Mobile gaming proves to be a gold mine as it racked in more money in 2021 than PC and console gaming combined
According to a report published by the gaming industry analyst Newzoo, mobile gaming is proving to be a gold mine for video game developers as the segment brought in US$93 billion (€81.26 billion) in 2021, a significant increase over revenue from video game consoles and PCs. Game consoles and PCs were responsible for US$50.4 billion (€44.04 billion) and US$36.7 billion (€32.07 billion) respectively. As a whole, the gaming industry did pretty well in 2021 as it racked in US$180.3 billion (€157.5 billion), a 1.4% year-over-year increase.
Interestingly, where mobile gaming revenue grew by 7.3% over the previous year, the revenue for PCs and consoles shrank by 0.8% and 6.6%. Newzoo points to game delays and supply chain constraints as the reason for the shrinking console and PC market as new consoles.
Moreover, Asia-Pacific, specifically China, brought in the most mobile gaming revenue. Per Newzoo’s analysis, Asia-Pacific was responsible for US$59.8 billion (€52.25 billion), 64% of all smartphone gaming revenue from 2021. Out of this US$59.8 billion, China alone was responsible for US$31.8 billion (€27.79 billion). U.S. and Japan were the second and the third largest smartphone gaming markets with revenues of US$15.1 billion (€13.19 billion) and US$13.7 billion (€11.97 billion) respectively.
So, what’s the reason behind China leading the mobile gaming segment? Reportedly, the international rise of Chinese game developers and the popularity of games such PUBG Mobile, Call of Duty Mobile, and Genshin Impact. Combined, the developers of PUBG Mobile (Tencent) and Genshin Impact (Mihoyo) made US$18 billion (€15.73 billion) from the international market.
Finally, Newzoo sees the Android and iOS games revenue to increase to US$116.1 billion (€101.44 billion) by 2024 through immense growth in the Middle East and Africa, and Latin America.