Online gaming can be referred to the games played through the internet or over a computer network. Online games can be played on devices such as dedicated video game consoles like PlayStations, Xboxes, and Nintendo Switches. The rising internet connectivity, increasing adoption of smartphones, and the advent of high bandwidth network connectivity, such as 5G, have further increased the demand of the gaming market across the globe. In addition, new monetization models and in-game advertisements and sponsorships are expected to offer significant opportunities for the growth of this market.

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A surge in the use of smartphones for online gaming is expected to drive market Growth.
Consumers are increasingly using smartphones for online gaming due to the increasing smartphone penetration and data availability at affordable prices. Smartphones have emerged as one of the most user-friendly mediums for online gaming. The growing use of smartphones and the integration of technologies such as AI, big data, and cloud computing are transforming the online gaming industry. These technologies provide a better gaming experience with improved stability and animations. The COVID-19 pandemic drove an increase in online gaming, as people stayed home and spent much time on entertainment due to the lockdowns and social distancing restrictions. Overall, the pandemic had a positive impact on the online gaming sector. Also, there was a 40% increase in people’s time spent playing online games using smartphones compared to pre-pandemic levels.

Online gaming on smartphones offers the following advantages:
• More flexible gaming than on PCs or gaming consoles
• An immersive experience with technological advances in smartphones
• AR Integration
• Wi-Fi Compatibility
• Cheaper than owning a PC or gaming console.

To provide efficient analysis, Meticulous Research® has segmented this market based on model (free-to-play games and pay-to-play games), genre (action/adventure, sandbox, simulation and sports, role-playing, player vs. player, multiplayer online battle arena, real-time strategy, shooters, racing, puzzlers and party games, survival horror and other genres), revenue stream (advertisements & sponsorships, game publisher fees, media & broadcasting rights, ticket sales and merchandise sales), platform (mobile platforms (smartphone games and tablet games), PC (Boxed/downloadable PC games and browser PC games), console, other platforms) streaming (live streaming, and on-demand streaming) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on platform, the global online gaming market is segmented into mobile platforms, PCs, consoles, and other platforms. In 2023, the mobile platforms segment is expected to account for the largest share of the global online gaming market. The growth of this segment is attributed to the growing mobile user base, ease of access, and growing penetration of smartphones. The increasing monetization in the gaming industry through advertisements posted on smartphone games contributes to the industry's growth. Many tech players are focusing on developing attractive games specific to smartphones due to the increasing user base across age groups.

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One of the determinants of success for leading market players in mobile gaming is understanding the user’s choices, such as preferred game type, gameplay duration, the gender of the player, demography, and location, for example, while commuting to college or office, which can be easily captured from mobile login details. These data are considered to improve user experience by suggesting relevant ads and games. These factors are expected to drive the growth of the mobile platforms segment in online gaming during the forecast period.

Based on geography, the online gaming market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa (MEA). In 2023, the Asia-Pacific region is expected to account for the largest share of the online gaming market. Asia-Pacific is a fast-growing gaming region with endless opportunities for game developers, marketers and strategists. Aside from its enormous user base spanning all age groups, the region is home to various long-established industry players and is a hub for innovation and new trends. Along with the increasing number of smartphone users in APAC, the mobile gaming market value has soared in recent years. This change in gaming accessibility may significantly change the region's gaming landscape in the forecasted period.

The key players operating in the online gaming market are Microsoft Corporation (U.S.), Activision Blizzard, Inc. (U.S.), Apple Inc. (U.S.), Electronic Arts Inc. (U.S.), Nintendo Co., Ltd. (Japan), Capcom Co., Ltd. (Japan), SEGA (U.S.), Rovio Entertainment Corporation (Finland), GungHo Online Entertainment (Japan), Ubisoft Entertainment (Japan), Sony Interactive Entertainment Inc. (Japan), SQUARE ENIX HOLDINGS CO., LTD. (Japan), Gameloft (France), iTechArt (U.S.), Amazon.Com, Inc. (U.S.), and Tencent Holdings Ltd. (China).

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