Puzzle Game Tracker – 4Q19 & CY19

This reports focuses on the puzzle gaming market, which we estimate reached $8.9bln in CY19 and accounted for approx. 13% of the entire mobile gaming industry. We project a 4-year CAGR (19-23E) of +7% with the puzzle game market reaching $11.6bln in CY23. King (owned by Activision Blizzard) is the largest puzzle game publisher, but is likely to be surpassed by Playrix this year.