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Mintel Predicts Industry is Heading for a $3 Billion Stateside Boom
CHICAGO (June 23, 2005)— Mobile gaming has become an increasingly hot area of cellular phone revenue, climbing to $200 million in 2004. Additionally, mobile gambling is increasing its stake in the U.S. at a rapid rate, according to Mintel International’s recent report on cellular phones. Mobile gaming refers to video games played on cellular phones. Mobile gambling describes cellular phone activities that are similar to online gambling.
A popular activity in Europe and the Asia-Pacific region, mobile gambling is projected to generate $3 billion in revenue in the U.S. in 2009. Still, mobile gambling will account for only 1.5% of mobile industry revenues, according to Mintel’s forecast. The U.S. casino gambling market generated revenues of $48.3 billion in 2004. This market is predicted by Mintel to reach $70.6 billion in 2009. Mobile gambling forecast revenues for 2009 equate to more than 4% of this predicted casino gambling revenue.
“This is really an untapped profit center for companies that produce gaming content, as well as wireless carriers,” said Erik Thoresen, research analyst for Mintel. “Cell phones are rapidly growing in their functional capabilities. This industry stands to receive a major boost when it is partnered with cell phone technology.”
The cell phone industry has experienced a significant boom within the last five years, reaching $113 billion last year in service subscriptions and handset sales alone. Internationally, the number of cell phone users will surpass 2 billion this year.
“Mobile gambling is driven by the same sort of innovation that is growing ringtone downloads and mobile movie previews,” said Thoresen. “Cell phone technology is able to integrate within the context of our culture, due to increasingly more sophisticated technology. Many Americans are turning to their mobile phones for entertainment.”
? This Press Release relates to the following Mintel Report: Mobile Phones - US - May 2005 ??? About MintelMintel is a worldwide leader of competitive media, product and consumer intelligence. For more than 30 years, Mintel has provided key insight into leading global trends. With offices in Chicago, London, Belfast and Sydney, Mintel's innovative product line provides unique data that has a direct impact on client success. For more information on Mintel, please visit their Web site at http://www.mintel.com/.
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