The global gaming market has seen a significant surge to $166 billion in value in the past year with mobile accounting for $85.76 billion of that total - half of which came from Chinese companies. This success can be attributed to Chinese companies ongoing commitment to creating high-quality games and a new stronger push for global expansion.
However, overseas titles developed by Chinese developers suffered a 5.65% decrease in revenue, which is around $16.366 billion, according to Gizmochina. The main markets where Chinese mobile games retained their popularity such as the United States, Japan, and South Korea, still made up more than half of China's earnings from other countries.
The widespread acceptance of these games stems from the non-stop improvement of game quality and the adept implementation of market and brand expansion strategies. Despite the continued dominance of strategy titles within Chinese mobile game exports, the casual gaming sector is still seeing impressive growth as overseas market share jumped from 0.6% to 5.1% within three years.
Tencent leads the way
China's gaming dominance is bolstered by Tencent Games, a revenue powerhouse contributing 100 billion yuan ($14.13 billion) to the totals, alongside 51 other Chinese companies ranking among the top 100 global earners.
It's worth noting that despite the China's impressive gaming performance, the road ahead remains uncertain.
There are still questions concerning declining domestic revenue, the need to navigate intense global competition, find ways to cut user acquisition costs and overcome domestic hurdles such as the Chinese government's stringent regulations that - at least for now - appears to have abated.
To overcome international expansion challenges, more than 60% of surveyed Chinese companies are focusing on long-term product operations, strategic partnerships, regional preferences, and advanced technologies. These efforts help maintain global dominance as well as pave the way for more success in the global market.