Video games in China are expected to bring in $46.7 billion in 2024, according to a report from Niko Partners.
Revenue for mobile and PC in 2019 surpassed $33 billion from 685 million gamers, of which 637 million use mobile. The number of players is expected to increase to 772 million by 2024.
In 2019, mobile games generated $18.5 billion, representing a rise of 18.2 per cent year-on-year. However, this doesn't account for mobile game exports which rose 21 per cent year-on-year to $6.4 billion. Furthermore, mobile earnings will reach $32 billion by the year 2024.
This year 50 per cent of players are expected to be female, with the majority of that figure playing mobile games. By 2024, revenue earned through esports will continue to grow to approximately $23.2 billion.
The ongoing coronavirus pandemic has been cited as responsible for the increased estimates, with 95 per cent of people surveyed claiming to have played more games during the crisis.
"This turbulent time of the Covid-19 pandemic afforded us the opportunity to observe and analyse human behaviour in relation to gaming through the lens of China," said Niko Partners president Lisa Cosmas Hanson.
"These reports analyse market data results, the trends that inform the annual forecast through 2024, and the change in Niko’s previous market model and forecast that is a result of Covid-19, regulations, and other market factors.
"We are going to work with all the industry players to enable us all to live our passion. We are already preparing next year’s edition and are looking forward to seeing you again."
Activision Blizzard CEO Bobby Kotick recently commented during an interview that he believes that people will turn to free mobile games during these times of economic uncertainty.