Why it matters: Consumer spending on mobile gaming has skyrocketed over the last half decade, leaving other platforms like home consoles, handhelds and the computer in the dust. And according to a new joint report out today, the trend isn't expected to deviate in 2021.
A new report out from app analytics firm App Annie and International Data Group (IDC) reveals that worldwide consumer spending on mobile games is expected to reach $120 billion this year. The next closest competitors, the PC and Mac, are only forecast to bring in a collective $41 billion.
Home consoles are expected to be just behind that at $39 billion with the handheld market (now exclusively driven by the Nintendo Switch) bringing up the rear with $4 billion.
Consumers are also spending more on in-game purchases than ever before. In the first quarter of 2021, consumers spent $1.7 billion per week on in-game items.
One of the bigger takeaways here is that demand for mobile gaming has remained strong more than a year into the Covid-19 pandemic. Looking at the data and using Q4 2019 as a basis, we see that average weekly game downloads were up 30 percent in Q1 2021. Spending, meanwhile, increased 40 percent over the same period.
Image credit Tero Vesalainen
Mobile game spending is leaving other platforms in the dust