Games - Baltics | Statista Market Forecast

Games - Baltics

Baltics

Highlights

In the Baltics, revenue in the Games market is projected to reach US$246.20m in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.56%, leading to a projected market volume of US$338.20m by 2029.
In global comparison, the majority of revenue will be generated United States, which is estimated to reach US$128.10bn in 2024.
Within the Games market in the Baltics, the number of users is anticipated to reach 1.6m users by 2029.
User penetration in the Baltics will be 25.8% in 2024 and is projected to increase to 29.5% by 2029.
The average revenue per user (ARPU) in the Baltics is expected to amount to [arpu_firstmarket_yeartoday].
The Baltic States are witnessing a surge in mobile gaming development, reflecting a growing appetite for innovative digital entertainment among local audiences.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Games market in Baltics has been experiencing significant growth in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Games market have shifted towards digital gaming, with a growing demand for mobile and online games. This can be attributed to the increasing availability of smartphones and high-speed internet connections, which have made gaming more accessible to a wider audience. Additionally, there is a growing interest in multiplayer and social gaming, as players seek to connect and compete with others online. These customer preferences align with global trends in the gaming industry, where digital and online gaming have become dominant forms of entertainment. Trends in the market also contribute to the development of the Games market in Baltics. The rise of esports, or competitive video gaming, has gained significant popularity in the region. This has led to the establishment of professional esports teams and the organization of local and international tournaments. The growing esports scene has not only attracted a dedicated fan base but has also created new business opportunities in areas such as event management, sponsorship, and streaming services. This trend reflects the global growth of esports, which has become a billion-dollar industry. Local special circumstances in the Baltics have also played a role in the development of the Games market. The region has a high level of digital literacy and a tech-savvy population, which has created a favorable environment for the growth of the gaming industry. Additionally, the relatively small size of the Baltics has allowed for close collaboration and knowledge sharing among local game developers, leading to the emergence of a vibrant indie game development scene. This has resulted in the creation of unique and innovative games that cater to both local and international audiences. Underlying macroeconomic factors have also contributed to the growth of the Games market in the Baltics. The region has experienced steady economic growth in recent years, which has increased disposable income and consumer spending. This has allowed individuals to allocate more of their budget towards entertainment, including gaming. Furthermore, the Baltic countries have made investments in infrastructure and education, which have supported the development of the gaming industry. These macroeconomic factors have created a conducive environment for the growth and expansion of the Games market in the region. In conclusion, the Games market in the Baltics is developing rapidly due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards digital gaming, the rise of esports, the tech-savvy population, and the favorable economic conditions have all contributed to the growth and success of the Games market in the Baltics.

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.