Forecast: The US to Drive 40% of Mobile Gaming Revenue Growth in 2024

A recent report by Data.ai reveals that mobile gaming revenue is expected to rise by 4% year-over-year, reaching $111.4 billion in 2024. This growth is anticipated despite a predicted 3% decline in consumer spending in 2023, to $107.5 billion. The surge in popularity of certain genres, including RPGs, match-three titles, and party games, is expected to contribute significantly to this growth, with RPG and match-three games accounting for one-fifth of the revenue. The US is forecasted to account for 40% of the year-over-year growth in the mobile market, while countries like Japan, South Korea, Taiwan, Germany, and the UK are also expected to see an increase in consumer spending. However, the rise of alternative app stores and regulatory issues in markets such as China may impact growth. Notably, the report predicts that TikTok will become the highest-grossing app, reaching $14.6 billion in 2024, with a 70% year-over-year growth in consumer spending in 2023. If this forecast holds, TikTok's growth will outpace Candy Crush by 3.7 times, making it the first non-game app to surpass a mobile game in quarterly consumer spending. Additionally, an estimated 2.3 billion mobile app downloads will incorporate some form of generative AI, particularly in video and photo editing apps.