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