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Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Armenia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Games market have shifted towards mobile gaming, with a growing number of consumers opting for gaming on smartphones and tablets.
This trend can be attributed to the increasing affordability and accessibility of mobile devices, as well as the convenience of playing games on the go. Additionally, there has been a rise in demand for online multiplayer games, as consumers seek social interaction and competition in their gaming experiences. Trends in the market indicate a shift towards free-to-play games with in-app purchases.
This business model allows developers to reach a wider audience by offering games for free, while generating revenue through microtransactions. This trend has been fueled by advancements in technology, which have made it easier for developers to create and distribute games digitally. Furthermore, the rise of esports has gained traction in Armenia, with an increasing number of gamers participating in competitive gaming tournaments and events.
Local special circumstances have also contributed to the growth of the Games market in Armenia. The country has a young population, with a high percentage of tech-savvy individuals who are enthusiastic about gaming. This demographic factor has created a strong demand for games and gaming-related products and services.
Additionally, the availability of high-speed internet and the proliferation of internet cafes have made gaming more accessible to a wider audience. Underlying macroeconomic factors have played a role in the development of the Games market in Armenia. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending.
As a result, more individuals are able to afford gaming devices and invest in gaming experiences. Furthermore, the government has implemented policies to support the development of the technology sector, which has created a favorable environment for the Games market to thrive. In conclusion, the Games market in Armenia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.
The shift towards mobile gaming, the rise of free-to-play games, the popularity of esports, the young demographic, the availability of high-speed internet, and the country's economic growth all contribute to the development of the Games market in Armenia.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.Mon - Fri, 9am - 6pm (EST)
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