The gaming industry in China is projected to reach a revenue of $47.7 billion, experiencing a 5.2% growth in 2023
In a notable turnaround, China's gaming sector is set for a robust resurgence in 2023, overcoming setbacks from the previous year. The China Games Market 2023 Half-Year Update Report by Niko Partners reveals an anticipated $47.7 billion in gaming revenues this year, marking a significant 5.2% year-over-year growth.
Several factors contribute to this optimistic outlook. A consistent flow of gaming approvals from regulatory bodies, successful game launches resonating with the gaming community, and increased spending on established titles all play crucial roles. The industry's resilience is further enhanced by continued accessibility to PC and console games even before official approvals.
The report paints a positive trajectory for China's gaming industry, forecasting revenues to surpass $56.7 billion by 2027. This optimism aligns with a more stable regulatory environment and a notable upswing in player expenditures.
While the total number of gamers in China is expected to increase gradually, the growth rate is anticipated to be 1.63% in 2023, surpassing 710 million. Looking ahead, a projected compound annual growth rate of 1% aims to elevate the player base to 735 million by 2027.
These revised projections highlight the resilience of China's gaming market, offering a promising outlook for industry stakeholders, investors, and gaming enthusiasts alike. The industry's ability to navigate challenges and exhibit growth reflects its dynamic nature and the enduring appeal of gaming in China. Notably, China maintains its global leadership in the mobile gaming arena, with user spending estimated to reach $42.4 billion.
Source: adapted from an article by Gizem Yilmaz, Author of Archives for Mobile Marketing Reads.