The biggest market share in the gaming industry?

It’s no secret that the gaming industry is one of the most popular and successful entertainment industries in the world. The oft-cited data that gaming has surpassed both the movie and the music industries is not something to be ignored.

But what exactly in the gaming industry is making all the money? In this article, we’ll be delving into the segments within the industry that have garnered the biggest market share in terms of its success. We’ll also be discussing the reasons we think these aspects of gaming have enjoyed so much success.

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With that, let’s start talking about which segment has the biggest market share in the gaming industry.

What are the facts?

According to gaming statistics compiled by FinancesOnline.com, the worldwide gaming market revenue in 2020 saw the Mobile gaming segment as the number one money-maker with a whopping $85.3 billion in sales and revenue.

Following behind is Console gaming, which garnered a cool $51.2 billion, and in next place is PC gaming which got $37.4 billion respectively.

Now that’s a lot of money.

But it’s not a surprise why mobile has taken such a huge lead in terms of gaming’s money-making side. Now more than ever, mobile gaming has achieved such ubiquitous status that the numbers seem just right.

But what exactly about mobile gaming has made it become so successful in the gaming space and grab that “biggest market share” spot in the industry?

We have some ideas.

The rise of the smartphone

One of the most obvious reasons why mobile gaming now has the biggest market share in the gaming industry is due in large part to the emergence of the modern smartphone as an essential tool for the average person.

Smartphones have become such an integral part of everyday life that it’s more unlikely for you to find a person without one in today’s age.

And with more people having smartphones, you have more people who have the capability of playing mobile games. Compared to console or PC gaming, where you have to have a dedicated system to play a game, smartphone users normally buy their phones for the communication part of the device. It just so happens that smartphones these days can also reliably play good mobile games.

Micro-transactions, micro-transactions, micro-transactions

Another big reason why mobile gaming revenue is so large is because of micro-transactions.

For the uninformed, micro-transactions are in-game purchases you can make to obtain certain bonuses in a game, such as cosmetic items, skins, abilities, free spins or extra lives, and the like.

The micro-transaction model has become so popular that it allows gamers to bypass the amount of legwork they would normally have to get through to achieve certain things in a game. Of course, this is only the case if they have the cash to cough up. And, as we’ve seen in the past few years, people certainly do have that cash.

The speed and accessibility of the internet

Last, but certainly, not least is because the internet is so powerful these days that it’s incredibly easy to download mobile games on your smartphone. Gone are the days of dial-up internet where you had to wait for hours to download certain files. These days, you only need to wait 30 seconds to a minute to download a perfectly good mobile game.

With it being that easy, it’s no surprise why mobile gaming has such a big market share. The accessibility and ease of use of getting mobile games, compared to buying games for your console or PC are unmatched, making it easy to understand how mobile games have become so popular over the years.

The internet also allows you access to a vast library of mobile games that you can try out and play. If before, you’d have to hunt game stores if they have stock of a game you want, now you’ll only need to go to an app store’s search box, type up a particular game, and then boom! There you have the game.

Mobile gaming is just super accessible and the most beginner-friendly option out there and it’s not even close.

With that, we’ve discussed what the biggest market share in the gaming industry is. Mobile gaming, at this current time, is the king of gaming market share and we’ve seen that it’s no surprise why. But who knows, maybe a new trend will pop up in a few years or so. For now, though, mobile gaming is the biggest and most financially successful type of gaming there is.