Mobile gaming is expected to generate $98.7 billion in revenue globally this year, with Asia leading the market at $65 billion.
Xsolla, a global video game commerce company, released the prediction in its Autumn 2024 edition of its quarterly report on The State of Play.
The report provides insights, trends, and opportunities shaping the gaming landscape, empowering industry professionals to adapt and thrive in today’s rapidly evolving market.
Regions like Africa, Latin America, and the Middle East are also emerging as key players, reflecting the sector’s increasing global influence, the report said.
The report also highlights the rising importance of web shops, with 77% of players making purchases through these direct-to-consumer online stores, emphasizing the growing popularity of these channels.
The report also spotlights women in gaming and the increasing equality in gaming, noting that 87% play mobile games weekly, and 64% make in-app purchases. As this demographic grows, companies are responding by developing more inclusive and engaging gaming experiences.
“The Autumn 2024 Edition of ‘The Xsolla Report’ offers a clear look at mobile trends, emerging payment solutions, impact of women in games, and the continuous regulatory shifts shaping the future,” said Berkley Egenes, chief marketing officer and chief growth officer at Xsolla, in a statement. “With this report, we aim to equip our partners with the insights and strategies they need to seize new opportunities and succeed in an ever-changing landscape.”
Educational initiatives remain essential for the future of the gaming industry, Egenes said in the report. Platforms and programs designed to bridge the skills gap empower a new generation of creators from allcorners of the world. As more diverse voices enter the industry, more gaming experiences emerge.
Diversity is not just a goal but a necessity for sustainable growth. The increased representation of women in gaming as players and industry leaders demonstrates the importance of inclusion in shaping the sector’s future. This report highlights their impact, from leadership roles to streaming platforms, and howtheir contributions drive change.
While 17% of users plan to adopt VR/AR payments within the next two years, lack of knowledge remains a significant barrier for 28% of consumers. Despite this, investor interest in consumer VR/AR applications, including gaming, is expected to remain high in 2024.
Another tidbit, Microsoft cloud gaming service is expected to reach an annual revenue of $450 million by 2026, a significant increase from $50 million in 2021.
Women represent a big portion of mobile gamers, with 87% playing at least weekly and 64% of thosewomen making in-app purchases. Nintendo Switch is also a popular platform among women, with46% of female gamers playing on the console.
And in the U.S., there will be 182 million mobile gamers by 2027. Revenue for U.S. mobile games hit $47.3 billion in 2023, and this year the U.S. is driving mobile gaming growth worldwide, with player spendingrising by 12.3% year-over-year to $13.3 billion in the first half of 2024.
And seven of the world’s top 10 grossing games had the US as their most lucrative country for App Store and Google Play user spend. And in the U.S., casual and hybrid-casual mobile games are driving the revenue resurgence, with casual games alone making up 60% of total in-app purchases in the last year.
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