Xsolla projects that the mobile gaming market will attain a valuation of $98.7 billion by 2024

According to Xsolla, the mobile gaming sector is anticipated to generate $98.7 billion in 2024, with China projected to be the leading market, contributing $34.6 billion.

Their Autumn 2024 State of Play report suggests a compound annual growth rate of 6.4% from 2024 to 2027, with an expectation of reaching $118.9 billion by 2027.

Asia remains the dominant region in mobile gaming, with revenues increasing from $65 billion in 2024 to $77 billion in 2027. North America is also expected to grow, with revenues rising from $21 billion to $25 billion.

Global in-app purchase spending amounted to $171 billion in 2023, with China leading at $52.1 billion, followed by the United States at $44 billion.

Women represent 64% of those making in-app purchases, and 87% of them engage in mobile gaming weekly.

Google Play emerged as the leading app store, with users downloading around 25.6 billion apps in the first quarter of 2024.

In contrast, the Apple App Store had 8.4 million downloads; however, Xsolla pointed out that the App Store remains stronger in revenue terms.

The first half of 2024 saw a rise in investment activity, as each quarter surpassed $2 billion, nearly double the $4.5 billion total investment reported for the entirety of 2023.

"The Autumn 2024 Edition of the Xsolla report provides comprehensive insights into mobile trends, new payment solutions, women's influence in gaming, and ongoing regulatory changes shaping the industry's future," stated Berkerly Egenes, Xsolla's chief marketing officer.

"This report aims to arm our partners with the knowledge and strategies necessary to capitalize on emerging opportunities and succeed in the evolving market landscape."