Every person, even those not particularly keen on gaming, has faced the names Sony, Nintendo, and other console giants at least once in their lives. It is true that for decades, these brand names have dominated the gaming market. They are starting to lose their leadership positions due to the rise of mobile gaming. According to Newzoo’s Global Games Market Report 2024, the total value of the global gaming market was about US$187.7 billion. Mobile gaming accounts accounted for almost half of this volume. Additionally, Statista reports that mobile gaming revenue now exceeds US$100 billion, which is twice that of the console industry. The global gaming market is presented in the table below, according to the previously mentioned sources.
| Platform | Global Revenue | Market Share |
| Mobile | US$103–110 bln | 49–60% |
| Console | US$50–55 bln | about 28% |
| PC | US$40–45 bln | about 23% |
This article will examine the reasons behind the rapid change in the market's leading players in more detail. Additionally, regarding future trends that will influence it.
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This state of affairs was inevitable. As mobile phones improved, their functionality evolved, transforming a simple means of communication into an entertainment centre. Now, the average smartphone is quite capable of running top games such as Genshin Impact, PUBG Mobile or Honour of Kings. In addition, any gamer can play from anywhere they want — there is no need to stay at home and pay more for a console. For example, in 2023, approximately half of Internet users played games on their smartphones. And that was half of the total user base — 3.5 billion people worldwide.
Regarding changing user behaviour, it's worth noting that mobile games, due to their accessibility, reach age groups not typically targeted by consoles — seniors, public transportation commuters, and casual gamers.
Some other factors played into the hands of the global trend:
The combination of these factors has made mobile games the new economic core of the global entertainment industry.
Console manufacturers strive to maintain their market positions by experimenting with portable hybrids and cloud streaming. Still, the mobile gaming market is advancing rapidly. This is helping mobile game developers save significant time. For example, according to PC Gamer's 2024 report, console revenue grew by just 0.3% year-over-year, while mobile gaming revenue increased by 3-5%.
One more point for mobile phones is the aforementioned technical advancements. Each premium smartphone now features a graphics processor that rivals those found in entry-level consoles.
Furthermore, engines like Unreal Engine 5 and Unity make it easy for developers to port high-quality games across platforms. Add to this 5G, which seamlessly supports real-time multiplayer, and mobile gaming no longer requires compromise — it's all about convenience.
Consoles are where gaming history lives — mobile is where gaming’s future is being written. Perhaps console producers will create something new that will become a global leader; only time will tell. Still, the current situation suggests that the era of consoles is rapidly becoming a thing of the past, making way for mobile gaming.
