Mobile gaming has blossomed into one of the most impactful, popular, and profitable businesses in the world. Gaming has made in-roads into people’s daily lives and has integrated itself into modern lifestyles all over the world. Recent years have shown huge growth in game genres, gameplays, and monetization models. This has encouraged tremendous growth of business interest and revenue projections from the mobile gaming industry.
According to industry forecasts, the global mobile gaming market will be worth approximately USD 100 billion in annual revenues by the year 2021, even though the majority of the most popular and successful games are free to download.
The growth is broad-based and geography-agnostic. In fact, mobile game revenues in Singapore, Malaysia, Indonesia, Vietnam and the Philippines were slated to reach USD 3.9 billion in 2019 according to a report by the Global Mobile Game Confederation. A projection from Niko Partners puts the revenue number at USD 4.4 billion by 2021. Other growth regions are always emerging, For instance, most popular traditional n games are going online and are redefining the gaming industry abroad too.
This growth is driving up customer expectations, bringing in competition, and challenging long-held assumptions. Game developers are trying to understand the factors driving this growth to determine how to change their strategies to keep up and move ahead.
Traditional games such as poker have found an assured home online. This has paved the way for online poker platforms that are attracting customers in droves. In fact, the popularity is such that 500,000 players have already signed up for real money poker across several online platforms alone
Laws around the legality of money-games such as Poker, Rummy, Teen Patti, and English flush are still being formed but as of now, games of skill and games of chance face no legal bar. Game developers and companies are rushing in to fill the demand.
With the advent of technology and the ubiquity of smartphones, mobile game platforms have evolved too. Now with multiplayer card games becoming all the rage, the gaming industry is cashing in like never before. Online games are no longer limited to two players only, in fact; multiple players can now play at a time. Players are loving how this is making game-play more dynamic and stimulating. In the digital world, this simply eliminates the need for people to physically gather at one place to play games.
Multiple players can now play from different locations and win against the best international competition. The online gaming business has eliminated geographical boundaries. These games are also breaking the barriers of time while making the opponents accessible online anytime, anywhere in a rich virtual world..
With the growing capabilities of the mobiles in the market, the game development companies have been given the opportunity to unfetter their imagination while developing games for the online gaming community. Mobiles are now faster, more intelligent, and with richer displays. The game-play experience can be immeasurably enhanced by leveraging that power. This has given a boost for online gaming companies to innovate more and create immersive experiences that are engaging audiences in creative and competitive games online.
50% of all mobile apps are games. This app category is as popular as music apps. It’s not just installs too. These categories are second only to social media and communications apps in terms of time spent online. Users are spending eight more minutes per day on their mobile devices and by 2021 this number is predicted to increase to more than 30 minutes per day. It’s clear that apps are the new prime time, and games have grabbed the lion’s share of this channel. More users, spending more time online each day. That’s a powerful motivation for gaming companies to tap into
The mobile networks have become faster and this has spurred growth in the mobile gaming business. Great connectivity from anywhere, anytime and easy downloads have encouraged players to seek for more games. People can now play games on-the-go and most of the games are playable on 3G and 4G networks. This allows people who commute for work daily and travel a lot to have some entertainment on the go! The coming of 5G promises to elevate this experience to a whole new level. More bandwidth, greater speed, better availability, and reduced latency could make mobile experiences uber-enriched. And mobile games could reap the rewards in terms of enhanced customer engagement.
Games of chance like Poker and Lotto have made it to the top of the games in app play stores across the Asia markets. The success and the ever-growing popularity of these games online is no longer in question. It is clear that the mobile gaming industry is likely to be the next big growth sector. The task for the companies in this sector is how to acquire new customers, provide them a superior playing experience, and gain their loyalty in the face of extreme competition from other gaming companies. These companies would do well to leverage the power of technology to amp up their online gaming site. It’s what the smart gaming company would do!