Farmington, May 08, 2023 (GLOBE NEWSWIRE) -- The Mobile and Wearable Gaming Market size was valued at USD 71.6 billion in 2022 and is projected to reach USD 171.05 billion by 2030, growing at a CAGR of 11.50% from 2023 to 2030.Key factors driving the growth of this market include the The expanding prevalence of mobile phones, Free-to-play Concept of the pricing.
A mobile phone is a portable electronic device with cellular network connectivity. By improving its performance, display, and specifications, mobile phones contribute to the growth of the gaming industry. The majority of mobile game developers choose the free-to-play pricing model due to its unlimited potential and free availability. This allows players to evaluate a game before deciding whether to invest time or money, resulting in increased revenue.
Request sample copy of report Mobile and Wearable Gaming Market Size, Share & Trends Estimation Reports By Type Outlook (Virtual Reality, Facial Recognition, Voice Recognition, High-Def Displays, Wearable Gaming, Gesture Control, Others), By Application Outlook (Tablets, Smartphone, Handheld Console, Others ), By User Type Outlook (Individual, Commercial), By Age Group (Below 15 Years, 15-30 Years,30-45 Years, Above 45 Years), By Region and Forecasts, 2023 - 2030. published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
The Mobile and Wearable Gaming Market is segmented by type into Virtual Reality, Facial Recognition, Voice Recognition, High-Definition Displays, Wearable Gaming, Gesture Control, and Others.
Age Group Outlook:
On the basis of age category, the global wearable gaming market is segmented as follows: below 15 years, 15–30 years, 30–45 years, and 45 years and older. Due to the increasing popularity of video gaming and online gaming among adolescents and young adults, the 15–30-year-old demographic is anticipated to account for the largest revenue share over the forecast period, driving revenue growth in this segment.
User Type Outlook:
On the basis of user type, the global market for wearable gaming is segmented into the individual and commercial sectors. Individuals are anticipated to account for the largest revenue share due to the growing demand for virtual reality video games among children and adults, as well as the growing awareness of the availability of various VR accessories including bodysuits, headsets, and mittens.
During the forecast period, the revenue of the commercial space segment is anticipated to grow at a rapid CAGR. This segment is growing due to the prevalence of gaming zones and the increase in the number of arcades and gaming zones. Global LAN gaming centers are proliferating as the prevalence of multiplayer computer games continues to rise.
Application Outlook:
By Application, the market is segmented into the Tablets, Smartphone, Handheld Console, Others. In contrast to laptops, which must be tethered to an electrical outlet, tablets can be transported anywhere, which has contributed significantly to their popularity. Tablets are suitable replacements for smartphones and laptops due to their superior visual and audio capabilities. A handheld console is a portable gaming system. It has an average screen size of approximately 3 inches (8 cm). It is frequently played while traveling or at home. It is also known as a handheld system, handheld gaming device, and portable game console.
Regional Analysis:
In 2022, North America had a relatively larger revenue share of the global mobile and wearable gaming market than other regional markets. Due to rising demand for wearable gaming accessories, the presence of a large consumer base, the increasing popularity of video games and online games, and the rising demand for wireless VR headsets, North America is anticipated to continue to account for a larger revenue share than other regional markets over the forecast period. In addition, the increasing adoption of cloud computing in the gaming industry and the rising prevalence of VR cloud games, as well as the increasing adoption of 5G-enabled VR headsets in countries in the region, contribute to the market's revenue growth.
According to the report, Due to the rising popularity of casual and hyper-casual games, the increasing Internet penetration and number of smartphone and connected device users, and the growing prominence of e-sports in the region, Asia Pacific is anticipated to experience the highest revenue growth during the forecast period. Additionally, increasing investment to develop 5G infrastructure and rising demand for 5G connectivity, accelerated adoption of smartphone-connected headsets, and growing interest in VR/AR-enabled games are anticipated to continue to drive revenue growth in the Asia Pacific market.
It is essential to take into account the specific local factors when analysing the Mobile and Wearable Gaming Marketin each region, as market conditions and trends can vary significantly from region to region and even from country to country.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 11.5% from 2023 to 2030. |
| Revenue Forecast by 2030 | $171.05 billion |
| By Type |
|
| By Application |
|
| By Age Group |
|
| By User Type |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
There are a number of challenges that could slow the expansion of the global Mobile and Wearable Gaming Market. Among the most important constraints are:
High costs associated with the design and development of gaming accessories High costs associated with the design and development of gaming accoutrements and wearables, as well as a lack of standardization for the design of head-mounted displays, are anticipated to restrain the growth of the global wearable gaming market over the forecast period. This makes them accessible to a small portion of customers and is anticipated to impede the development of the global wearable gaming technology market over the forecast period.
Opportunity Analysis:
A number of promising new avenues for development and expansion exist in the international Mobile and Wearable Gaming Market. Consider a few of the most promising prospects:
Technological advancement Major market participants in the gaming industry utilize modern technology to maintain their positions. In September of 2020, Sony Interactive Entertainment LLC, a Japanese video game and digital entertainment company, released PlayStation 5, a highly anticipated next-generation gaming console. SIE also announced new enhancements for PS5TM games including Final Fantasy XVI, Fortnite, Hogwarts Legacy, and a new God of War game.
The prevalence of increasing numbers of series games and virtual reality games The global adoption of virtual reality (VR) and wristwatch gaming applications is optimistic for the future of the gaming industry. Significant market potential is created by the increasing prevalence of series games, VR-based games, and the number of mobile game players worldwide. Smartphone consumers and Internet/broadband adoption will increase mobile and wearable gaming globally. The advertising and promotion of motion pictures through video games is a crucial business strategy for reaching a large audience.
Key Segments Covered:
Top Market Players:
- Sony Corporation
- Ubisoft Entertainment
- COLOPL Inc.
- CD PROJEKT S.A.
- Glu Mobile Inc.
- DeNA Co.Ltd.
- Netease Inc.
- Microsoft
- King.com Ltd.
- Everywear Games
- Machine Zone Inc.
- Gameloft
- Electronic Arts Inc.
- CyberAgent
- Gungho Online Entertainment
- Com2Us
- Activision Blizzard
- Capcom Co.
- KABAM GAMES
- Tencent
- Nintendo
By Type
- Virtual Reality
- Facial Recognition
- Voice Recognition
- High-Def Displays
- Wearable Gaming
- Gesture Control
- Others
By Age Group
- Below 15 Years
- 15-30 Years
- 30-45 Years
- Above 45 Years
By User Type
- Individual
- Commercial
By Application
- Tablets
- Smartphone
- Handheld Console
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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