Research from Gartner indicated that money spent on these products worldwide would exceed $5.6 billion (£3.88 billion) during this year, representing a 19 per cent jump on 2009 figures.
Furthermore, the market for mobile gaming is forecast to reach $11.4 billion by 2014.
Gartner also revealed that handset vendors are looking for improved technology to include in mobile products such as touchscreens, which might interest some optoelectronics firms.
Earlier this year, Young Fast Optoelectronics announced it was to increase its shipments of capacitive touch panels due to increased demand for smartphones across the world.
At the start of this month, the company said it was to begin a joint venture with Ritek to focus on this area of production.
Gartner said that downloadable games account for around 70 to 80 per cent of all mobile consumer applications and it expects that figure to remain high in the near future.
