WiseGuyReports.com adds “Smart Phone/Tablet Games Global Market Report 2022” reports to its database.
New York, NY -- (SBWIRE) -- 12/04/2019 -- Smart Phone/Tablet Games Market:
The smartphone/tablet games market consists of sales of video games played on smart phones/tablets. The revenue for these companies is generated from the in-app-purchases, in-game advertisements (such as google AdSense, Ad-Mob, Media.net etc.), sponsorships and sales of merchandise. The market is segmented into various gaming genres such as shooting, action, sports, role-playing, adventure, racing, fighting, strategy and others.
The global smart phone/tablet games market was valued at about $15.45 billion in 2018 and is expected to grow to $23.46 billion at a CAGR of 11.0% through 2022.
The smartphone/tablet games market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The APAC market is the largest market for smartphone/tablet Games and is expected to continue to be the largest market during the forecast period.
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Due to an increased emergence of affordable gaming smartphones/tablets in the market, the smartphones/tablet gaming industry is rapidly increasing. The new affordable gaming mobile/tablet devices are better than the previous generation devices in terms of cost and performance that makes the games run in better FRP (Frames Per Second) providing an enhanced gaming experience. For example, many Chinese smartphones have entered into the market under $500 range which are offering technologically advanced gaming experience like Xiomi Mi 8 Pro ($469), Xiomi Mi 8 ($389), Xiomi Pocophone F1 ($319), Honor 9 ($320) and others.
The major roadblock to this booming industry is the illegal downloads and pirated versions of the games, thereby causing serious concerns for the original developers of the game. The revenue loss is significantly high due to illegal downloads, as people never pay to the original developers of the game. For example, Subway Surfers, one of the most popular games may have lost close to $91 million due to pirated versions.
Augmented Reality (AG) and Virtual Reality (VR) are the two new technologies that are positively impacting the smartphone/tablet games market. Both the technologies offer exciting gaming experiences to the users. Augmented reality gaming combines visual and audio content with the user's current environment in real time, thereby making them enjoy the unique gaming experience. Whereas the Virtual reality games apply three-dimensional (3-D) artificial environment to the computer games. These two technologies have been appreciated by the gaming community, proven by the rise in AR and VR based games downloads. For example, Pokemon Go, an AR game has been downloaded more than 800 million times, making it the most downloaded game. Niantic Labs, developer of Pokemon Go game announced their intention to create an augmented reality map of public spaces using the help of players and startup Escher Reality. The company has also raised $225 million in the funding round and is now focused on developing more AR based games.
Due to the rising concerns from parents about their children being exposed to inappropriate content on video and games, regulatory bodies in the UK have come up with age restriction policies. Pan European Game Information (PEGI) is a statutory European video game content rating system in Europe. The gaming industry is bound to comply with new European privacy rules such as General Data Protection Regulation (GDPR). This regulation would allow the users to gain more knowledge on the type of information collected while playing online, or while purchasing products and services. China's gaming industry is now being regulated by Central Propaganda Department. The department has curbed the entry of new foreign gaming publishers into China. It can now only be done through prior permission.
In July 2018, Niantic has completed the acquisition of LA-based game studio, Seismic Games, for an undisclosed amount. This acquisition would help Niantic in a transition to build all-new Augmented Reality (AR) games with real-world experiences. Seismic Games is involved in developing social games. It created the famous game RPG Marvel: Strikeforce. The company was established in 2011 and is headquartered in Los Angeles, California.
Major players in the market are Tencent Hold, Sony, Electronic Arts, Nintendo and Netmarble.
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