![](https://www.pymnts.com/wp-content/uploads/2022/12/Mobile-games.jpg)
By: Rahul Medappa, Miranda Cole & Nils Rahlf (Norton Rose Fulbright)
After experiencing a surge due to the COVID-19 pandemic, the gaming market faced a slowdown, witnessing a year-on-year contraction of 4.3%, bringing the total to US$184.4bn in 2022. However, a positive turn occurred in 2023, as the market rebounded, reaching US$188bn and paving the way for anticipated annual growth of 8.94% until 2028.
Despite the overall growth in the sector during 2023, mergers and acquisitions (M&A) activity, encompassing private equity, growth equity, and venture capital, made a comeback to pre-pandemic levels. In contrast, the market for public listings of private gaming companies remained subdued.
One notable standout in the gaming landscape is the mobile gaming sector, which has outperformed the industry at large. In 2023, it contributed 49% of the total revenues, amounting to US$92.6bn. Projections indicate that by 2026, mobile gaming is expected to claim an even more significant share, accounting for up to 55% of the total gaming revenue…
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