data.ai published a prediction report earlier today regarding the future of the mobile gaming industry in 2024. USA will lead the mobile games market single-handedly by player spending value which will be 40% of the total market in 2024. The report predicted that consumer spending in mobile gaming will drop by 3% in 2023 to $107.5 billion while the country will be the driving force to make a comeback next year. The report also shared several other things related to the mobile gaming market and its future in the coming year.
USA to be the largest player in the mobile games market in 2024 for consumer spending
It is unsatisfying that the market will go down by another 3% in 2023 to stand at $107.5 billion in terms of consumer spending. However, the good news is that the market will return stronger in 2024. According to the report published by data.ai, the USA will be the leading country responsible for market growth in 2024. The country will drive a total of 40% of aggregate YoY spend, followed by Japan, South Korea, Taiwan, Germany, and the UK.
The primary reason for which the market will drop is because of high inflation, economic headwinds, and market correction after the post-COVID situation. From this year’s $107.5 billion, the market will rise in 2024F. A 4% growth will take the overall value to $111.4 billion where the highest point was touched during the COVID-19, at $115.8 billion.
Candy Crush Saga to go down from the top against TikTok in lifetime consumer spend
The match-3 title, Candy Crush Saga, hit the milestone of spending $14 billion for consumers just 10 days before TikTok caught it. The game was released in 2012 and quickly became a hit. On the other hand, the latest sensation in the mobile gaming arena, Genshin Impact, also came up in lifetime spend calculation.
The title is set to surpass $6.3 billion in only four years. Other mobile titles include Pokemon Go and Roblox. The assumption from Data.ai is calculated based on its proprietary mobile market estimates which do not resemble the official statistics by the creator companies.
Data.ai mobile gaming prediction report shows 2024 will witness a moderate growth
The analysis from 2015-2021 shows that the mobile gaming market received a prompt uprising. It was like the fastest car racing against the daily drivers. In 2021, the growth was 15% only but the market touched nearly a whopping $120 billion.
However, the trend seems to stop at last as the coming year will witness moderate growth as Data.ai mobile gaming prediction report stated. RPG, Match, Party and Casino genres will be the leader in growing the market but the pace will be decent. We saw an acceleration in spending money during the pandemic. “Macroeconomic impacts on discretionary spending, a crackdown on fingerprinting in advertising, the growth of alternative app store distributions and regulations on gaming” will be the bridle for holding the pace backward.
Overall, it is good for the gaming industry as the hype will be minimized. The market will become stable even if in bad situations. If the climb becomes limitless, the harder it will be to face any backdrop in the industry.
A healthy competition will grow among the leaders as well as newly established studios will also get the opportunity to turn back to the market again even if they face any seatbacks with any of their titles. But, as this is so far only a prediction, we’ll have to wait to see what will come in the coming days.
What are your thoughts on the latest trends, particularly on the USA mobile games market in 2024? Let us know in the comments below!
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