The mobile games industry generated $40.6 billion in revenues in 2016 and saw 2.6 billion monthly active users playing games, according to SuperData Research.
In its 2016 in Review report, the data firm also estimates that Mixi's Monster Strike was the top grossing game of the year after it generated a reported $1.3 billion between January and November.
Supercell's Clash of Clans and Clash Royale were the second and third-best grossing games of the year, generating $1.2 billion and $1.1 billion respectively.
MZ's Game of War and Mobile Strike took the fourth and fifth spots with $0.91 billion and $0.9 billion.
Pokemon GO made an estimated $788 million in revenue due to its mid-year launch. It peaked at $203 million with 290 million MAUs in August 2016.
Asia was the standout market for revenue, generating $24.9 billion in 2016. North America came second with $6.9 billion, Europe was third with $5.7 billion, Latin America brought in $2.4 billion and the rest of the world generated $0.8 billion in revenue.
In terms of mobile VR, SuperData estimates that the Google Daydream shipped 261,000 units.
It also claimed that the Samsung Gear VR shipped 2.3 million units and Google Cardboard shipped 88.4 million units.