Another statistical surveying concentrate titled 2019-2026 Global Virtual Reality for Smartphone Market Report (Status and Outlook) discharged by The

Is mobile game development a good business to start?

An Entrepreneur myself, I’m currently responsible for Leading initiatives of Elsner Group, which has forayed into Mobile Gaming industry and has a very strong IT development and Digital Marketing portfolio of clients amongst other successful businesses.

Every business has its own set of challenges. Business success is not based on a fantastic idea, it’s a result of being present at the right place, in the right time, with the right product/service/entertainment to cater market demand.

Time has taught us that even a great idea/model launched ahead of its time can bite the dust even with the best resources at hand.

Non-voice content is expected to grow from 46 minutes in 2011 to an estimated 258 minutes in 2017. (Source) Mobile games contribute greatly to these high growth rates. Mobile and Tablet gaming industry is expected to generate more than 44.2 billion in revenue by 2018.

Adding to this, market has also witnessed an increase in number of gamers “who pay to play”. In U.S. alone 23% of most frequent gamers pay to play online games. This has increased sharply since 2004 when it was just 9%. So you have 20% users who will bring in 80% of the revenue for your projects provided you build your community of gamers. The indicators definitely show a growing trend in market.

It seems like you have comprehended these Gaming industry indicators really well. The strategy you have presented should work and here’s why:

1. Decreasing attention span of Millennials:

Average human attention span in 2015 was calculated to be 8.25 seconds! The average attention span of a Goldfish is 9 seconds! Thank you Smartphones!

Millennials make Mobile Gaming mainstream users. Your strategy should work if you build a lean team and focus on Growth Hacking. (PS: It’s not a certain set of skills, it is a mentality and a learning process – To understand it in detail please refer the Quora question link at the end.)

You would have to be:

  • A Proactive Learner.
  • Aggressive at experimenting.
  • Always ready to take that extra mile to creatively solve a problem.
  • Always ready to solve a problem!
  • Aggressive at experimenting. (Taking calculated risk)
  • Predator like instincts.

It would enable you and your team to:

● Build and test a model faster: Respond faster to market with new products/versions catering to the markets need.

● Be effective: Focused on the things that actually matter and hustle!

● Foster Innovations: Constant pressure to push limits and think out of the box to solve problems will definitely give you your “Eureka Moment!”

All this gives your community of Gamers a lovely reason to follow you i.e, “They keep on coming up with cool things!”

2. Rise of Smartphones in Developing countries:

In 2016, India became the second-largest Smartphone market in terms of active unique smartphone users, crossing 220 million users, surpassing the US market, according to a report by Counterpoint Research. India still has a long way to go as far as market penetration of smartphones are concerned with current market penetration level of 29.8%, growing exponentially with the launch of LTE.

Indonesia has been poised to become the 4th largest smartphone market by 2018. It currently has 69.4 million active smartphone users and is expected to grow to 103 million users by 2018. (Source)

These are ripe new markets with huge number of avid gamers! After Social media and watching videos, playing games comes third in the list of activities Indian smartphone users do the most.

You need to understand the needs and requirements of these markets. Customise UI/UX in a way that appeals to these markets to build a loyal following that grows every year!

3. Advent of powerful Cloud computing:

Reading most of the previous answers, I find people being vary of new teams not being efficient productive and/or continuously innovating new Ideas.

Cloud technology has been regarded as one of the top 5 technology trend for 2016 – 2017 and the above challenge can be countered by it if used effectively with a proper action plan.

Knowing what your audience want needs smooth feedback systems. For effective team management and execution you need effective workflow and communication amongst team.

Its crucial for the success of any Start-up or venture. With the advent of Cloud computing there are ways you can build custom apps for your need in a matter of hours!

It is the most powerful way to increase productivity and ensure delivery within set timeline. In David vs Goliath situations this is what will give your team a competitive advantage, ensuring high productivity.

Another very important fact, for success of a Mobile Gaming venture: It is crucial to know about the trends that would lead this industry in 2017 and coming years.

Pokemon Go was a phenomenon that capitalised on its brand recognition using Augmented Reality, to give its users engagement and experience like no other. Clash of Clans used Social Gamification in a Strategy game that has set records!

Exploring the latest technology and bringing it in front of my audience, in a form they enjoy, is what intrigues me and motivated me towards venturing into mobile gaming industry.

Here are a few major ones you need to keep in view:

  • Freemium Gaming Model: Clash of Clans is one the best examples of a freemium gaming model.
  • Multi-Channel Presence.
  • Virtual Reality/Augmented Reality – immersive experience.
  • Wearables: Enable users to do more with complimenting gaming platform with Wearables.
  • Social Gamification: Gamify your platform and watch the competition rise within platform gamers boosting your platform engagement rates.
  • eSports: Competitive tournaments of Games.

Conclusion:

  • Steadily growing industry.
  • Effective strategy with you.
  • Stream of new Smartphone users in Developing countries.
  • Empowering your team with effective Cloud based solutions.
  • Proactively listening and responding to your target market.

By the points stated above it is evident that Mobile game development is worth pursuing with its own set of challenges. But this is what will craft your company’s Brand Story!

I hope the insights shared above would help you build a sustainable and loved company.

Reference:

– Quora Question Link: What is Growth Hacking?

“Humans have shorter attention span than Goldfish!”

“Trends shaping up gaming towards 2017”