The mobile gaming market has been a powerful force in the app industry for quite some time now, but in spite of the fact that this is the case, even it is not immune to the economic setbacks that have been plaguing most industries around the world. Newzoo just released a report that shed some light on the factors that are at play here, and they have revealed some key insights about the state of the industry as of right now.
With all of that having been said and now out of the way, it is important to note that the total revenue generated by the mobile gaming market in 2022 totalled to around $91.8 billion. While impressive, this is nonetheless a 6.7% decrease from the numbers that were seen last year, which indicates that the mobile gaming industry is earning less than might have been the case otherwise.
However, it bears mentioning that about 50% of the total apps that are available across various platforms are still mobile gaming apps. This reveals just how significant games are in this industry, and despite the revenue decline, they will continue to be a formidable force with all things having been considered and taken into account.
Around 49% of the total revenue that went towards these games came from China as well as the US. The Asia-Pacific region saw revenues decline by 8.9%, and North American revenues dropped by 2.5% year over year. This indicates that the two powerhouses for this industry are not providing quite as much cash as they used to in the past.
Meanwhile, Latin America composes the smallest share of this total revenue, coming up to just 5%. It was still able to see 3.3% growth year over year making it the one of two regions whose revenues went north instead of south.
The other region that showed a positive trend in terms of revenue was the Middle East, where revenues grew by 5.8% year over year. This brought the total mobile gaming revenue for this region up to just under $7 billion, or $6.8 billion to be precise.
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With all of that having been said and now out of the way, it is important to note that the total revenue generated by the mobile gaming market in 2022 totalled to around $91.8 billion. While impressive, this is nonetheless a 6.7% decrease from the numbers that were seen last year, which indicates that the mobile gaming industry is earning less than might have been the case otherwise.
However, it bears mentioning that about 50% of the total apps that are available across various platforms are still mobile gaming apps. This reveals just how significant games are in this industry, and despite the revenue decline, they will continue to be a formidable force with all things having been considered and taken into account.
Around 49% of the total revenue that went towards these games came from China as well as the US. The Asia-Pacific region saw revenues decline by 8.9%, and North American revenues dropped by 2.5% year over year. This indicates that the two powerhouses for this industry are not providing quite as much cash as they used to in the past.
Meanwhile, Latin America composes the smallest share of this total revenue, coming up to just 5%. It was still able to see 3.3% growth year over year making it the one of two regions whose revenues went north instead of south.
The other region that showed a positive trend in terms of revenue was the Middle East, where revenues grew by 5.8% year over year. This brought the total mobile gaming revenue for this region up to just under $7 billion, or $6.8 billion to be precise.
Read next: Here Are the Biggest Philosophical Questions People Ask Google
