An Overview Of The Global Mobile Games Market And The Growth of VR & AR
May 26 2018
The latest update shows that 2.2 billion gamers across the globe are expected to generate $108.9 billion in game revenues in 2017. This represents an increase of $7.8 billion, or 7.8%, from the year before. Digital game revenues will account for $94.4 billion or 87% of the global market. Mobile is the most lucrative segment, with smartphone and tablet gaming growing 19% year over year to $46.1 billion, claiming 42% of the market. In 2020, mobile gaming will represent just more than half of the total games market. The PC and console game markets will generate $29.4 billion and $33.5 billion in 2017, respectively.
An Overview Of The Global Mobile Games Market:
Mobile gaming will generate $46.1 billion this year, or 42% of all global game revenues. More than three-quarters of this, or $35.3 billion, will come from smartphone gaming, with tablet games accounting for the remaining $10.8 billion. Tablet unit sales have plummeted over the years, but with 280 million tablets used actively, the segment contributes significantly to the success of mobile games. The console gaming segment performed better than expected in 2016 thanks to console manufacturers, publishers, and consumers embracing of a variety of digital business models. Microsoft and Sony generated more than $14 billion in combined revenues from first-party games, third-party game fees, and subscription revenues. In 2017, we expect console gaming to generate a total of $33.5 billion in revenues worldwide, of which 65.8% digital.
The Growth of VR & AR:
The virtual reality(VR) and augmented reality(AR) revolution is in its infancy still with a huge growth expected in the next few years.
AR is expected to acquire 1 billion users by 2020. AR is not just limited to entertainment; its applications extend to education and business as well. According to ISACA (the Information Systems Audit and Control Association) survey, 64% US consumers believe that augmented reality enhancements would benefit workplace by facilitating remote participation in workplace learning and development.
As expected, gaming one the most benefited industry from augmented reality. Games like PokemonGo have proved the potential of augmented reality quite clearly. By 2025, the worldwide user base of AR and VR games is expected to grow to 216 million users and will be worth 11.6 billion U.S. dollars.
Our lastest news reported that mobile AR could become the primary driver of a $108 billion VR/AR market by 2021 (underperform $94 billion, outperform $122 billion), with AR taking the lion’s share of $83 billion and VR $25 billion.
Sources: NewZoo, Forbes.