October 05, 2017
WELLESLEY, Mass., Oct 05, 2017 – 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.
“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 Anand Bhandari, BCC Research analyst. “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.
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Mobile and Wearable Gaming Technologies: Global Markets( IFT122A )
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