WELLESLEY, Mass., Oct. 04, 2017 (GLOBE NEWSWIRE) -- Growing adoption of virtual reality and the increasingly widespread use of smartphones is helping to boost the lucrative mobile and wearable game technologies market, which is expected to grow to $65.4 billion by 2021, according to a report by BCC Research. Led by mobile gaming, the market will grow at a compound annual growth rate (CAGR) of 10.9%.
Wearable gaming has become the fastest growing market for the gaming. The mobile gaming market, meanwhile, has witnessed a sudden upsurge due to the emergence of low-cost smartphones with high-end features such as high memory RAM, HD screens and high-quality sensors and processors, resulting in a large number of users joining and playing games, which until recently could only be done on high-end smartphones, according to the report Mobile and Wearable Game Technologies: Global Markets.
Research Highlights
- The wearable gaming market is expected to grow at a double-digit CAGR. Hardware, such as headgear, eyewear, smart glasses and hand wear, makes up almost 65% of the wearable game market.
- Gamers in China and Japan will help boost the growth of mobile and wearable gaming in the Asia-Pacific region.
- While the market in North America is considered to be saturated, revenue will nearly double as Americans tend to spend more on premium games.
- The global market for mobile and wearable gaming is led by Tencent, Supercell, NetEase, Activision Blizzard and Machine Zone.
“The adoption of virtual reality technology and the impact of low cost smartphones have contributed to high demand for games and gaming equipment around the world,” said Michael Sullivan, senior editor, BCC Research. “Also, the contribution to VR tech from major companies—such as Sony, HTC and Google—have made wearable technology the fastest growing market within the gaming industry.”
Biggest Growth Will Likely Come From The Youngest Players
Gamers ages 12 and under are currently the smallest segment of the market, though they will see the fastest growth, in part due to the use of mobile games in classrooms. School-based games increase concentration and focus by making learning fun. Lumikids, Fish School, Flow Free and Habitat the Game are a few of the most popular educational games for kids.
Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.