China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion

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In Q3 2020, the Chinese mobile gaming market posted robust revenue growth. The industry generated 50.8 billion RMB ($7.56 billion). Compared to Q3 2019, that marked an increase of 25% and 3.14% higher than Q2 2020 revenue.

The third quarter of every year has always been considered the peak period for games as students are usually home for summer break. However, in 2020, the stay-home trend also contributed significantly to the quarter’s performance.

China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion

According to the research data analyzed and published by Safe Betting Sites, mobile games dominated the market during H1 2020. Mobile games accounted for 75.04%, generating 104.6 billion yuan ($15 billion. On the other hand, client network games had a 20.18% market share while browser games took 2.87%. Console and PC games got a 1.91% share.

The huge share of mobile games in the country makes China the leading market globally. Its lead position has to do with the fact that 60% of the country’s population consists of smartphone users. For this population, mobile devices are the most popular platforms for gameplay. In fact, 82% of gamers in the country use mobile phones, compared to 59% for PC users.

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Around 33% of gamers play games on their mobile devices every day, while another 33% play between three and six days weekly. 18% play once or twice every week.

China’s Mobile Game Market to Grow to $21.25 Billion in 2020

China accounts for over 25% of the global mobile game market according to Research and Markets. Golden Casino News estimates that in 2020, China could generate up to 40% of the total revenue from the global mobile games market.

During the first half of 2020, China’s mobile game market grew by 35.8% year-over-year (YoY), compared to 21.6% growth during a similar period in 2019.

According to a Statista forecast, revenue from the country’s mobile game segment is set to reach $21.25 billion in 2020. That would translate to a growth rate of 17.9% YoY. The report projects a compound annual growth rate (CAGR) of 2.1% between 2020 and 2025, driving the market volume to $23.58 billion by 2025.

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Based on Research and Markets data, the sector generated $18.5 billion in 2019. Its projection is a tad less conservative, estimating that the market will grow to $32 billion by 2024.

The rapid growth of the market has been going hand-in-hand with the number of players. There were about 381 million mobile gamers in China in 2017. By 2019, the figure had grown to 450.7 million. Statista projects that in 2020, the number of gamers will increase by 16.2% YoY to reach 523.5 million. By 2025, there could be up to 575.9 million mobile gamers in the country.

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China’s dominance of mobile gaming will also be felt in eSports. According to an iResearch report, the Chinese eSports market is expected to generate 140.57 billion yuan ($21 billion) in 2020.  Of this amount, mobile eSports games are projected to account for 46.1% of all revenue. On the other hand, PC eSports games’ revenue will account for 25% of the total. It is worth noting that the PC segment accounted for 42.7% of the industry’s revenue in 2017.

Moreover, over 50% of the global eSports revenue and more than 70% of mobile eSports revenue come from Asia. The region has over 500 million eSports fans and at least 600 million eSports players.

Revenue from Chinese Games Overseas Grows by 36.32% YoY in H1 2020

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Home-grown games dominate the market in China. In H1 2020, they accounted for 86% of all gaming revenue. Notably, Chinese games have gained considerable popularity in overseas markets.

The sales revenue of Chinese games overseas in H2 2019 was $6.02 billion, growing to $7.59 billion in H1 2020. It translated to an increase of 36.32%. In comparison, domestic sales grew by 30.38%.

Japan, the US and South Korea are the main targets for game developers in China, cumulatively accounting for almost 70% of the total revenue.

Meanwhile, in the mobile games segment, nine out of the top 52 gaming app publishers in 2020 come from China according to AppAnnie. Publishers from Asia make up more than half of the total and these include five from the top 10. The top two were Tencent and NetEase, both from China.

In 2019, mobile games from China accounted for an 18.5% share of the overseas market. During Q1 2020, they made up 19 of the top 100 highest-grossing games globally, accounting for 16.3% of the revenue generated by the top 100 titles. It marked a 15.3% YoY increase.

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China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand SpurChina’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

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China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand SpurChina’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

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GBG: Six predictions for the financial services and fraud landscape in 2021

By Dev Dhiman, Managing Director of GBG Asia Pacific

 

SINGAPORE - Media OutReach - 28 January 2021 - 2020 catapulted financial institutions forward in their implementation and optimisation of technology. According to 71% of Asia Pacific (APAC) technology decision-makers the pandemic has caused their organisations to step up digital transformation, while 70% of financial services organisations in APAC  believe innovation is now a "must", reflecting the impact of COVID-19 in shifting consumers and businesses to being digital-first.


When looking ahead at how financial institutions (FIs) will be impacted by these trends in 2021, there are six key ways in which FIs are expected to evolve.


1. COVID-19 drove a dichotomy in fraud technology investment


There is a distinct difference in investment between FIs in countries still heavily impacted by COVID-19, and those in the stages of emerging from the pandemic.


For countries that have yet to enter into a stable recovery period, FIs will be making a more conservative approach to overall investment and sustaining cashflow, but deprioritising investments in fraud technology could leave them unprepared for the potential rise in financial crime and fraud during financial hardship. FIs in Indonesia, Malaysia, Thailand, and the Philippines, which are seeing reinstatement or continued lockdowns in the country, may become even more hard-pressed for stronger fraud prevention technology to combat an increase in financial crime, as basic fraud systems may not adequately protect them against emerging and complex fraud typologies.


For FIs in Asia Pacific emerging from or preparing to emerge from the pandemic, such as Singapore, Australia, Vietnam, and Taiwan, while confidence will be relatively higher, spending will be cautious, as maintaining substantial cashflow will remain a priority. Rather than overhauling fraud and compliance systems, FIs would likely choose to recalibrate, update and optimise their digital onboarding as well as payments and transaction monitoring technology. Investments would be specific to address prominent gaps and data intelligence. Alternative data to onboard more challenging cohorts, creating readiness against cyber endpoint threats, and relationship analysis may be considered to address acquisition growth strategy and growing volumes and complexity of online fraud attacks.


2. Digital customer experience expectations will continue to skyrocket

 

Global ecommerce powerhouses like Alibaba and Amazon and has normalised expectations around customer experience (CX) including same-day delivery services, real-time shipping tracking, and more, in turn significantly impacting customers' CX standards for FIs. A recent study showed seven in 10 customers demonstrated a deeper loyalty to financial services and insurance companies that heavily invest in CX.


In 2021, the industry is already seeing FIs and fintechs race to deliver instantaneous services through new financial products, with GBG's latest research finding 31% of FIs in APAC planning to offer instant bank accounts and instant loans, 29% planning to offer instant credit cards, and 22% planning to offer user voice activated fund transfers and bill payments. To take CX to the next level, there is a probability that the financial services sector will explore replicating successes from other industries, such as retail businesses that have effectively used augmented reality (AR) and virtual reality (VR) technologies to re-create in-store experiences, which could be used by banks to create virtual in-branch experiences.


3. Cross-vertical collaboration and consumer data drill-down are re-shaping digitalisation standards

 

Collaborations amongst major enterprises in the digital banking space demonstrated the investment across seemingly unlikely industries in working together to effectively serve customers at scale. Last year, for example, Trip.com Group partnered with Standard Chartered, PCCW and HKT to launch a new virtual banking service and Asia's first all-in-one numberless bank card, Mox, while multinational ride hailing company Grab teamed up with Singtel to prepare to launch their own digital banking license in 2022. While both of these examples span multiple industries, they each highlight the impetus among businesses to use business partnerships to gain truly 360-degree views of their customers' needs.

Read Also:  4 Tips To Improving Your Career Outlook In 2020


Looking at 2021 and beyond, this collaborative mindset is likely to continue as government and regulatory bodies work together to focus on accelerating digital identity availability, while also teaming up with partners like telco providers, educational institutions and aggregators to create access to more comprehensive and accurate data sets. FIs would become more active in exploring the use and ingestion of incremental data sets, beyond the basic internal data and official sources, to feed into their core fraud engine and enhance fraud detection and prevention.


FIs have already reinvented partnerships to form new market propositions. This openness and innovation would spill over into fraud management and propel them to leverage on an expanded ecosystem to layer their data with intelligence from specialists in location, mobile data, devices, cybersecurity, data co-relation, and IP. This broader and deeper approach will more effectively equip FIs with appropriate fraud prevention capabilities as the world becomes increasingly digital-first.


4. Expanding availability of shorter-term credit offerings across SEA

 

The rise of Buy Now, Pay Later (BNPL) businesses has disrupted the credit landscape with shorter-term credit services for everyday purchases, faster or no credit checks, instant approvals, and "zero interest". New BNPL players across APAC have been setup and are quickly catching onto opportunities to offer new and more agile types of loans.


FIs need to remain vigilant in how BNPL products are rolled out, credits are distributed, and debts are managed. This ease in obtaining credit can lead to more exposure to higher risk borrowers. FIs focusing on growing their BNPL offerings need to build in stronger measures to onboard consumers who have the ability and intent to pay back what they have borrowed while keeping the standards of BNPL experience to ensure this revenue stream does not go sideways in the long term.


5. Mobile-first technology and data intelligence as fundamental building blocks for dynamic digital onboarding and transacting

 

Mobile devices are widely used to accelerate the digital onboarding and transacting process. FIs are automating the identity verification journey and streamlining biometric and facial verification, document verification and data match altogether in instant KYC.


Today, mobile devices do more than enabling the identity verification process. In Southeast Asia, seven in 10 adults are either "underbanked" or "unbanked"and excluded from many traditional financial services. FIs have begun to ascertain the quality of consumers with limited identity documentation, or thin file clients, leveraging their mobile phones as a personal identity verification device.


Mobile metadata, device usage patterns and SIM card records are alternatives to traditional verification methods, datasets and data sources. These alternatives offer data intelligence that FIs could use to fill gaps in physical records, providing assessment and validation to the authenticity and quality of consumer profiles and borrowing intent of these untapped segments.

 

6. Socially engineered first party fraud and identity crimes taking on a new level of complexity

 

Bringing together the above trends and predictions, the combination of accelerated digital transformation among businesses, skyrocketing consumer usage of social media, ecommerce, ebanking and online platforms, and increased collaboration across FIs and non-bank organisations result in growing opportunities for fraudsters and crime syndicates to mine data.


Consequently, socially engineered first party fraud, identity crimes like synthetic ID and impersonations would take on a new level of detection complexity. FIs have a responsibility to counter these attacks, proactively manage the growing volume of channels where bad actors can access personal information, and guard against financial crime and identity theft. As such threats continue to broaden alongside other industry-wide trends, consumers' expectations of FIs' commitments to protecting and futureproofing their financial services and products will also grow.


Organisations will need to reflect their commitments to customer satisfaction and retention with more sophisticated and agile approaches to fraud prevention and fraud technology investments.


About GBG:

GBG offers a range of solutions that help organisations quickly validate and verify the identity and location of their customers.


Our market-leading technology, data and expertise help our customers improve digital access, deliver a seamless experience, and establish trust so that they can transact quickly, safely and securely with their customers online.


Headquartered in the UK and with over 1,000 team members across 16 countries, we work with 20,000 customers in over 70 countries. Some of the world's best-known businesses rely on GBG to provide digital services and keep the economy moving, from US e-commerce giants to Asia's biggest banks and European household brands.


To find out more about how we help our clients establish trust with their customers, visit www.gbgplc.com/apac, follow us on Twitter @gbgplc or China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand SpurLinkedIn.


China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

Oppa Kim Woo Bin arrives in Singapore!

SINGAPORE - Media OutReach - 28 January 2021 - DAEBAK! Fans can now meet the one and only figure of Woo-bin for a limited period, right here in Singapore. The popular Korean actor once again joins his co-star Bae Suzy from "Uncontrollably Fond", but this time at Madame Tussauds Singapore!

 

China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

To celebrate the opening of the Brand new K-wave zone at Madame Tussauds

 

The world famous wax attraction brought in Kim Woo Bin to celebrate the opening of their brand new K- wave zone, which opened today to the public. Fans can gather around some of their favourite Korean stars, while snapping Insta worthy shots in front of iconic Korean themed sets.

China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

 

The eyecatching Cherry Blossom tree takes center stage in the new zone. With cherry blossoms that change colour, this is the perfect spot to bring your date for #couplegoals pics. Missing Korea as much as we do...we've got you. Wander away and pose in front of the hanoks with Kim Woo Bin. Or shoot your boomerangs in front of the pretty cherry blossom flower wall and inspire your friends on where to shoot their next OOTD.


China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur 

China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

 

Madame Tussauds Singapore is based at Imbiah Lookout. Come and enjoy the brand-new K-wave zone with the SingapoRediscovers Vouchers. Visit the family fun attraction and get 5 experiences for only 1 ticket. For more information on how to redeem these vouchers and to know what the 5 experiences are, please visit our website www.madametussauds.com/Singapore.


Twitter: @MTsSingapore
Instagram: @MTsSingapore
Facebook: @MadameTussaudsSingapore Hashtag: #MadameTussaudsSG


For high res images: China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spurhttps://www.dropbox.com/sh/khx2r1v9o12bn1m/AADTz9_nBt9DK7i3gnm1cNeQa?dl=0


Madame Tussauds

The ultimate celebrity experience and the world's best known and most popular wax attraction. There are currently 23 Madame Tussauds attractions around the world. Each of the attractions is unique and tailored to the host city and visitor demographic to feature both local as well as international figures.

The result of 200 years of expertise and painstaking research every figure takes Madame Tussauds' gifted sculptors a minimum of three months to make, and costs more than $300K (Singapore dollars). Most contemporary figures are also produced following sittings with the celebrities themselves.

China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

SugarCRM Launches SugarPredict to Take the Guesswork Out of Sales with AI for All

CUPERTINO, CALIFORNIA - Media OutReach - 28 January 2021 - SugarCRM Inc., the innovator of time-aware CX, today announced the launch of SugarPredict, the first data-fueled AI for CRM. SugarPredict delivers new levels of prediction accuracy without the time, cost, and technical expertise typically required for companies to take advantage of AI.

 

Fifty-two percent of sales leaders say their CRM is costing them lost revenue, according to new research from SugarCRM that examines the lack of customer visibility that plagues most companies. The quality and consistency of the data entered by CRM users can create challenges for basic AI systems. SugarPredict takes a different approach by enriching customer data with additional attributes that results in more comprehensive and consistent AI models. SugarPredict provides accurate predictions, even with limited first-party data, while diligently guarding the privacy and security of company and customer information.

 

"AI can solve a number of sales and marketing barriers today, putting it at the heart of CRM," said Paul Greenberg, president of the 56 Group and author of CRM at the Speed of Light. "Sales teams that lean into AI-powered CRM can take advantage of the lead insights and opportunity models that give them a significant competitive advantage." 

 

As the first of many SugarPredict-powered capabilities in Sugar Sell, the technology is being used to take the guesswork out of lead prioritization, lead Ideal Customer Profile (ICP) alignment, and opportunity-to-close-won scoring. SugarPredict analyzes historical account, deal, and company data to accurately predict which leads are most likely to become customers. Lead scoring is based on similarity to historical conversions (converted leads or closed-won opportunities), while ideal customer profile matching identifies leads that are similar to a company's past and current customer bases.

 

"SugarPredict helps companies replace a fragmented, out-of-date, and incomplete picture with a sharply focused understanding of both their customers and business," said Craig Charlton, CEO of SugarCRM. "We've made significant product investments, over the last year, to democratize AI to drive business performance and enable predictability for companies of all sizes."

 

"Like many companies in the manufacturing business Bishop-Wisecarver is always looking for ways to work smarter and faster than the competition", said Niegel Leoncio, CRM Manager for Bishop-Wisecarver. "We are excited about the launch of SugarPredict, which places the power of AI into the hands of sales and service teams so they can drive better results and a better customer experience."   

 

SugarPredict leverages Sugar's time-aware CX platform which provides a full historical record of all change events related to customers and customer-facing processes. SugarPredict for sales force automation, marketing automation, and customer service applications is based on technology from last summer's acquisition of Node.io. SugarPredict is free for Sugar Sell customers and will roll out to Sugar Market and Sugar Serve customers later this year.

 

Learn more about SugarPredict here.


About SugarCRM

SugarCRM's time-aware sales, marketing and service software helps companies deliver a high-definition (HD-CX) customer experience. For mid-market and enterprise companies that want  a CX-driven platform, Sugar gives teams the time-aware customer data they need to achieve a clear view of the customer and reach new levels of business performance and predictability, and increase customer lifetime value.

 

More than 4,500 companies in 120 countries rely on SugarCRM. Based in Silicon Valley, SugarCRM is backed by Accel-KKR. 

China’s Mobile Gaming Sector Posts 25% Revenue Growth in Q3 2020 Hitting $7.56 Billion - Brand Spur

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