In 2023, the global mobile games market demonstrated notable resilience, stabilizing at $76.7 billion in revenue following a previous year's decline. This stability, which maintains a 22% increase over pre-pandemic levels, marks a pivotal moment for the industry. According to Sensor Tower's latest report, the market is poised for a significant rebound in 2024, with projections suggesting revenues could surpass $100 billion by 2028. In this article, we will summarize the main findings from the report and share valuable insights.

Global Mobile Game Revenue Hits $76.7 Billion in 2023

Global Mobile Games Market

In 2021, the pandemic-driven online surge propelled global mobile game revenue to a peak of $86 billion. However, as this surge subsided, a 9% decline in revenue followed in 2022. By 2023, revenue stabilized at $76.7 billion, effectively halting the downward trend. Looking ahead to 2024, global mobile game revenue is expected to resume an upward trajectory, with forecasts indicating it could exceed $100 billion by 2028.

Annual Global Trends in Mobile Game IAP Revenue

Market Stability and Regional Insights

The United States continues to lead in mobile game revenue, maintaining its top position with a 38% increase over 2019 figures. Projections indicate steady growth, potentially reaching $33.5 billion by 2028. In contrast, the Chinese iOS mobile game market showed stability with $15.1 billion in in-app purchase revenue in 2022, while Japan and South Korea experienced varied declines.

Global Trends in IAP Revenue by Market

Genre-Specific Revenue Analysis

Casual Games on the Rise

Casual mobile games have been a significant contributor to market growth. In 2023, popular titles like MONOPOLY GO! and Egg Party, along with established games such as Royal Match and Travel Town, have driven considerable spending. Hybrid-casual games saw a remarkable 30% increase, exceeding $2.1 billion in revenue.

Distribution and Growth Rate of Mobile Game Revenue by Product Model for 2023

Midcore Games Experience Contraction

While casual games thrived, midcore mobile game revenue contracted by 9% but still represented 59% of the total market revenue. RPG and strategy games were the major contributors, generating $20 billion and $14.8 billion respectively in 2023, despite a 10% decline from the previous year.

Global Mobile Game IAP Revenue and Growth Rate by Genre for 2023

Growth in Puzzle and Casino Games

Puzzle games saw a resurgence in 2023, with revenue increasing by 18% to reach $10 billion. Leading the charge was the match-3 game Royal Match, which saw a 13% revenue increase to $6.4 billion. Merge games also contributed to the growth, with titles like Travel Town and Gossip Harbor® experiencing substantial revenue boosts.

In 2023, Puzzle Games Saw REvenue Reboud to $10 Billion

Casino mobile games enjoyed a similar uptick, with an 18% revenue increase driven by new titles like MONOPOLY GO!, which combined classic casino mechanics with social and competitive elements. This game alone generated $1.2 billion in 2023.

Global Trends in IAP Revenue for Car/Board Games

RPG and Strategy Games See Growth

RPG Games: Mixed Outcomes

RPG mobile games faced a 10% revenue decline in 2023, approaching 2019 levels. However, new releases such as Honkai: Star Rail and NetEase's Justice injected fresh energy into the genre with innovative gameplay and art styles, leading to significant revenue growth.

Top 10 Global RPG Titles by Revenue in 2023

Strategy Games: Stable yet Declining

The strategy game sector saw a 10% revenue decline to $14.8 billion in 2023. Despite this, the genre's revenue remains 22% higher than 2019 levels. Century Games' Whiteout Survival stood out, achieving $370 million in global revenue, making it a notable success in the strategy game market.

Top 10 Global Strategy Games by IAP Revenue Growth in 2023

NFL Rivals Hybrid Success Story

NFL Rivals, by Mythical Games, employs a unique hybrid web2 and web3 gaming model that has shown notable sucess. The web2 version of the game, available on mobile app stores, operates on a free-to-play basis with in-app purchases made using traditional payment methods. This approach ensures a broad reach and compliance with Google and Apple store policies. The web3 version, accessible through Mythical's website, allows players to use cryptocurrencies and wallets, engaging in secondary market trading.

John Linden, Mythical’s CEO, noted a significant revenue boost due to the introduction of secondary trading. Initially, this feature led to a 10-15% revenue increase, which has since grown to a 50% lift as more functionality was added. Players can merge assets, creating new tradeable items, further enhancing the game's economy.

NFL Rivals Gameplay

Future Projections and Final Thoughts

The findings from the latest Sensor Tower report on the global mobile games market are particularly relevant to the growing field of web3 gaming. As the mobile games market demonstrates resilience and projected growth, the integration of blockchain technology and decentralized platforms within web3 gaming stands to benefit significantly from these trends. The stability and upward trajectory in genres such as casual and puzzle games highlight lucrative opportunities for web3 developers to innovate and capture a share of this expanding market.

With mobile gaming revenue expected to surpass $100 billion by 2028, web3 gaming can leverage this growth to introduce new models of in-game economies and player ownership, potentially transforming the gaming experience. Understanding these market dynamics is crucial for web3 gaming stakeholders aiming to align their strategies with evolving consumer preferences and technological advancements.