Globally, users downloaded 45 per cent more mobile games per week in Q1 2021 from pre-pandemic levels, clocking in at over 1.1 billion games per week.
"We are seeing greater diversity across gaming genres allowing publishers to serve new gamers across generations and genders," said Lexi Shadow, Head of Market Insights, data.
In Q1 2022, consumers spent over $1.6 billion per week on mobile games on iOS and Google Play, up 30 per cent from pre-pandemic levels, the report mentioned.
"Asia Pacific saw the biggest growth in market share for global consumer spend," the findings showed.
China led the growth in Q1 2022 while North America and Western Europe made up half of mobile game spend.
"Studios and publishers should emphasize rewarded videos and playable, and that contextual data about gamers will grow more important over time as Apple, Google, other vendors, and regulatory bodies in several key countries prioritize customer data privacy and security," explained Lewis Ward, Director of Gaming and VR/AR, IDC.
Mobile genre preferences are more varied, with 8 distinct subgenres being represented among the top 10 games.
"Core Games with real-time online features such as PVP (player-versus-player) or cross-platform play among the most popular genres across the gaming spectrum like PUBG Mobile," said the report.
Nearly 50 per cent of top mobile games by consumer spend in the United States skew female, while Gen X and Baby Boomers saw steady growth in mobile game spending.
"Mobile is democratizing the space and is now the primary driver of growth for digital games consumption," Shadow noted.
Video gaming market slowing down, says Nvidia; shares fall by 7%
Nvidia Corporation, a chip designing company, forecasted a drop in video game chip sales in the current quarter, and surprised some analysts by setting out additional supply-chain difficulties stemming from China's COVID-19 restrictions.
According to Reuters, Nvidia's gaming industry profit will go down by the mid-teens in the current quarter compared to the prior quarter.
Nvidia shares fell 6.7 percent in extended trading despite the company's first-quarter revenues and profitability exceeding analyst projections. The stock has lost about 40% of its value this year, following a broader selloff in growth firms fueled by concerns about the Federal Reserve's quick interest rate hikes.
Concerns about inflation are spreading throughout the US economy as customers contemplate purchases such as computers and video gaming consoles
In the second quarter, Nvidia estimates sales of $8.10 billion, plus or minus 2%. Analysts predicted an average of $8.45 billion, according to Retinitis IBS figures.
The lowered revenue forecast included a $500 million decline in income due to the COVID shutdowns in Russia and China. According to Chief Financial Officer Colette cress, the $500 million figure includes around $400 million in lost game sales in China and Russia, as well an additional $100 million in missed data center purchases in Russia.
Nvidia's gaming company benefits would decrease by a percentage point in the current quarter, according to CEO Jensen Huang, if we compare it to the previous quarter.
Nvidia shares fell 6.7% in extended trading, even though the company's first-quarter revenues and earnings topped analyst estimates.
You must be logged in to post a comment.