By Sagar V. Mankar 
The Chinese gaming market demonstrated steady growth in 2024, expanding by 7.53% year-over-year and reaching an impressive value of $44.8 billion (325.8 billion yuan). This marks a significant milestone, even though the growth rate has slowed compared to the double-digit figures seen in previous years. In comparison, 2023 recorded a 14% growth, with market revenue standing at $41.62 billion (303 billion yuan). Despite the deceleration, this year’s sales represent the highest annual revenue since tracking began in 2003.
The number of gamers in China rose modestly by 0.94%, reaching a total of 674 million players. This consistent increase indicates the market’s enduring appeal, driven by new game releases and growing engagement across different platforms.
Mobile Gaming Dominates Revenue Share
Mobile gaming remains the primary driver of China’s gaming industry, contributing 73% of total revenue. The segment generated $32.7 billion (238.2 billion yuan) in 2024, marking a 5% increase from the previous year. However, this growth reflects a notable slowdown compared to the 17.5% surge seen in 2023. Despite the reduced pace, mobile gaming continues to be the backbone of the industry, supported by innovative titles and expanding player bases.
On the other hand, PC gaming accounted for 20.9% of the total revenue, bringing in $9.36 billion. Interestingly, this segment exhibited robust growth of 20.9% in 2024, showcasing resilience and sustained interest from dedicated PC gamers.
Chinese Games Find Success in Global Markets
Chinese gaming companies also made significant strides in international markets, earning $18.6 billion in revenue overseas—a 13.4% year-over-year increase. This growth marks the first positive overseas sales trajectory in three years, indicating a rebound in global demand for Chinese-developed games.
The United States emerged as the largest overseas market, contributing 31.1% of total international revenue. Japan followed with 17.3%, while South Korea accounted for 8.9%. Notably, Saudi Arabia entered the top 10 foreign markets, highlighting the region’s rising interest in gaming and esports.
A Breakthrough Year with Homegrown AAA Titles
A major highlight of 2024 was the release of China’s first AAA game, Black Myth: Wukong, developed by Game Science and backed by Tencent. The game shattered records, selling over 10 million copies within four days of launch and surpassing 20 million units within its first month. This milestone reflects the growing capability of Chinese studios to create globally competitive titles.
The success of Black Myth: Wukong contributed significantly to record quarterly sales in Q3 2024, which surged by 9% year-over-year to 91.8 billion yuan. Such achievements underscore the industry’s potential to produce high-quality content capable of capturing global audiences.
Sources: China Audio-Video and Digital Publishing Association, Industry Reports (2024).