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 $49.3B by the end of 2021, 84% of which will be generated by Mobile Gaming.
Gaming market in China generated just under $50bn in revenue
Mainland China is the world’s most robust gaming market and will further solidify this position in 2021 as it approaches an important milestone. China’s video game market is expected to generate $49.3B in 2021 reaching the $50B mark sometime in 2022 when revenue is projected to grow to almost $56B. 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 $71.2B 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 $35B in 2020 after growing by an estimated 26% from 2019’s $27.6B revenue. In the four-year period from 2021-2025 mobile gaming revenue is projected to grow at a CAGR of 10.1% reaching $61B by the end of the forecast period.
In 2021, mobile gaming revenue is projected to increase a further 17.6% reaching $41.5B. 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 $5.6B 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 800m in 2021
China had 737.7M 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 780M. Mobile game users are projected to account for 72.3% of total video game users amounting to 563.7M 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.