China is the world’s largest gaming market and is getting closer to an important milestone. According to data presented by Safe Betting Sites, revenue from gaming in China will amount to $49.3billion by the end of 2021, 84% of which will be generated by Mobile Gaming. The $50billion mark will be hit sometime in 2022 as revenue is projected to grow to almost $56billion by the end of Q4.
China’s gaming market is projected to grow at a Compound Annual Growth Rate (CAGR) of 9.63% in the four-year period from 2021-2025 reaching $71.2billion by the end of the forecast period.
Mobile Gaming Accounts For More Than 80% Of Entire Gaming Revenue In China; Gaming Networks Highest Growth
Mobile Gaming accounts for the largest share of revenue generated by the Chinese gaming market amounting to $35billion in 2020 after growing by an estimated 26% from 2019’s $27.6billion revenue. In the four-year period from 2021-2025 mobile gaming revenue is projected to grow at a CAGR of 10.1% reaching $61billion by the end of the forecast period.
In 2021, mobile gaming revenue is projected to increase a further 17.6% reaching $41.5billion. This gives mobile gaming an 84% share of China’s total gaming market. In comparison, the segment with the next largest share, Online Games, will only amount to $5.6billion in 2020.
In terms of revenue growth, gaming networks overtook mobile games for the first time in 2020 when the gaming network segment grew by 28.3%. In 2021, the gaming network segment is projected to grow a further 18.3%, the highest among all segments.
Video Game Users In China To Reach Almost 800 million In 2021
China had 737.7 million video game users in 2020 after increasing by 13.8% from 2019. In 2021 video game users are projected to increase a further 5.7% to reach almost 780 million. Mobile game users are projected to account for 72.3% of total video game users amounting to 563.7 million in 2021.
Rex Pascual, eSports editor at Safe Betting Sites, commented:
“China’s position as the world’s leading gaming market has been well-established for a time and was further solidified after 2020’s pandemic. The growth of the mobile games and the gaming networks segments will only continue as advances in cloud gaming are made, ensuring that they continue to be primary growth drivers for the entire Chinese video game industry for years to come.”
