By 2023, the app-based mobile gaming market in Nigeria is estimated to be worth about $126 million. But globally, mobile game revenue is expected to reach $164.10 billion by the end of 2022. In Nigeria, the revenue in the mobile games segment is expected to reach $30.91 million by 2022 as it is expected to show an annual growth rate (CAGR 2022-2027) of 8.14 percent resulting in an estimated market volume from $45.72 million in 2027. In the mobile games segment, the number of users is expected to reach 104.9 million users by 2027. cents in 2022 and 42.8 percent in 2027. In global comparison, most of the revenue will be generated in China ($47,220.00 million in 2022). According to estimates from Statista Digital Market Outlook, the average revenue per user (ARPU) in the mobile games segment is expected to reach $0.43 by 2022, while by the year 2021 a share of 45.7 percent of users will be in the group. with high incomes. .
The number of mobile gamers increases in proportion to the penetration of internet users. As of January 2022, Nigeria had more than 109 million internet users – the highest number reported in all of Africa. Egypt ranks second with over 75 million users. The majority of web traffic in leading digital markets in Africa came from mobile devices – in Nigeria, one of the countries with the largest number of internet users in the world, 82 percent of web traffic was generated via smartphones and about 16 percent via PC devices.
This is partly because mobile connections are much cheaper and do not require the infrastructure needed for traditional desktop PCs with wired Internet connections. Mobile gaming has taken over the lives of millions of people with on-the-go entertainment and a wide variety of genres to suit every type of player. In 2021, mobile was the most profitable gaming segment, ahead of console and PC. While there were 1.7 billion mobile gamers worldwide in 2021, this number will exceed 2.2 billion by 2025.
With audiences growing, the mobile gaming market revenues are sure to grow as well, with numbers expected to rise from $109 billion to $160.6 billion over the same period. While many of the top gaming companies in China are mobile, the biggest names for mobile gaming in Japan are legacy publishers Bandai Namco, Square Enix, Capcom and Konami.
These incumbent console and online gaming companies have also started successfully publishing mobile gaming content – in fiscal 2021, Capcom’s mobile gaming revenue was 6.5 billion yen, up from 4.4 billion yen in 2020. DeNa, LINE Corporation, Aniplex Inc., CyGames and GungHo Entertainment regularly compete for the title as the most profitable mobile game publisher in Japan.
South Korea has an internationally renowned online gaming scene and the mobile gaming market is growing rapidly. In 2020, the leading video game publisher NCsoft generated approximately 1.68 trillion South Korean won in mobile game sales, up from 979 billion South Korean won in 2019. This represents a 72 percent year-over-year growth. Mobile games accounted for more than two-thirds of the company’s total revenue. Netmarble, NCsoft’s largest Korean competitor, generated approximately 2.49 trillion South Korean won in operating revenue in 2020. Netmarble’s most prominent mobile games are Lineage 2 Revolution, Fate/Grand Order, and Ni no Kuni: Cross World. Other top mobile game publishers from South Korea include Kakao Games, Mobirix, and Com2uS. Overall, video games have become the most lucrative media segment in terms of revenue in recent years. Newzoo estimates that the market will grow to more than $196 billion by 2022, of which $104 billion will be generated from mobile gaming alone. In comparison, music and film industry revenues reached $25.9 billion and $21.3 billion in 2021, while video streaming providers such as Netflix and Disney+ generated an estimated $62 billion in 2020. The value of the video game market worldwide has grown significantly over the past decade and is expected to grow even further in the coming years, crossing the $200 billion mark by 2023. The majority of this games market’s revenue is generated by mobile games, while console games make up nearly a third of global revenue.
Among the biggest players in the video game market are companies like Activision Blizzard, Electronic Arts, and Ubisoft, just to name a few. Topping the list of publicly traded companies by gaming revenue in 2019 was Chinese conglomerate Tencent, which generated more than $5.2 billion in revenue from video games in the fourth quarter of 2019. currently being fought between Sony, Microsoft and Nintendo. Since its release in 2013, Sony’s PlayStation 4 has reached cumulative worldwide sales of more than 112 million units, while the lifetime sales of Microsoft’s Xbox One, released the same year as Sony’s console, hover around 50 million. Despite being late to the party and not being released until March 2017, Nintendo’s latest offering, the Nintendo Switch, has been a roaring success around the world, with console sales exceeding 63 million worldwide. Gaming is a hobby of people of all ages and backgrounds, even if it takes a lot of time.
In a 2020 survey that assessed the average weekly time spent playing video games worldwide, nearly 15 percent of respondents claimed to spend seven to 12 hours a week playing video games, while 7.4 percent confessed to spending more than 20 hours per week. per week to spend on the hobby. Men are still the slightly more dominant sex among gamers, and while there was a time when the proportion of female gamers increased, it seems that men are reclaiming their majority as gamers. It is estimated that the global gaming market will reach $268.8 billion per year by 2025, up from $178 billion in 2021. In the video game segment, the number of users is expected to reach 2,829.8 million users by 2027. The user penetration will be 32.3. percent in 2022 and is expected to be 35.6 percent in 2027.
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