In 2024, the mobile gaming industry is poised to continue its meteoric rise, with projections estimating global revenue to reach a staggering US$98.74 billion. This article delves into the intricate tapestry of the mobile gaming market, examining its revenue forecasts, the top revenue-generating countries, and the key players shaping the industry’s landscape.
Global revenue projection and growth trends
The mobile gaming market is on a trajectory of robust growth, with an anticipated compound annual growth rate (CAGR) of 6.39% from 2024 to 2027. This steady expansion is expected to propel the market volume to reach US$118.90 billion by 2027, underscoring the enduring popularity and economic significance of mobile gaming worldwide.
Top 5 revenue-generating countries
Expanding on the top revenue-generating countries in the mobile gaming market, China leads the pack with a staggering revenue of US$34.66 billion, showcasing its dominant position in the global gaming landscape. Following closely behind, the United States contributes significantly with revenues reaching US$19.61 billion, underscoring its status as a key player in the industry. Japan, renowned for its rich gaming culture, commands a substantial revenue of US$16.77 billion, further solidifying its position as a major market. South Korea, celebrated for its innovation in gaming technology, generates notable revenue of US$6.12 billion, highlighting its influence in the global gaming arena. Germany rounds out the top five revenue-generating countries with revenues totaling US$1.61 billion, emphasizing Europe’s contribution to the mobile gaming market.
Besides, Vietnam emerges as a burgeoning force in the mobile gaming industry, witnessing exponential growth in both downloads and in-app purchases, with the average revenue per user (ARPU) in the Mobile Games market being US$29.36 in 2024. With a youthful and tech-savvy population, Vietnam presents a lucrative market opportunity for gaming developers, fueled by its rapidly expanding smartphone user base and increasing disposable income. This surge in Vietnam’s mobile gaming sector underscores the country’s potential as a key player in the global gaming landscape, with analysts predicting continued growth and investment in the coming years.
Top 5 leading companies in the mobile gaming sector of April 2024
As of April 2024, Nintendo reigns supreme as the foremost gaming company by market capitalization. Headquartered in Kyoto, Japan, Nintendo is renowned for its innovative video games and gaming consoles, commanding a market cap of US$59.56 billion. Trailing behind Nintendo is Electronic Arts, with a market cap of US$34.83 billion, showcasing the enduring influence of established players in the industry.
However, the mobile gaming landscape has also witnessed the rise of newcomers, exemplified by Roblox Corporation. Initially, an indie gaming company, Roblox made waves in the market upon its public trading debut in March 2021, boasting a market cap exceeding US$37 billion. Despite encountering fluctuations, Roblox Corporation remains a formidable contender in the global gaming arena, with a market cap of US$23.89 billion as of April 2024.
Conversely, industry stalwart Activision Blizzard experienced a tumultuous journey, marked by litigation and corporate acquisitions. Once a dominant force in the market, Activision Blizzard faced a decline in value, culminating in its acquisition by Microsoft in January 2022. Despite these challenges, Activision Blizzard rebounded, attaining a market cap of US$67.06 billion by early 2023, underscoring the resilience of established players in navigating industry upheavals.
Conclusion
The mobile gaming market of 2024 is a dynamic ecosystem characterized by robust revenue growth, diverse global markets, and a spectrum of industry players ranging from established giants to burgeoning newcomers. As the industry continues to evolve, stakeholders must stay abreast of market trends and seize opportunities for innovation and growth in this ever-expanding landscape.