Mobile gaming revenue is projected to increase by 4% year-over-year to $111.4 billion in 2024, according to a new Data.ai report.
This is despite the prediction that consumer spending will drop a further 3% in 2023 to $107.5 billion.
The growth was attributed to a projected increase of popularity among several genres, including RPGs, match-three titles, and party games, with RPG and match-three games contributing $1 to every $5.
The market analyst firm predicted that the US will account for 40% of year-over-year growth in the mobile market.
Consumer spending in Japan, South Korea, Taiwan, Germany, and the UK are also predicted to increase.
However, Data.ai noted the potential impacts of an increase in alternative app stores and regulatory issues in markets such as China, and how it may impact growth.
Outside of games, the report anticipated that social media platform TikTok will become the highest grossing app reaching $14.6 billion in 2024, as consumer spending in TikTok grew 70% year-over-year in 2023.
If TikTok’s growth unfolds as predicted by Data.ai, it will be 3.7 times faster than Candy Crush, making it the first non-game app to surpass a mobile game in quarterly consumer spending.
Meanwhile, it was estimated that 2.3 billion mobile app downloads will include some form of generative AI – particularly in video and photo editing apps.
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