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Tuesday, July 16, 2024

Mobile Gaming Market Revenue to Reach $92.6 Billion in 2023

Mobile gaming market is one of the biggest sector from the gaming industry across the world. While there were speculations about the lesser contribution of mobile gaming to the overall market, the reports over the past few years have shown a particularly different trend. Recently, a report was released by NewZoo, a company that analyses and monitors gaming data. It has shown some interesting insights of the market in 2023.

INSIGHTS OF THE GLOBAL MARKET – MOBILE GAMING TAKING THE LEAD

The global gaming market revenue is estimated to reach an enormous number of $187.7 Billion. That makes the gaming market a sector generating substantial revenue for a region on an yearly basis. In comparison to the figures that were observed last year, it is seen that the global market has achieved a growth of 2.6% on YoY (Year-on-year) basis.

Furthermore, the mobile gaming division will be responsible to generate almost half of this revenue with an estimate of $92.6 Bn in revenue generation globally. The console gaming has also contributed largely with a 30% revenue generation out of the entire market.

Console gaming will also be the one with highest YoY growth rate of 7.4%, making it an interesting market to delve into for many video game and content creation companies. It is also interesting to note that mobile gaming is the biggest contributor to the entire gaming market.

The global games market has also shown some peculiar growth trends with MEA (Middle east and Africa) zone showing the biggest YOY growth this year. Furthermore, the Asia Pacific region accounts for about 46%o f the entire revenue generated, making it the biggest gaming market in terms of revenue around the worldf

The NA region comes right behind the Asia-Pacific and the two biggest contributors in the gaming market are China and USA with a cumulative revenue generation of $92.6 Bn.This revenue is purely calculated on the basis of spend-analysis method considering just the amount of revenue generated from game distribution, in-game sale and subscriptions. The amount does not consider any kinds of third-party revenues and other markets here.

FORECAST FOR 2026

Talking about the forecasted revenue for the next quarter of the decade, Newzoo has predicted that the revenue streams will grow by 2% to reach around $212.4 Billion in 2026.

These are some interesting insights on the global gaming market for the remainder of 2023. Considering the strong revenue generation rates and mobile gaming leading amongst the other branches, it is expected to show a similar trend in the future with revenue growth in mobile gaming.

Divyesh Moghe
Divyesh Moghehttp://www.talkesport.com
Content writer and Esports enthusiast
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