Mobile gaming revenue fluctuates, with RPGs and strategy games leading despite a post-pandemic dip.
In 2023, the global revenue from in-app purchases in mobile games reached $76.7 billion, marking a 2% decrease compared to the previous year. This decline was slower than in 2022, yet the revenue was still 22% higher than in 2019.
For the year 2024, it is projected that global mobile gaming revenue will recover to 78 billion, and by 2028, it is anticipated to surpass 100 billion, with an average annual growth rate of about 6.8%.
The United States maintained its position as the highest revenue generator in the global mobile gaming market, with a substantial 22.2 billion in 2023, holding steady from the previous year and marking a 33.5 billion by 2028.
China's iOS mobile gaming market has also shown stability, with in-app purchase revenues reaching $15.1 billion in 2022. The trend suggests a solid base for future growth within the Chinese market.
In contrast, Japan and South Korea experienced declines in their mobile gaming revenues in 2023. Japan saw a 13% decrease to 12.5 billion, while South Korea′s revenues fell by 7% to 4.8 billion.
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Casual and hybrid casual games have witnessed significant growth, with titles like "MONOPOLY GO!" and "Egg Party" leading the charge. The expenditure on casual mobile games has been on the rise year over year, while the revenue share of mid-core to hardcore games has been slowly contracting.
In 2023, global casual mobile game revenues grew by 8% to $28.6 billion, accounting for 38% of the total mobile gaming revenue. Notably, the hybrid casual gaming segment shone brightly, with revenues surging by 30% to over $2.1 billion.
Card games and puzzle mobile games have also seen an increase in revenue. Standout games like "MONOPOLY GO!" and "Royal Match" have contributed to an 18% and 10% revenue growth in their respective categories, both hitting the $10 billion mark.
RPGs and strategy games remain the highest-grossing categories in mobile gaming, bringing in 20 billion and 14.8 billion respectively in 2023. However, as the economic benefits of the stay-at-home trend during the pandemic gradually fade, revenue from mid to hardcore mobile games such as RPGs, strategy, and shooter games has started to decline.
The concept of the metaverse has started to influence mobile gaming , with several developers integrating virtual world experiences into their titles. Companies like Meta and Epic Games are investing in creating more immersive and interconnected virtual spaces that are accessible via mobile devices. This trend is expected to grow as technology advances, potentially leading to a new revenue stream within the mobile gaming sector.
Cloud gaming is also gaining traction, with services like Xbox Cloud Gaming (formerly known as Project xCloud) and NVIDIA's GeForce NOW offering mobile gamers the ability to stream AAA titles directly to their devices. This could expand the mobile gaming market to audiences traditionally focused on console or PC gaming.
Augmented Reality (AR) and Virtual Reality (VR) mobile games are seeing increased interest due to technological advancements in mobile hardware. Games like "Pokémon GO" continue to perform well, and new AR titles are being developed to capitalize on this engagement model. VR experiences, while less common on mobile due to hardware constraints, are expected to grow with the advent of more powerful and accessible mobile VR headsets.
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Social features and multiplayer capabilities are becoming increasingly important in mobile games, as they encourage community building and repeat engagement. Games that offer cooperative or competitive gameplay, along with social networking features, are seeing higher retention rates and increased in-app purchases.
Mobile e-sports are on the rise, with competitive games like "Mobile Legends: Bang Bang" and "PUBG Mobile" leading the charge. Tournaments are attracting significant viewership and are becoming more sophisticated, with substantial prize pools and corporate sponsorships.
This growth is expected to continue as mobile devices become more capable and networks like 5G reduce latency, making mobile gaming an even more viable platform for competitive play.
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Hyper-casual games, characterized by their simple mechanics and quick gameplay loops, remain a dominant force in the mobile gaming market. These games are often free-to-play and rely on advertising and in-app purchases for revenue. They serve as an entry point for non-gamers and have a broad appeal due to their ease of access and minimal time commitment.
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In response to the saturation of the free-to-play market, some developers are exploring subscription models that offer players access to a library of games, exclusive content, or an ad-free experience. Similarly, in-game passes, such as season or battle passes, provide players with a roadmap of challenges and rewards, encouraging continued engagement and monetization over time.
Cross-platform playability is becoming a more common feature in mobile games, allowing players to interact with or compete against users on consoles and PCs. This not only enriches the gaming experience but also expands the user base for developers. Games that offer cross-platform capabilities tend to have higher player retention as they provide a more flexible gaming environment.
As mobile gaming becomes more global, developers are focusing on localization and culturalization to tailor their games to different regions. This involves not just translating the language but also adapting content to meet cultural norms and preferences. Such efforts can lead to increased adoption in international markets and a more inclusive gaming experience.
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There is a growing niche for educational and "serious" games that are designed to teach or train users while providing entertainment. These games are being used in schools, corporate training, and for personal development, and their popularity is likely to increase as the technology and design of such games improve.
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