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China Mobile Gaming Market and Future Forecast to 2026
The China mobile gaming market has witnessed tremendous growth over the past years and after the virus outburst industry revenue exceeded Yuan 300 billion mark in 2021.
By: Makreo Research And Consulting
The Chinese video gaming industry is the world's largest in terms of revenue and gamers. The dominance of national projects is a fundamental element of the Chinese gaming sector. Organizations across the country are embracing digital transformation throughout the product cycle, notably to improve their production efficiency, as Chinese enterprises prepare to embrace the business prospects presented by global digitalization. China's mobile gaming sector has surged since the early 2010s. The proliferation of smartphones across the mainland has led to more people using their personal gadgets for daily entertainment, comparable to the rapid rise in mobile payment apps. Aside from their ease and accessibility, several modern smartphones are now more powerful than the average video game console and offer significantly more functionality, establishing them as a viable alternative to more traditional gaming equipment.
In 2021, the market grew by 8% reaching Yuan 324 billion. China's gaming market is still dominated by mobile games, which account for more than 70% of total revenue of gaming industry and it is expected to reach by Yuan 481.36 billion by 2026 registering a CAGR of 8% from 2021-26.
Impact of Covid-19
The virus outbreak has resulted in an increase in stock for the video game business almost everywhere in the world. Millions of people have turned to their tablets and cell phones while several countries are under lockdown to stop the spread of the sickness in order to keep their psyches active and engaged. In fact, the World Health Organization (WHO) joined in on the fun by recommending that individuals play internet games at home to stop the spread of COVID-19. The rise of mobile gaming has provided businesses with an opportunity to work together and engage their customers through mobile advertising as the limits imposed by the coronavirus pandemic lift and the country heals.
Further Key Findings:-
1. Spike In Mobile Game and App Downloads
2. Increasing Mini Games
3. Rising Smartphone Penetration
4. Increasing Cloud Gaming
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Page Updated Last on: Dec 22, 2022