The total revenue of mobile, console and PC games in China surpassed $45.5 billion last year, and is expected to hit $57 billion in 2027, according to new data from Niko Partners (via GamesIndustry.biz).
Per report, the country is still the biggest games market in the world with 31.7% of global mobile games revenue and 33.4% of PC games revenue generated domestically.
In addition, China-based companies drove 47% of the global mobile games revenue and 39% of the PC games revenue in 2022.
When it comes to the domestic market, 66% of the country’s revenue came from mobile games, while PC games and console games accounted for 31% and 3% respectively.
Meanwhile, Chinese tech giants Tencent and NetEase together drove 61% of domestic mobile and PC games revenue last year. But the market intelligence company said that there was a downward trend in this share when compared to the previous year, as a result of ‘’weak performance from legacy titles and a lack of new title launches.’’
“Chinese game companies are growing internationally, and they are making bold investments at higher rates than ever,’’ said Niko Partners CEO and Founder Lisa Hanson. ‘’PC games revenue generated overseas by Chinese owned companies rose by 22% in 2022 and is expected to grow by a 13.8% CAGR through 2027 – which is higher than the domestic growth rate by a significant margin.”
‘’China’s market can be tough for domestic and foreign companies, but the country remains the No.1 market globally for games revenue and the number of gamers, and cannot be ignored,’’ Hanson added.
According to another recent report from Niko Partners, China’s 2023 game approvals are set to surpass the last two years combined.