China Mobile Gaming Market to Witness Expansion in Global Market
The China video gaming industry is the world's largest in terms of revenue and gamers. The dominance of national projects is a fundamental element of the Chinese gaming sector. Organizations across the country are embracing digital transformation throughout the product cycle, notably to improve their production efficiency, as Chinese enterprises prepare to embrace the business prospects presented by global digitalization.
China's mobile gaming sector has surged since the early 2010s. The proliferation of smartphones across the mainland has led to more people using their personal gadgets for daily entertainment, comparable to the rapid rise in mobile payment apps. Aside from their ease and accessibility, several modern smartphones are now more powerful than the average video game console and offer significantly more functionality, establishing them as a viable alternative to more traditional gaming equipment.
China's gaming market is still dominated by mobile games, which account for more than 70% of total revenue of gaming industry and it is expected to reach by Yuan ~ billion by 2026 registering a CAGR in single digits.
Impact of COVID-19
The virus outbreak has resulted in an increase in stock for the video game business almost everywhere in the world. Millions of people have turned to their tablets and cell phones while several countries are under lockdown to stop the spread of the sickness in order to keep their psyches active and engaged.
In fact, the World Health Organization (WHO) joined in on the fun by recommending that individuals play internet games at home to stop the spread of COVID-19. The rise of mobile gaming has provided businesses with an opportunity to work together and engage their customers through mobile advertising as the limits imposed by the coronavirus pandemic lift and the country heals.
Spike In Mobile Game and App Downloads: Since the beginning of 2020, nearly 200 game developers have shuttered across the country. Big organizations gained the most from the COVID-19 with download spike while many mid-sized contenders chased behind.
Increasing Mini Games: The rapid expansion of mini-games played through mobile apps, such as WeChat, without the need to download another app is assisting the gaming industry's growth in China. These minigames, which have a strong social component, are simple to play and have a large following across the country.
Rising Smartphone Penetration: By the end of 2021, 1033.288 million people in China had signed up for smartphones, accounting for more than 80% of the country's population. Given the global average penetration of 66% this ranks China among the world's most developed mobile markets.
Makreo Research and Consulting has published a study on China Mobile Gaming Industry report titled, “China Mobile Gaming Market and Future Forecast to 2026”; the study helps to understand the industry performance in detail and assess future expected performance by considering various macro-economic and industry parameters. The report is the right blend of qualitative and quantitative information. Report also entails company assessment of the major players operating in the market in terms of their business developments and financial performance.
To know more about the research report, click on the below link:
China Mobile Gaming Market and Future Outlook
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China Mobile Gaming Market