According to recent figures, since its launch in 2020, Sony’s PlayStation 5 has sold an estimated 35.80 million units worldwide. Meanwhile, the Xbox Series X – which was also released in November 2020 – has sold an estimated 21.35 million units.
Both of these consoles are the most powerful of their kind, with cutting-edge features that have bumped the gaming experience up multiple levels since the last generation. The revenue they have brought in for Microsoft and Sony is extensive, too, with the Playstation 5 estimated to make Sony 1.8 billion in 2023 alone – three years after its initial launch.
Why, then, are both Sony and Xbox focusing so hard on the mobile market? With the success of the PlayStation 5 and Xbox Series X, it would have been expected that both companies would put all of their focus into the next generation, the next model. But instead, they have committed to mobile gaming, with both companies allocating multiple studios to work on mobile games. Well, to understand why they have done this, it is first important to understand the attraction of mobile gaming itself:
The Rise of Mobile Gaming
Mobile gaming started in 1997, but it wasn’t until the creation of Apple’s iPhone in 2007 that the games grew more diverse, and their popularity began to surge. The reason why they surged is mostly due to the convenience and accessibility of the games that were developed.
For instance, some of the most popular games are known as RPGs, where players can create their own elf character, generate an elf name, and join a team to defeat threats, including orcs, knights, and golems. The games themselves are referred to as “freemium,” meaning they are free of charge, with players only having to pay for advanced features.
With games easy to download and play on the go, as well as providing a good source of entertainment – oftentimes free of charge – it’s no wonder that the mobile gaming market has been surging in popularity.
The Market of Mobile Gaming
Speaking of the mobile gaming market, this is one of the fastest-growing trades in the world. In 2023 alone, the mobile gaming market is projected to reach $252.10 billion, with a CAGR of 7.08% between 2023 and 2027 – which would result in a projected volume of $376.70 billion in just five years.
This makes the mobile games market the biggest video games market by far, with the potential for huge growth as the technology behind mobiles gets better and the developers of RPG games – amongst others – have more to play with. The news that Sony and Xbox are committing to mobile games shouldn’t be a shock, either. Sony’s old counterpart, Nintendo, has already managed to tap into the mobile gaming market, with the Nintendo Switch – which mirrors the convenience and simplicity of mobile gaming – having made 125 million units as of 2023.
With their mobile games, however, Sony and Xbox will be looking to go further. As mentioned before, the mobile gaming market is the biggest video games market in the world, and with Sony and Xbox invested in capitalizing, it is only set to grow even bigger.