Not just fun and games: How mobile games have become big business
Mobile gaming is booming as companies find new ways to get consumers hooked – and to open up their wallets
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MOBILE games are now dominating the gaming industry, with companies finding fresh ways to milk revenue from consumers.
But while the segment has become a force to be reckoned with, industry players have noted that the ease of spending can easily lead to mounting costs for these consumers – an issue that regulators are increasingly concerned about.
In 2023, the mobile gaming market was worth around US$108 billion globally, with the segment comprising the bulk (56 per cent) of total worldwide consumer spending on video games, based on a report from mobile market data provider data.ai and IDC.
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