According to the latest report from Newzoo and its research partner Apptopia, mobile games will grow 4.4% to %90.7 billion.
This growth was slower than what was initially predicted. The impact of Covid-19 on the gaming industry was positive in terms of revenue, so beating the development of last year will be hard. Overall, Newzoo predicted the payment to reach $400 billion by 2024.
Another challenge for developers this year is the stringent policies from companies like Apple and Google, limiting data-driven insights enabled through intelligent tracking and user targeting. This has created problems for developers, publishers, ad tech companies, and marketers alike in the gaming industry.
Despite these challenges, the mobile and games markets are more extensive, lucrative, and diverse than ever before. The total number of smartphone users will reach 3.9 billion worldwide in 2021, representing modest year-on-year growth of 6.1%.
Over half of 2021’s smartphone users are from the Asia-pacific region, primarily thanks to highly populated countries like China and India.
Due to growth in regions like Central-Southern Asia, Sub-Saharan Africa, Latin America, and Southeast Asia, by the end of 2024, there will be 4.5 billion smartphone users worldwide. This growth will continue towards gaming industry.
Newzoo and Apptopia said that there will be $90.7 billion in revenue in 2021 within the gaming industry, out of which $41.1 billion would be from iOS platform and $28.2 billion will come from Google Play. $21.3 billion will come from third-party Android app stores.
The global mobile games market is expected to generate $116.4 billion by 2024 which represents significant growth when compared to previous years.