WATCH: Mobile games spark 60% of 2019 global game revenue
JOHANNESBURG – The gaming industry realised significant profit for the gaming industry globally, according to a report by GoldenCasinoNews.com.
The statistics have shown that the global video games market generated $83 billion income in 2019, with a forecast to reach $95.3 billion value by 2024.
According to GoldenCasinoNews.com research, mobile games represented the most substantial segment of the entire video games market in 2019 that generated $49 billion in revenue.
The study found that mobile games made up 60 percent of revenue for the global video game market in 2019 and a profit of $16.9 billion. The mobile gaming market is forecast to grow 2.9 percent annually to hit $56.6 billion by 2024, per the research.
The report states that the number of mobile gamers was 1.36 billion worldwide last year, with 36 percent of mobile gamers between the ages of 25 and 36. It said the percentage of users who played mobile games would rise to 22.5 percent by 2024 — more than 1.7 billion people worldwide — up 18.6 percent last year.
China was the biggest market for mobile games in 2019 with $18 billion in revenue, followed by the US at $9.9 billion and Japan at $6.5 billion, according to the report.
Insight from Mobile Marketer:
Mobile platforms have become the most significant segment of the video game industry as smartphones expand the gaming market beyond consoles and personal computers. As GoldenCasinoNews.com's research indicates, mobile's role in the broader gaming industry will continue to expand over the next few years amid a shift toward more sophisticated gaming apps on mobile devices.
A separate study by Sensor Tower found that mobile games were especially popular during the holidays, with consumer spending rising 8 percent to $210 million on Christmas Day.
Mobile platforms have driven growth in “hyper casual” games that appeal to people who don't consider themselves hardcore gamers. The number of hyper casual games surged 170 percent in 2019 from a year earlier, more than three times the gaming industry average, while downloads jumped 150 percent, according to an AppsFlyer study.
The growing popularity of free mobile games funded by in-game advertising can help marketers reach consumers in a brand-safe environment. The percentage of free-to-play mobile games with this type of advertising grew to 94 percent last year from 87 percent in 2018 as more developers sold ad space to monetize their content, per a study by game marketing firm deltaDNA. Rewarded video ads, which unlock game content in exchange for watching an ad, were the most popular ad category as deployment rates rose to 82 percent of games in 2019 from 65 percent a year earlier, per deltaDNA.