Analysis of the Video Games Market: Assessment of Market Size, Trends, Statistics, and Competitors

The popularity of competitive multiplayer mobile games has skyrocketed in recent years. Popular games in the esports scene include PlayerUnknown's Battlegrounds (PUBG) and Call of Duty (COD). These games are played in a multiplayer setting, where players may communicate with one another, leading to greater immersion. In addition, the real-time competitive nature of the multiplayer mode gives players a sense of accomplishment. The addition of microtransactions and character creation tools increases replay value and stickiness. The release of Battle Royale games on mobile devices has greatly aided the business's expansion. The proliferation of cell phones is a major reason why there are more gamers than ever before. The current crop of smartphone CPUs is more than capable of running games with advanced graphics and effects. The increasing availability of high-speed internet worldwide is also a major factor in the expanding market for MMOs. For instance, Activision Blizzard Inc. released Overwatch 2, the second installment in the series, to meet the rising demand for multiplayer games in October 2022. Games have become more visually impressive and technically advanced as developers have increasingly relied on 3D and high-definition visuals, sound effects, Virtual Reality (VR), and Augmented Reality (AR) to bring their worlds to life. They're prettier, which means they can attract more customers. The depictions in video games have improved throughout the years. They seem more realistic because of the high quality of the visuals, detailing, and sound effects. Further, smooth performance results from developments in Graphics Processing Unit (GPU) technology; consequently, a technologically sophisticated GPU paired with a similarly advanced display gives the optimal balance between the two. For instance, the American multinational semiconductor manufacturer Advanced Micro Devices (AMD) introduced its third-generation graphics processing unit (GPU) called "RDNA 3" in November 2022. The introduction is a response to rumblings from Nvidia, another high-speed GPU manufacturer, and direct rival, about the impending release of its RTX 4090 GPU.

Mobile Gaming at the Forefront to Accelerate Growth Status of the Gaming Industry

In 2022, there were 2.7 billion mobile gamers worldwide, and they downloaded 90 billion games. In terms of global in-app purchase revenue in 2022, role-playing games (RPGs) led the pack with a 31% share, powered by massively multiplayer online role-playing games (MMORPGs). Hypercasual, on the other hand, led the pack in terms of downloads, accounting for 29% of all mobile game downloads. Moreover, 55% of mobile gamers are women, 21% of all Android applications, and 25% of all iOS apps downloaded are mobile games. Female players favored puzzle and matching games, while male gamers preferred strategy, sports, and shooting games. Tencent, a Chinese global technology corporation, has expanded its gaming empire over the past few years. In terms of income, it was the largest producer of iPhone game apps in the world in 2021 and third in downloads. In 2022, the company's dominance remained unchallenged. Since the days of Flappy Bird, numerous improvements have been made to the free-to-play model. Play and Own (P&O) is the newest phenomenon in 2023. Games may be played on P&O for free, and users can buy virtual goods and other benefits within the games. As a result, the mobile gaming market is expected to expand throughout the projected period as developers have access to new methods of monetizing their games. Opportunities for growth in gaming markets worldwide are being created by causes such as the proliferation of internet access, the increasing popularity of smartphones, and the advent of high-capacity network connectivity such as 5G. According to the GSMA's research, 7 percent of the world's population will have access to 5G technology by the end of 2021. By November of that year, 170 mobile operators will have launched commercial 5G services. This paved the way for smartphone manufacturers to launch 5G models to consumers.