According to a new report from the tech-focused research firm, the Global Mobile Gaming Market is growing at a CAGR of 21.39 percent from 2014-2019.
In 2014, mobile games came second only to console games in terms of market share, and accounted for just over 27 percent of revenue in the Global Video Game Market. Technavio analysts predict that this share will grow to more than 45 percent by 2019.
“Consumers are now reaching for their smartphones and tablets to play games. These devices have diverse connectivity options such as 4G, 3G, Bluetooth, and Wi-Fi, which make them more attractive than laptops, and are helping them catch up with consoles,” says Faisal Ghaus, Vice President of Technavio.
“At the moment, more than 60 percent of users play games on their mobile devices on a daily basis, and nearly 65 percent of the money spent on smartphones and tablets is for gaming purposes.”
The accessibility of mobile gaming is actually resulting in a change in gamer demographics. This has spurred a shift in the focus of vendors such as Kabam, Zynga and Gamevil from traditional sales to virtual goods, subscription-based games, ad-based games, and games as a service.
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Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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