AD

Mobile Games Take Over The Global Videogames Market

The global videogames sector continues to be dominated by mobile games.

By the end of 2020, the number of players of mobile videogames is expected to hit 1.6 billion, and this makes it the sector with the highest revenue for the global videogames market.

Enlightening new information has it that the value of the mobile games sector is expected to reach a mammoth $55.3bn in 2020, meaning that it’ll amount to 60% of the general revenue from videogames in 2020.

The Rise of Mobile Gaming

The number of people playing and spending money on mobile games witnessed an astronomical rise in the past few years, thanks to aspects like the ‘freemium’ model of mobile games and casino apps from new slot sites.

Mobile games have had their fair chunk of the gaming sector for a few years - the sector was valued at $44.2bn in 2017 and that amounted to around 58% of the total global revenue from videogames that year, as Statista revealed. Two years after that, there was a huge leap in this figure, taking it to a whopping $49bn in 2019, which is up to 60% of the entire gaming revenue from all over the globe.

According to statistics, the growth will continue for the foreseeable future at least and the revenue for the global videogames market will keep growing at an annual growth rate of around 2.1% - hitting $60.2bn by 2024.

It’s also predicted that the average revenue per user is predicted to hit $35.17 for the mobile sector this year. This figure will apparently experience a small drop that’ll take it to $32.67 in the next four years. But between 2020 to 2024, the number of users of mobile games are anticipated to increase by around 50 million per year.

When compared, the gaming networks sector will have an average revenue per player of $26.39 in 2020. This is followed by the online games at $22.08 and downloadable games at $15.54.

Geographically, 57% of the mobile gaming revenue in 2020 will come from China and the United States.

Based on the geographical analysis, the leading mobile games industry at the moment is China, which is set to hit a value of $21.2bn in 2020. This figure is also expected to go up by about 2 billion by 2024.

Second up is the United States, whose mobile gaming industry is currently expected to hit $10.7bn profit this year. By 2024, it is expected to hit $11.2bn and above.

Japan comes third with mobile games revenue of $6.8bn in 2020. The fourth position is taken by South Korea and the fifth by the United Kingdom at $2.3bn and $1.5bn revenues in 2020, respectively.