We are focused on the fast-growing multi-billion-dollar games market, which accounted for approximately USD 152 billion of consumer spending in 2019 (and is expected to grow by 9.1% annually through 2022E).
Mobile games, including smartphone and tablet games, constitutes the largest (45%) and fastest-developing part of the global games market accounting for approximately $69 billion (45%) of consumer spending in 2019, with an expected annual growth rate of 12.6% through 2022E
At its core, gaming can be described as a universal language connecting people through shared passion, objectives and experiences. Over the past several years, gaming has become ever more mainstream. In 2019 there were approximately 2.5 billion gamers worldwide across a variety of platforms and it is projected that this number will grow to 3.1 billion by 2023.
Mobile gaming provides access to every level and type of demographic. The industry features low barriers to entry, but high barriers to success, which makes consolidation a likely outcome with players like Huuuge well positioned to benefit from it.