New statistics show that the global video games market generated $83bn income this year, with a forecast to reach $95.3bn value by 2024. Mobile games represented the most substantial segment of the entire video games market in 2019 that generated $49bn in revenue according to GoldenCasinoNews.com research.
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Mobile gaming revenue expected to grow at 2.9% CARG by 2024
In 2019, the mobile gaming industry generated around 60% of the worldwide video games revenue. With $16.9bn profit, online games were the second-largest market segment. The third most lucrative revenue source was download games, which generated a $15.1bn income.
The statistics indicate that the mobile gaming industry will continue to generate the most significant part of the video games market revenue in the years to come. With an annual growth rate of 2.9%, the global mobile games market is forecast to reach a $56.6bn value by 2024.
China generates the most significant part of mobile gaming revenue
In global comparison, most of the mobile gaming revenue in 2019 was generated in China, which reported an $18bn profit. The United States was the second-largest mobile gaming market in the world that ended the year with $9.9bn in revenue. Japan ranked third with $6.5bn income, followed by South Korea and the United Kingdom as other leading markets.
Number of mobile games users to reach 1.7 billion by 2024
The number of users in the mobile games segment reached 1.36 billion in 2019, with 36% of them aged between 25 and 36 years old. The latest data report 18.6% of user penetration, expected to rise to 22.5% by 2024.
According to the latest surveys, by 2024, more than 1.7 billion people worldwide will be playing mobile games.
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