According to a new report by Expert Market Research titled, “South Korea Mobile Gaming Market Share, Size, Report and Forecast 2024-2032″, the South Korea mobile gaming market reached a value of around USD 11.70 billion in 2023. Aided by the widespread prevalence of gaming culture and rapid technological advancements, the market is projected to grow at a CAGR of 7.1% between 2024 and 2032 to reach a value of nearly USD 21.67 billion by 2032.
South Korea, renowned for its cutting-edge technology and high-speed internet connectivity, provides an ideal environment for mobile gaming. The country boasts one of the highest smartphone penetration rates globally, facilitating easy access to a myriad of mobile games across diverse genres. The mobile gaming experience is further enhanced by the rapid adoption of 5G networks, offering gamers faster download speeds and reduced latency, which are critical for real-time and multiplayer gaming experiences. This is expected to result in the South Korea mobile gaming market expansion in the forecast period.
The consumer shift towards mobile platforms, coupled with the increasing popularity of casual and hyper-casual games, has significantly contributed to the market’s expansion. These games, characterised by their simplicity and ability to deliver instant entertainment, are particularly popular among a wide demographic, including both avid and casual gamers.
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Moreover, the integration of mobile gaming with social media platforms has revolutionised how games are played and shared, creating a viral effect that boosts game downloads and user engagement. Social features like leaderboards, live streaming, and in-game chatting capabilities have fostered a community-centric gaming environment, further driving the South Korea mobile gaming market growth.
Another pivotal factor contributing to the growth of the South Korea mobile gaming market is the rise of esports. Mobile esports, once a niche segment, has burgeoned into a mainstream phenomenon in South Korea, drawing substantial audiences and significant investment. Games like “PlayerUnknown’s Battlegrounds Mobile” (PUBG Mobile) and “League of Legends: Wild Rift” are not only popular for casual play but also form the backbone of competitive gaming tournaments that attract millions of viewers.
Innovation continues to be a driving force in the South Korea mobile gaming market. South Korea is at the forefront of several emerging trends, including the use of augmented reality (AR) and blockchain technology. AR games, which blend digital gameplay with the real world, offer immersive experiences that are gaining traction among tech-savvy gamers. Meanwhile, blockchain technology is introducing new ways to handle game assets, allowing players to own and trade digital items securely, which adds a layer of investment potential to the gaming experience. This is expected to accelerate the South Korea mobile gaming market development.
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The rise of “gaming as a service” is another trend shaping the South Korea mobile gaming market. This model focuses on retaining customers by offering continually updated content, rather than releasing new titles frequently. This approach not only helps maintain a consistent user base but also stabilises revenue streams through subscriptions and in-game purchases.
The regulatory environment in South Korea also plays a critical role in the South Korea mobile gaming market dynamics. The South Korean government has implemented various regulations that impact game development and distribution, including the imposition of curfews for young gamers and strict rules against in-game purchases to combat gaming addiction. While these regulations aim to address social issues, they also challenge game developers to find innovative ways to engage users within the constraints set by law.
In conclusion, the South Korea mobile gaming market is set to continue its growth trajectory, supported by technological advancements, a strong gaming culture, and strategic investments by key market players. As mobile technology and game development continue to evolve, the market offers substantial opportunities for both domestic and international investors looking to capitalise on this dynamic market.
Market Segmentation
The market can be divided based on monetisation type and platform.
Market Breakup by Monetisation Type
• In-app Purchases
• Paid Apps
• Advertising
Market Breakup by Platform
• Android
• iOS
• Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea mobile gaming market. Some of the major players explored in the report by Expert Market Research are as follows:
• Com2uS Corporation
• KRAFTON, Inc.
• Netmarble Corp
• NCSoft Corporation
• NEXON Co., Ltd
• Pearl Abyss Corp.
• Kakao Games Corp.
• Webzen Co., Ltd.
• NHN Co., Ltd.
• Actozsoft Co., Ltd
• Others
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