In 2020, the global gaming market generated an estimated $177.8 billion. Smartphone games account for the largest share, having generated 43 percent of the total amount which equates to $74.9 billion. The next largest share belonged to console games which generated $51.2 billion in revenue for 2020.

Boxed/downloaded PC games also generated a significant amount of revenue with 34.2 in 2020 followed by the moderate earnings of Tablet games and Browser PC games which made $11.4 billion and $3.2 billion each.

2020 was a big year for the global gaming industry, as lockdowns kept a majority of the world indoors for a time, increasing video game engagement across the board. Because of the dramatic and unexpected spike experienced in 2020, the global games market is actually expected to contract in 2021 by 1.1 percent to just $175.8 billion.

Smartphone games are projected to experience the highest growth in 2021 with a projection of a 4.7 percent year on year increase to $79 billion. The only other segment that is expected to grow in 2021 is the Tablet Games segment which is projected to earn $11.6 billion in 2021 - a two percent year on year increase from 2020.

Revenue from Browser PC Games is expected to have the largest contraction in 2021 at -18 percent year on year, with projected earnings to be less than $3 billion this year. Console Games are also expected to dip in 2021 after having a big year in 2020 with the release of the next generation consoles of both Playstation and Xbox. Revenue from consoles is expected to be just under $50 billion in 2021 after crossing the $50 billion mark in 2020.

Rex Pascual, Esports editor at 123scommesse, said: “Since smartphones became technologically capable of operating high-performance games, it has become the most lucrative source of revenue for the video game industry. As smartphones become even more and more technologically advanced, expect the smartphone market to gain an even larger share of the global gaming market in the coming years.”