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The global gaming market is set to hit $222 billion in revenue in 2022, with more than 61% of that accounted for by the mobile gaming market.
According to a report by Data.ai (formerly AppAnnie) and International Data Corp. (IDC), mobile gaming is growing 1.7 times faster than the rest of the gaming market, and is projected to cross $136 billion in revenues in 2022.
"Mobile gaming is now the primary driver of growth for digital games consumption and is set to extend its global lead to 3.3x home game consoles in 2022," Data.ai said. "As COVID-19 prompted a surge in game console sales, broader availability of the newly released Xbox Series X/S and PlayStation 5 consoles will also spur gaming growth further in 2022+."
The revenue from console and PC gaming is estimated at $40 billion and $42 billion, respectively. China leads in consumer spending in mobile and PC gaming, while North America led the console and handheld console market.
In Q1 2022, mobile gamers have already spent $1.6 billion per week on games for their iOS and Android devices, which is up 30% from pre-pandemic levels.
The report says that mobile gaming is outpacing the entire gaming market, especially the console segment. Also, Cross-platform games are projected to gain more ground over mobile-only games.
“Mobile is democratising the space and is now the primary driver of growth for digital games consumption. We are seeing greater diversity across gaming genres allowing publishers to serve new gamers across generations and genders," Lexi Sydow, Head of Market Insights, data.ai, said in a statement.
"The console and mobile experience is also merging; mobile devices are now capable of offering console-like graphics and gameplay experiences along with cross-platform competitive and social gaming features," Data.ai said.
"But mobile also offers an important channel for a large range of gaming subgenres across the full gaming spectrum. On mobile, gaming is truly for everyone."