Mobile gaming market is expecting 254M new users by 2024

by Ragid Hallak

The mobile gaming market is huge, yes we all know that. But, today we got new insights and predictions about it. The industry could entertain around 1.735 billion users worldwide by 2024 according to Kryptoszene.de. If we look at 2017, there were only 1.170 billion mobile gamers.  Although there’s an outbreak (coronavirus), the gaming industry is steadily increasing.

Mobile games market users will rise by 17.2% by 2024

According to a new infographic by Kryptoszene.de, the mobile gaming industry could entertain around 1,7 billion users worldwide by 2024 producing  revenue of US$56,7 billion. In 2017, there were only 1,37 billion mobile gamers spending around $44,2 billion. The demographics of mobile gamers vary when we talk about age. Gamers between 25 and 34 years old make about 36% which makes them the biggest group. However, mobile games are really popular among users between 35 and 44 years old. When it comes to gender, female gamers account for 37% of the mobile games market.

Mobile Games Market

A part of the infographic

Based on a survey conducted at Game Developers Conference, 60 percent of developers still see a high potential in PC gaming. However, despite the current crisis, the data predicts the mobile gaming industry further growth. Gaming developers demonstrate a tendency to rely more and more on Mobile.

“There are many indicators that the gaming industry will continue to grow”, said Kryptoszene analyst Raphael Lulay. “The demand for mobile applications continues to rise – across all age groups and generations. The fact that more and more females become interested in mobile gaming can also play into the hands of game developers”.  

Gaming stocks are holding better than others

COVID-19 affected everyone on this planet, however, the data from the research shows that the industry has suffered less than others. For example, DAX has suffered a decline of 37% while Dow Jones lost about 21% in value. Here are the approximate losses in market prices of selected gaming companies in the last four weeks:

  • TakeTwo Interactive stocks Minus 4%
  • Nintendo Stocks Minus 13%
  • Ubisoft Stocks Minus 15%
  • Activision Blizzard Stocks Minus 17%
  • Electronic Arts Stocks Minus 19%

In the end, we can say that the mobile gaming market will rise and the industry overall is more popular than before because of the pandemic.

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