Video gaming is one of the fastest-growing sectors in the industry. This segment was among the few businesses that thrived during the outbreak of the COVID-19 pandemic. The video game industry includes the creation, promotion, and monetization of video games. Video gaming comprises different modes of gaming, including console gaming, mobile gaming, and PC gaming.
Mobile gaming is one of the fastest-growing segments in the video gaming industry. This segment registered notable growth in 2020 even though most businesses were affected by the outbreak of the COVID-19 pandemic.
Moreover, growth in mobile users along with the roll-out of 5G/High-speed internet services globally has aided the growth of the mobile gaming segment.
The market size of mobile gaming in the US reached a value of $13 billion in 2021. The mobile video gaming market grew by 20% in 2021 as the demand for mobile gaming increased following the shutdown of outdoor games owing to the pandemic and people globally spent most of their time at home due to the lockdowns.
US ranks third largest player in the global mobile gaming market with a share accounting for 14% of the global market size in the mobile gaming segment.
The US’s mobile gaming market saw a CAGR of 21% during 2017-2021 as it was one of the few industries which had a positive effect due to the pandemic and video gaming industry was one such industry which saw rise in the consumption.
The consumption of mobile gaming was further aided by growth in smart phone users and increased internet penetration. .
The major companies that have a strong presence in the US mobile gaming market include Tencent , Sony, and Microsoft.
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