Mobile games are the fastest-growing part of the digital marketplace, according to research firm App Annie.
This week, the mobile games market was worth $1.1 billion, which is up nearly 22% from last year.
Mobile games are a new way for businesses to compete in an ever-changing marketplace.
According to App Annie, “The mobile gaming market is expected to grow from $1 billion in 2016 to $2.5 billion in 2020.”
Mobile games aren’t limited to the big companies, either.
“A wide variety of mobile and PC-based companies have launched games in the mobile space over the last five years,” App Annie writes.
Zynga: Zyngas popular multiplayer mobile game, The Hunting Dogs, is a popular game with more than 60 million players.2.
Apple: App Annie estimates that Apple’s popular App Store had more than 10 million games in 2016, and that App Store revenue will increase to $5.7 billion by 2020.3.
Amazon: App-store revenue will reach $3.5 million by 2020, App Annie says.4.
Nintendo: Nintendo’s popular Super Mario Bros. series was one of the most successful games on the App Store in 2016.5.
Amazon and Google Play: The companies say that they plan to add more than 100 new games to the Appstore in 2020, which will make it one of “the fastest-spreading categories.”
App Annie is also tracking the growth of other mobile gaming platforms, like gaming-only mobile games and mobile-focused games, which are not part of a game.
“With so many players competing in so many different game genres, it’s no wonder that there’s so much room for growth,” App- Annie writes of the “games and apps” category.
The study also found that mobile games are also becoming more popular.
According the research firm, mobile games had more sales revenue in 2016 than desktop and laptop games combined.
App Annie also notes that mobile apps are now valued at nearly $300 billion.
“Mobile gaming is on track to outsell desktop and laptops by 2020,” App Announcers Michael Fagan and John Leggett wrote in the report.
“Mobile game revenue is expected grow at a compound annual growth rate (CAGR) of 9% to 12% from 2016 to 2020.”