Global Mobile Gaming Industry Outlook 2024
Download PDFJul, 2024 Global
Mobile Gaming
Industry
Outlook
2024
© 2024 Sensor Tower Inc. – All Rights Reserved
Sensor Tower
—
This report provides an in-depth analysis of the global
mobile game market for 2023 on both the App Store and
Google Play, as well as the outlook for the global mobile
game market from 2024 to 2028.
It includes global mobile game revenue trends, mobile
game revenue trends in Key APAC markets, and changes
in revenue for mid-core through to casual models.
The report further analyses the revenue performance and
top games of key genres such as Puzzle, RPG, and
Strategy games globally, as well as the rankings of top
mobile games within APAC markets.
2
© 2024 Sensor Tower Inc. – All Rights Reserved
Introduction
Global Mobile Gaming Industry Overview
Trends within Top Mobile Gaming Genres
Top Performing Games in Key APAC Markets
Key Highlights
Contents
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02
04
09
18
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© 2024 Sensor Tower Inc. – All Rights Reserved
4
Mobile Gaming Industry
Global Overview
© 2024 Sensor Tower Inc. – All Rights Reserved
5
Annual Global In-App
Purchase Revenue in Mobile
Games
In 2023, global IAP revenue from mobile games
reached $76.7 billion, showing a 2% year-on-year
decline. This decline was less steep compared to
2022, but still 22% higher than the revenue recorded
in 2019.
For 2024, it is anticipated that global mobile game
revenue will rebound to $78 billion. By 2028,
revenue is expected to surpass $100 billion, with an
average annual growth rate of approximately 6.8%.
Explanation on Revenue Statistics:
The data provided by Sensor Tower represents estimated values of in-app purchases (IAP) from the
App Store and Google Play. This data does not include revenue from advertising, income from
third-party Android markets, or direct payments generated from manufacturer websites and other
payment channels. Unless explicitly stated as net income, these figures represent total revenue (i.e.,
revenue before platform fees are deducted).
Note:
Revenue figures for 2024 to 2028 are forecasts.
Data Source: Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
6
The United States remains the largest market for mobile
games, generating $22.2 billion in revenue in 2023, in
line with 2022 and 38% higher than 2019. It is expected
that mobile game revenue in the US will steadily
increase from 2024 to 2028, with a potential reach of
$33.5 billion by 2028.
In the Chinese iOS mobile game market, IAP revenue
also remained stable, reaching $15.1 billion in 2022.
In 2023, revenue in the Japanese and South Korean
markets saw declines. The Japanese market decreased
by 13% to $12.5 billion, while the South Korean market
decreased by 7% to $4.8 billion.
In the US and Chinese
Markets, IAP Revenue in
2023 is Stabilising
Explanation on Revenue Statistics:
The data provided by Sensor Tower represents estimated values of in-app purchases (IAP) from the
App Store and Google Play. This data does not include revenue from advertising, income from
third-party Android markets, or direct payments generated from manufacturer websites and other
payment channels. Unless explicitly stated as net income, these figures represent total revenue (i.e.,
revenue before platform fees are deducted).
Note:
Revenue figures for 2024 to 2028 are forecasts.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
7
Casual and Hybrid-Casual
Games Continue To See
Growth
With the popularity of casual games such as
MONOPOLY GO! and Eggy Party, along with the
growth of hybrid games like Survivor!.io, spend in
casual gaming has been increasing annually.
Meanwhile, revenue share for mid-core to hardcore
games has been decreasing.
In 2023, revenue from casual games grew by 8% to
$28.6 billion, accounting for 38% of total global mobile
game revenue.
Notably, the growth trajectory of hybrid games has
been remarkable, with revenue in this category
increasing by 30% to surpass $2.1 billion in 2023.
Explanation on Revenue Statistics:
The revenue data provided by Sensor Tower represents estimated values of IAP from the App Store
and Google Play. This data does not include revenue from ads, income from third-party Android
markets, or direct payments from manufacturer websites and other channels. Unless stated as net
income, these figures represent total revenue (i.e., revenue before platform fees are deducted).
Explanation on Download Statistics:
The download data provided by Sensor Tower represents estimated values from the App Store and
Google Play. This data does not include pre-installs, duplicate downloads, or downloads from
third-party Android markets. Google Play services are not available in Mainland China.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
8
Puzzle & Card Games See
Growth, While RPG and
Strategy Games Decline
RPG and Strategy games remain the largest
categories in mobile, generating $20 billion and $14.8
billion respectively in 2023. However, with the decline
of the stay-at-home economy boost due to the
pandemic, revenue from mid-core to hardcore games
like RPGs, Strategy, and Shooters has decreased.
Noting standout games like MONOPOLY GO! and
Royal Match, card and puzzle games saw significant
growth, increasing by 18% and 10% respectively, each
reaching $10 billion in revenue.
Explanation on Revenue Statistics:
The revenue data provided by Sensor Tower represents estimated values of IAP from the App Store
and Google Play. This data does not include revenue from ads, income from third-party Android
markets, or payments from manufacturer websites and other payment channels. Unless stated as net
income, these figures represent total revenue (i.e., revenue before platform fees are deducted).
Explanation on Download Statistics:
The download data provided by Sensor Tower represents estimated values from the App Store and
Google Play. This data does not include pre-installs, duplicate downloads, or downloads from
third-party Android markets. Google Play services are not available in Mainland China.
Note:
Data is collected up until December 2023.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
9
Key Genre
Market Trends
© 2024 Sensor Tower Inc. – All Rights Reserved
10
In 2023, Puzzle Games
Saw Revenue Rebound
To $10 Billion
In 2023, player enthusiasm for games like Royal
Match drove a 10% rebound in revenue for puzzle
games compared to 2022, reaching $10 billion.
Classic match-three games such as Candy Crush
Saga and Royal Match remain the top earners, with
revenue growing by 13% to $6.4 billion in 2023.
Games like Travel Town and Gossip Harbor
experienced significant revenue increases of 426%
and 452% respectively in 2023, leading to a 36%
rise in revenue for merge games to $900 million.
Explanation on Revenue Statistics:
The revenue data provided by Sensor Tower represents estimated values of in-app purchases (IAP)
from the App Store and Google Play. This data does not include revenue from advertising, income
from third-party Android markets, or direct payments generated from manufacturer websites and
other payment channels. Unless explicitly stated as net income, these figures represent total revenue
(i.e., revenue before platform fees are deducted).
Explanation on Download Statistics:
The download data provided by Sensor Tower represents estimated values from the App Store and
Google Play. This data does not include pre-installs, duplicate downloads, or downloads from
third-party Android markets. Google Play services are not available in Mainland China.
Note:
Data is collected up until December 2023.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
11
Royal Match Surpasses
Candy Crush Saga in
Revenue for the First Time
Thanks to clever level design and consistent
updates, Dream Games’ royal-themed match-three
game Royal Match surpassed Candy Crush Saga in
both revenue and downloads in July 2023. The
game’s revenue doubled in 2023, making it the
fastest-growing puzzle game by revenue.
According to Sensor Tower data, as of the end of
December 2023, “Royal Match” has accumulated
nearly $2 billion in global revenue.
Explanation on Revenue Statistics:
The revenue data provided by Sensor Tower represents estimated values of in-app purchases (IAP)
from the App Store and Google Play. This data does not include revenue from advertising, income
from third-party Android markets, or direct payments generated from manufacturer websites and
other payment channels. Unless explicitly stated as net income, these figures represent total revenue
(i.e., revenue before platform fees are deducted).
Explanation on Download Statistics:
The download data provided by Sensor Tower represents estimated values from the App Store and
Google Play. This data does not include pre-installs, duplicate downloads, or downloads from
third-party Android markets. Google Play services are not available in Mainland China.
Note:
Data is collected up until December 2023.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
12
New Entrant MONOPOLY
GO! Drives an 18% Increase
in Revenue for Board Games
MONOPOLY GO!, based on the Monopoly IP,
quickly topped iOS game download charts in the US
and many European markets upon its release. In
2023, it generated nearly $1.2 billion in revenue,
contributing 12% to the entire board game genre
and driving an 18% increase in revenue for mobile
board games.
The US is the primary market for mobile board
games, experiencing a revenue increase of 21% in
2023, capturing 54% of the total revenue of the
genre. Meanwhile, revenue from mobile board
games in European and Chinese iOS markets also
saw significant increases.
Explanation on Revenue Statistics:
The data provided by Sensor Tower represents estimated values of in-app purchases (IAP) from the
App Store and Google Play. This data does not include revenue from advertising, income from
third-party Android markets, or direct payments generated from manufacturer websites and other
payment channels. Unless explicitly stated as net income, these figures represent total revenue (i.e.,
revenue before platform fees are deducted).
Note:
Revenue figures for 2024 are forecasts.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
Note: Data is collected up until December 2023. Data
Source: Sensor Tower App Performance Insights
13
MONOPOLY GO! has accumulated revenue exceeding $1.2 billion,
with high weekend player activity and MAUs surpassing 17 million
© 2024 Sensor Tower Inc. – All Rights Reserved
14
Revenue From RPG Titles
Continue To Decline, With
Significant Decreases in
Its’ Largest Market, Japan
In 2023, global RPG title revenue declined by 10%,
approaching levels seen in 2019. Japan remains the
highest revenue market for RPG mobile games, with
a 17% decrease in revenue to $6.1 billion in 2023.
Revenue from RPG titles in South Korea and the
United States also saw approximately a 10%
decline.
Explanation on Revenue Statistics:
The data provided by Sensor Tower represents estimated values of in-app purchases (IAP) from the
App Store and Google Play. This data does not include revenue from advertising, income from
third-party Android markets, or direct payments generated from manufacturer websites and other
payment channels. Unless explicitly stated as net income, these figures represent total revenue (i.e.,
revenue before platform fees are deducted).
Note:
Data is collected up until December 2023.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
15
New Entrant MONOPOLY
GO! Drives an 18% Increase
in Revenue for Board Games
MONOPOLY GO!, based on the Monopoly IP,
quickly topped iOS game download charts in the US
and many European markets upon its release. In
2023, it generated nearly $1.2 billion in revenue,
contributing 12% to the entire board game genre
and driving an 18% increase in revenue for mobile
board games.
The US is the primary market for mobile board
games, experiencing a revenue increase of 21% in
2023, capturing 54% of the total revenue of the
genre. Meanwhile, revenue from mobile board
games in European and Chinese iOS markets also
saw significant increases.
Explanation on Revenue Statistics:
The data provided by Sensor Tower represents estimated values of in-app purchases (IAP) from the
App Store and Google Play. This data does not include revenue from advertising, income from
third-party Android markets, or direct payments generated from manufacturer websites and other
payment channels. Unless explicitly stated as net income, these figures represent total revenue (i.e.,
revenue before platform fees are deducted).
Note:
Revenue figures for 2024 are forecasts.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
16
Impressive New Titles Drive
Excellent Revenue, Securing
Top 10 Positions in Rankings
for the Genre
Explanation on Revenue Statistics:
The data provided by Sensor Tower represents estimated values of in-app purchases (IAP) from the
App Store and Google Play. This data does not include revenue from advertising, income from
third-party Android markets, or direct payments generated from manufacturer websites and other
payment channels. Unless explicitly stated as net income, these figures represent total revenue (i.e.,
revenue before platform fees are deducted).
Note:
Data is collected up until December 2023.
Data Source:
Sensor Tower App Performance Insights
2023 saw modest revenue performance for RPG
titles. Despite this, we saw many high-quality new
releases, offering players novel experiences with
unique artistic styles, gameplay mechanics, and
themes – resulting in remarkable revenue growth.
Games like Honkai: Star Rail, Justice, Goddess of
Victory: Nikki, Chang’an Fantasy, Night Crows, and
Pixel Heroes, launched in the past 1-2 years,
dominated the revenue growth charts, securing
positions 1 to 6.
© 2024 Sensor Tower Inc. – All Rights Reserved
17
Strategy Game Revenue
Continues To Shrink, Yet 4X
Strategy Games Remain the
Most Popular Sub-Genre
In 2023, global revenue from strategy games
declined by 10% to $14.8 billion, but still maintained
a 22% increase compared to 2019.
Among them, 4X strategy games remained the
highest-grossing sub-genre, with revenue nearing
$7 billion in 2023, accounting for 47% of the overall
revenue in the genre.
However, this represented a 14% decrease from
2022.
Explanation on Revenue Statistics:
The data provided by Sensor Tower represents estimated values of in-app purchases (IAP) from the
App Store and Google Play. This data does not include revenue from advertising, income from
third-party Android markets, or direct payments generated from manufacturer websites and other
payment channels. Unless explicitly stated as net income, these figures represent total revenue (i.e.,
revenue before platform fees are deducted).
Note:
Data is collected up until December 2023.
Data Source:
Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
18
Whiteout Survival Defies All
Odds With High Revenue
Growth, Becoming the
Biggest Dark Horse in the
Strategy Genre
In a market environment where revenue for strategy
mobile games continues to tighten, the 4X strategy
new game Whiteout Survival by DianDian Interactive
has won the favor of players with its novel ice and
snow survival theme and creative integrated
gameplay.
Its global revenue has grown by $370 million versus
the trend, making it the most outstanding growth
mobile game in the strategy genre for 2023.
About Revenue Statistics
The data collected by Sensor Tower represents estimated in-app purchase (IAP) values from the App
Store and Google Play Store. This data does not include revenue from advertisements, revenue from
third-party Android markets, or direct payment revenue from the official websites of manufacturers
and other payment channels. Unless explicitly stated as net revenue, the data represents gross
revenue (i.e., it does not deduct the platform’s share).
Note: The data is collected up to December 2023.
Source: Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
19
Top Games within
APAC Markets
© 2024 Sensor Tower Inc. – All Rights Reserved
20
Honor of Kings Retains the #1 Ranking for
Revenue. “MONOPOLY GO!” Tops the
Revenue Growth Rankings.
Explanation of Revenue Statistics
The data collected by Sensor Tower represents estimated in-app purchase (IAP) values from the App
Store and Google Play Store. This data does not include revenue from advertisements, revenue from
third-party Android markets, or direct payment revenue from the official websites of manufacturers
and other payment channels. Unless explicitly stated as net revenue, the data represents gross
revenue (i.e., it does not deduct the platform’s share).
Note: The data is collected up to December 2023.
Source: Sensor Tower App Performance Insights
Thanks to continuous updates of rich, new content,
Tencent’s “Honor of Kings” maintained stable revenue in 2023,
retaining the top spot on the global mobile game revenue
ranking. As of December 2023, the game has accumulated
revenue of over $15.5 billion.
Scopely’s new Monopoly IP game “MONOPOLY GO!”
combines classic board game mechanics with competitive and
social elements, generating a staggering $1.2 billion in 2023,
successfully topping the revenue growth chart.
Six mobile games published by Chinese developers, including
“Honkai: Star Rail,” “Justice Online,” “Whiteout Survival,” and
“Eggy Party,” made it into the top 10 of the revenue growth
rankings.
© 2024 Sensor Tower Inc. – All Rights Reserved
21
Casual Games Lead the Revenue Ranking for
Mobile Games in the United States.
“Whiteout Survival” Shows Impressive
Growth.
In 2023, the mobile gaming market in the United States
reached $22.2 billion in revenue, with casual games
generating $14.3 billion, accounting for over 64% of the
market compared to mid-core and hardcore games.
“MONOPOLY GO!” dominated both the revenue and growth
charts, while casual games like “Candy Crush Saga,” “Royal
Match,” and “Coin Master” led the revenue chart for mobile
games in the United States.
DianDian Interactive’s new strategy game “Whiteout
Survival,” with its post-apocalyptic ice theme and innovative
gameplay, defied trends with impressive revenue growth in
2023, securing the 3rd spot in the growth chart for the U.S.
mobile gaming market.
Explanation of Revenue Statistics
The data collected by Sensor Tower represents estimated in-app purchase (IAP) values from the App
Store and Google Play Store. This data does not include revenue from advertising, revenue from
third-party Android markets, or direct payment revenue from manufacturers’ official websites and
other payment channels. Unless explicitly stated as net revenue, the data reflects total revenue (i.e.,
not deducted for platform shares).
Note: Data is compiled up to December 2023.
Source: Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
22
“Honkai: Star Rail” Clinched the #1
Position in the Growth Chart in the
Japanese Market.
Explanation of Revenue Statistics
The data compiled by Sensor Tower represents estimated in-app purchase (IAP) values from the
App
Store and Google Play Store. This data excludes revenue from advertising, revenue from third-party
Android markets, and direct payment revenue from manufacturers’ official websites and other
payment channels. Unless explicitly stated as net revenue, the data reflects total revenue (i.e., not
adjusted for platform shares).
Note: Data is collected up to December 2023.
Source: Sensor Tower App Performance Insights
The new turn-based RPG “Honkai: Star Rail” by miHoYo has
gained popularity among Japanese players, frequently
topping the iPhone mobile game revenue list in Japan and
securing the top spot on the 2023 mobile game growth chart
in the Japanese market.
According to Sensor Tower data, Japan is the game’s largest
overseas market, contributing 21% of its total global
revenue.
In 2023, Tencent’s anime RPG mobile game “Goddess of
Victory: Nikki” saw a revenue increase of 182% in the
Japanese market, ranking 9th on the revenue chart and 2nd
on the growth chart.
© 2024 Sensor Tower Inc. – All Rights Reserved
23
Local MMORPG Mobile Games Maintain
Their Lead. “Night Crows” Tops the
Growth Chart.
In the South Korean market, mobile MMORPG mobile titles
generated $1.9 billion in revenue in 2023, constituting 40%
of the total revenue from South Korean mobile games,
despite experiencing a slight decline.
Local MMORPGs such as “Lineage M” and “Odin: Valhalla
Rising” dominated the top spots on the bestseller list.
Wemade’s dark fantasy MMORPG “Night Crows” achieved
revenue of $180 million in 2023, securing the top spot on the
growth chart.
DianDian Interactive’s “Whiteout Survival” also demonstrated
impressive revenue in the South Korean market, ranking 3rd
on the growth chart.
Explanation of Revenue Statistics
The data compiled by Sensor Tower represents estimated in-app purchase (IAP) values from the
App
Store and Google Play Store. This data does not include revenue from advertising, revenue from
third-party Android markets, or direct payment revenue from manufacturers’ official websites and
other payment channels. Unless explicitly stated as net revenue, the data reflects total revenue (i.e.,
not adjusted for platform shares).
Note: Data is collected up to December 2023.
Source: Sensor Tower App Performance Insights
© 2024 Sensor Tower Inc. – All Rights Reserved
Key Highlights
24
•
In 2023, global IAP revenue for mobile games reached $76.7 billion, a 2%
decrease compared to the 22, however representing a 22% increase from 2019. It
is projected that global mobile game revenue will rebound to $78 billion in 2024,
with forecasts suggesting revenue could surpass $100 billion by 2028.
•
Revenue from casual games continued to grow annually, with revenue from
casual games increasing by 8% to $28.6 billion, accounting for 38% of global
mobile game revenue. Hybrid-casual mobile games saw a revenue increase of
30% to $2.1 billion. Conversely, revenue from mid-core and hardcore mobile
games continues to decline.
•
RPG and strategy games remained the highest revenue-generating genres in
mobile gaming in 2023, with revenues of $20 billion and $14.8 billion, respectively.
However, both genres experienced declines as the pandemic-driven stay-at-home
economy boost gradually fades.
•
Board and Puzzle mobile games, highlighted by titles like “MONOPOLY GO!” and
“Royal Match,” excelled in the casual gaming sector, with revenue growth of 18%
and 10% respectively, each reaching $10 billion.