LogInAnalytics firm GlobalData predicts that the mobile game market is set to grow by almost 2.5 times reaching $470 billion by 2030 which will represent over 50% of global gaming market revenues.
GlobalData has released a new report suggesting that mobile games will represent over half of gaming industry revenues in 2030. According to the analytics firm, mobile games already dominate the gaming market in terms of revenue and it will keep growing in the coming years.
The report reads that the value of the game market amounted to $197 billion in 2021 and the firm's analysts expect it to grow by almost 2.5 times reaching $470 billion by 2030. They also note that mobile games will represent over 50% of global gaming market revenues.
The analysts claim that the mobile game market already has the biggest share of global video game revenue surpassing PC and console game markets combined. According to the report, in 2021, the mobile game market made up 57% of global video game revenue, and its dominance is set to continue in the future.
The report reads that while the mobile game market will dominate in terms of revenue, cloud gaming is set to be the fastest-growing segment in the industry. According to the firm's forecast, it is set to grow from around $2 billion in 2021 which made up 1% of global video games revenue to over $30 billion by 2030 (6% of the global video game market revenue).
You can learn more by reading the full report here. Also, don't forget to join our Reddit page and our Telegram channel, follow us on Instagram and Twitter, where we share breakdowns, the latest news, awesome artworks, and more.