cheeze Wizards is another game where players compete in tournaments by fighting.

• Dream Games

The company is a developer of mobile-based casual games, founded in 2019 and headquartered in Sisli, Turkey. It offers a puzzle game named "Royal Match" where players earn rewards by competing with each other. The game is available on platforms like Android and PC. The company earns through in-app ads. 

"Game on: A closer look at the ever-growing world of mobile gaming."

• Mobile Gaming Market Report (2023-2028)- Global Trends and Forecast by Source, Gamers Population, Expenditure on Gaming, and Regional Break-Up

• China Mobile Gaming Market Size and Future Outlook (2018-2028)

• Asia-Pacific Mobile Gaming Market – Assessment of China, Japan, South Korea and India (2018-2022)

• India Mobile Gaming Market Size and Future Outlook (2018-2028)

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