The country’s games market reached $45.5 billion in revenue just in 2022.
It is no secret that China holds a high flag regarding the gaming industry and the revenue it has generated in its country. But what surprises most people is the recent report that China's games market reached $45.5 billion in revenue in 2022.
Not only that, but the entire games market in China is expected to grow to $57 billion by 2027.
China's games market reached $45.5 billion in revenue in 2022
With a large market made up primarily of PC, console and mobile, the entire games market in China has boomed over the last year. Chinese Mobile game companies have not only led the industry within the country but also account for 47% of mobile games revenue shared worldwide, a recent report by Niko Partners showed.
Even China's PC games revenue has accounted for 39% of revenue worldwide.
But what about the country's domestic revenue within the gaming industry?
China's domestic revenue shares per device (PC/Console/Mobile):
- PC: 31%
- Console: 3%
- Mobile: 66%
China is expected to have upwards of 730 million gamers by 2027. The gaming industry is growing rapidly worldly but is showing a rapid shoot upward in China like no other.
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Tencent and NetEase lead the country in gaming revenue
2022 was a solid year for both Tencent and NetEase. The two companies held a combined share of 61% of PC and Mobile games revenue in China.
"Chinese game companies are growing internationally, and they are making bold investments at higher rates than ever," said Lisa Hanson, CEO and Founder of Niko Partners. "PC games revenue generated overseas by Chinese-owned companies rose by 22% in 2022 and is expected to grow by a 13.8% CAGR through 2027 – which is higher than the domestic growth rate by a significant margin."
The Country has been known for quite some time now to be a struggle for many domestic and foreign companies, but this has not stopped the gaming industry from rising domestically.
"China’s market can be tough for domestic and foreign companies, but the country remains the No.1 market globally for games revenue and the number of gamers, and cannot be ignored."
Let it be noted, that games such as VALORANT and working on making their platform available in China. This will only help the gaming industry rise domestically.
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