Video games have come a long way since the early days. Games today are incredibly immersive and realistic, with stunning graphics, award-winning storylines, and engaging gameplay.
Mobile gaming has proved incredibly successful over the years. The idea of having a games console in our pockets with games available 24/7 is something that has captured the imagination of gamers today. Is mobile gaming as popular as it once was, or does it need to be re-energised? Find out here.
Mobile Gaming: The Stats
Smartphones today are sophisticated, powerful devices, with far more functions and capabilities than the computers of yesteryear. They can do an incredible number of things and have rapidly become indispensable tools in our everyday lives.
Mobile gaming is nothing new, who doesn’t remember playing Snake on their old Nokia phone? However, it’s only through the power of today’s smartphones that the mobile gaming industry has been able to succeed as it has.
According to projections, there will be approximately 2.32 billion mobile gamers across the world by 2027. This figure is almost unbelievable, that’s a significant segment of the world’s population.
It’s unsurprising, then, that the industry is incredibly lucrative. The mobile gaming market value is expected to surpass $286 billion this year.
The Market Dip in 2022
Mobile gaming seemed to be on an endless upward trajectory. However, towards the end of 2022, the market faltered and recorded a fall in revenue for the first time in 10 years.
Why did this happen? As with any market fluctuations, identifying a single root cause is difficult, even impossible. Instead, it was likely the result of a number of different factors that all contributed towards the dip.
Mobile games come in all shapes and sizes. There are multiplayer games, puzzle games, platform games, war games, and many, many more. However, despite the range of options on offer, the industry slowed at the end of 2022, which caused alarm bells to ring.
Global economic conditions will have certainly played a part. Rising energy and food costs, a result of inflation, saw people tighten their belts and cut back on spending, particularly on entertainment like games.
Additionally, digital advertising costs have been skyrocketing, which has seen developers forced to cut costs, impacting the games produced.
Another likely cause of the dip was the lifting of lockdown restrictions. During lockdown, mobile gaming boomed as people turned to their phones to pass the time. By the end of 2022, almost all restrictions were lifted, so the popularity of mobile gaming saw a natural fall from this high.
Will Mobile Games Make a Return?
The dip in the mobile market was a cause for alarm, with many investors worried it could indicate that the mobile gaming bubble was about to burst.
However, the mobile gaming industry is resilient and has already shown signs of recovery. People still use their phones for a number of things, so they’re always going to have games just a few clicks away. This has boosted the confidence of both developers and investors and has helped buoy the market through troubled times.
The release of several huge mobile gaming titles this year has also helped the industry recover. A mobile version of Final Fantasy VII, a Pokemon Trading Card Game, and Call of Duty Warzone have all been eagerly awaited by mobile gamers and are a clear indication that the industry is as strong as ever.
Conclusion
Mobile gaming’s revenue decline at the end of 2022 was unexpected, but the industry has quickly recovered and looks well on its way to reaching new heights. Mobile gaming doesn’t necessarily need to be re-energised, but it’s important that we remember it’s as vulnerable to peaks and troughs as any other industry.
