The pandemic has led to a surge in mobile gaming, with app-based games experiencing a remarkable increase in revenue globally, according to data from App Annie. The improvements in the graphics, storyline, and gameplay of these games, as well as their wide range of options, are behind this surge. In-app purchases have become the primary source of revenue for app-based games, accounting for 72% of all app revenue generated in 2020. The leading app-based games publishers include Tencent, Activision Blizzard, Electronic Arts, and Zynga. The app-based gaming industry is expected to continue growing rapidly and reach over $90 billion by 2023, and the integration of Augmented Reality technology is transforming the app-based gaming experience.
Mobile Gaming Takes Over
Introduction
The pandemic has brought a significant surge in mobile gaming over the past few months. According to data, app-based games have witnessed a remarkable increase in revenue globally.
Revenue Surges in App-Based Games
Recent data shows that app-based games have experienced a surge in revenue in the past year. In fact, App Annie, a leading mobile data and analytics firm, estimated that consumer spending on app-based games increased by a staggering 25% in 2020 compared to the previous year.
Factor Behind the Surge of App-Based Games
The tech advancements and improvements in these games are the major factors behind the surge of app-based games. Developers are continuously improving the graphics, storylines, and gameplay to provide an unparalleled user experience. Furthermore, app-based games provide a wide range of gaming options suited for different ages and preferences, making them more appealing to a larger audience across the globe.
The Rise of In-App Purchases
In-app purchases have become the primary source of revenue for app-based games. Players can buy virtual goods, upgrades, and gaming currency, allowing them to advance at a faster pace in the game. These in-app purchases have become so popular that they account for 72% of all app revenue generated in 2020.
Key Players in the App-Based Gaming Industry
The app-based gaming industry has seen the inception of different game developers, with some emerging as frontrunners in the market. The market-leading app-based games publishers include Tencent, Activision Blizzard, Electronic Arts, and Zynga, among others.
The Future of App-Based Gaming
The future of app-based gaming looks promising, with projections indicating that the market will continue to grow rapidly. Global revenues from app-based games are expected to reach over $90 billion by 2023 according to a report by Newzoo, an industry analytics firm. Additionally, the integration of Augmented Reality (AR) technology has already started to transform the app-based gaming experience, with games such as “Pokemon Go” and “Harry Potter: Wizards Unite” utilizing this technology.
Conclusion
The surge of revenue in app-based gaming over the past year has become a significant industry trend, prompting game developers to innovate and improvise, thus improving user experience. With the advent of new technologies and the ever-growing pool of game enthusiasts, it is clear that mobile gaming is poised for continued growth and an exciting future.