Not just fun and games: How mobile games have become big business

MOBILE games are now dominating the gaming industry, with companies finding fresh ways to milk revenue from consumers.

But while the segment has become a force to be reckoned with, industry players have also noted that the ease of spending can easily lead to mounting costs for these consumers – an issue that regulators are increasingly concerned about.

In 2023, the mobile gaming market was worth around US$108 billion globally, with the segment comprising the bulk (56 per cent) of total worldwide consumer spending on video games, based on a report from mobile market data provider data.ai and IDC.