Mobile games will make up half of gaming industry revenues in 2030, as tech firms continue to pump money into the sector.
According to a fresh report from GlobalData, games played on smartphones and tablets will make up over 50 per cent by 2030. It also predicts that the market will swell to $470bn (£409bn) from $197bn.
Rupantar Guha, Principal Analyst in Thematic Intelligence team at GlobalData, explained that cloud gaming, which involves hosting games in the cloud and streaming them to connected devices, “will fundamentally change the video games industry over the next 10 years”.
Head of Gaming at Fieldhouse Associates Max Daniels told City A.M. that he was unsurprised by the figures.
“Mobile’s success in gaming isn’t just down to the profit that can be generated through adverts, subscriptions or buying in-game assets like premium currencies,” he said. “Accessibility is also a huge factor at play.”
Firms likes Microsoft have all been pushing to create gaming offerings in the mobile space: shifting away from consoles and towards cloud gaming.
In January, the tech giant signed a monster deal to snap up Call of Duty maker Activision Blizzard for $68bn ($50bn).
Amazon spends nearly $500m in game development according to Bloomberg, while Facebook owner Meta has doubled down on building a metaverse gaming world.