Mobile Gaming Industry Rebounds in 2024 with $82B in IAP Revenue
The global mobile gaming industry has rebounded in 2024, showing strong growth after a period of stagnation. The United States maintained its position as the top market, while China and Japan followed closely. Players worldwide spent more time and money on mobile games, with strategy and RPG titles dominating the scene.
The mobile gaming industry witnessed a significant surge in in-app purchase (IAP) revenue, reaching $82 billion globally. This marked a 4% year-over-year (YoY) increase, reflecting the industry's resilience. The United States remained the top market, generating nearly $24 billion in IAP revenue.
Developers have embraced Live Ops models to keep players engaged. This approach, which involves delivering fresh content and updates, has proven successful in boosting user retention. Games that combined IAPs and advertising saw a 37% boost in revenue, indicating that developers are finding innovative ways to monetize their games.
Players spent a staggering 3.5 trillion hours on mobile games in 2024, up 8% from the previous year. Despite a 7% YoY decline in new app downloads, total gaming sessions grew by 12%. This suggests that the industry is effectively retaining and engaging its user base.
The top three markets for mobile games in 2024 were China, the United States, and Japan, with revenues of $48.7 billion, $47.6 billion, and $16.6 billion respectively. Casual games led revenue in Western markets, while strategy and RPG titles dominated the global landscape.
The mobile gaming industry's return to growth in 2024 is a testament to its adaptability and resilience. With players spending more time and money on mobile games, and developers embracing innovative monetization strategies, the future of the industry looks promising. As the top markets continue to drive revenue, the global mobile gaming landscape remains dynamic and competitive.
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