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Global Mobile Gaming Industry Outlook 2024

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Jul, 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

3

02

04

09

18

23

© 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.