We already know that mobile games revenue and usage is up due to the ongoing pandemic. Today, we got a new report from the popular analytics company Newzoo. According to it, the global games market will generate $159.3 billion in revenue in 2020, that’s a +9.3% year-on-year increase. One of this year’s growth drivers is an increased interest in gaming due to lockdown measures.
Mobile games revenue will reach $77.2 billion this year
All gaming platforms are increasing, however, mobile gaming saw the biggest increase. As the headline read, mobile games revenue will reach $77.2 billion in 2020. That’s a +13.3% year-on-year growth. Based on the report, there are many reasons that contributed to this number. One of them is that mobile gaming has the lowest barrier to entry, almost everyone got a smartphone and most mobile titles are free. Also, many players headed to mobile gaming after the closure of PC cafes. On the development side, creating games for mobile is less complex than creating games for PC or Console, that’s why there’s no risk of delays or disruption — which is hard during these tough days.
Furthermore, the company expects 2.5 billion new mobile games to join this year which only 38 percent of them will pay for games. Back in 2019, global games market was $145.7 billion and $159.3 billion in 2020. Next year, it will reach $174.2 billion while in 2022 it will reach $187.8 billion. Global game market will rise and exceed $200 billion by the end of 2023. The next generation of consoles will contribute to the growth but mobile gaming will continue to be the fastest-growing platform overall.
What about other platforms?
As you can see in the infographic above, mobile games revenue in 2020 accounted for 48% of the global market. PC revenue will reach $36.9 billion with +4.8% year-on-year growth. Consoles will generate $45.2 billion in 2020, that’s a +6.8 percent year-on-year growth. That’s all for Newzoo’s new report, for more analytics and reports, click here.