The gaming industry has grown to become one of most sought after fields.
Catapulted by the booming smartphone and tablet industry, video games are being played all over the world by people of all ages.
Last year, App Annie reports that the gaming industry recorded total revenue of $34.8 billion from all over the world. This represents a massive 85% of all the revenue collected from all mobile apps during the same year. Actually, this shows how much mobile devices are contributing to the gaming world.
App Annie is a renowned research firm and this information is in fact a part of a larger report on the average performance of apps in the mobile industry.
App economy will be worth $101 billion in 2020
According to App Annie, the current trends show that the app economy will stand at a massive $101 billion in 2020, up from the current $51 billion. In addition to this, the report claims that mobile games will grow from this year’s projections of $41.5 billion to a massive $74.6 billion in 2020. A look at these figures and the projections a few years to come shows you exactly how big the gaming industry has become all over the world.
Growth in gaming to be helped by mature markets
While the growth in gaming can be attributed to the growing usage of smartphones and tablets all over the world thanks to the cheap nature of availability (Android devices), this is not always the case. In fact, emerging markets where Android devices have flooded at cheap prices play a very minor role in the revenues collected in games. This is true because most gamers in these markets stick to free-to-play games while shying away from paid-for games. As a result, the revenue generated from these markets is not very significant.
This is why App Annie believes that the projected growth in mobile app economy as well as gaming will be helped a lot by strong monetization practices in markets that are already mature. China has been a decent market for most app developers lately and so is South Korea and Japan. India and Brazil are trailing these countries, but growth in these markets is expected – hence growth in game revenue collected from the regions.
As the mobile gaming industry continues to boom, there is still some good news for the PC gaming industry. According to Jon Peddie Research, sale of PC gaming hardware will grow from last year’s $24.6 billion to $26.1 billion this year and $30 billion by 2018. On the other hand, PC gaming software is also expected to grow from 2014’s $26 billion to $35 billion in 2018.
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