Games market insights and analytics firm Newzoo estimated that the global mobile games revenue in 2021 will be $90.7 billion with a growth of 4.4% compared to the reports of last year. Revenue Smartphone games are estimated to be $79.0 billion whereas gaming on Tablet is projected to contribute $11.6 billion. The overall gaming revenue in 2021 including mobile, PC, and console is expected to reach $175.8 billion. In the latest report, Newzoo also projected the total number of gamers to cross 2.7 billion worldwide by 2023.
Mobile Gaming’s growth saga to continue
The overall contribution of mobile gaming is 52% in global mobile gaming revenue in 2021 and the trends from the last few years show that the growth is here to stay. Though it’s also expected to get stiff competition from console gaming by 2022. It’s also interesting to note the potential impact of Apple’s removal of the Identifier for Advertisers (IDFA) in the market. It’s being said that the step will disrupt how many mobile game companies measure the success of their marketing campaigns. The impact of this change will fall on the part of the mobile games monetized through advertisement and that’s largely the puzzle genre. It will be very important to estimate the effects of IDFA in developing markets like Asia.
Future of global games market
The report mentions that the global games market will reach $204.6 billion by the end of 2023 with an impressive CAGR of 7.2% between 2019 and 2023. As things normalize globally, console gaming will witness a surge in revenue generation as more people will be purchasing the new consoles.
As the global mobile games revenue in 2021 is said to be continuing on its momentum, things can also change by next year. By 2022, the revenue from console gaming is expected to outperform mobile games as the release schedule will be overloaded due to delays and more people can purchase the new consoles.