Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Belgium has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Games market have shifted towards digital and mobile gaming, with an increasing number of consumers opting for online gaming platforms and mobile apps. This trend can be attributed to the convenience and accessibility of digital gaming, as well as the growing popularity of smartphones and tablets. Additionally, there has been a rise in the demand for multiplayer and social gaming experiences, as players seek to connect and compete with friends and other players online. In terms of trends in the market, Belgium has seen a surge in the popularity of eSports, which has become a major industry worldwide. eSports refers to competitive video gaming, where professional players compete in tournaments and leagues. The rise of eSports in Belgium can be attributed to the growing interest in competitive gaming and the increasing number of eSports events and competitions being organized in the country. This trend has also been fueled by the development of dedicated eSports arenas and the emergence of professional eSports teams and organizations in Belgium. Another trend in the Games market in Belgium is the increasing demand for virtual reality (VR) and augmented reality (AR) gaming experiences. VR and AR technologies provide immersive and interactive gaming experiences, allowing players to fully immerse themselves in virtual worlds or overlay digital elements onto the real world. This trend can be attributed to advancements in technology and the availability of affordable VR and AR devices. Local special circumstances also play a role in the development of the Games market in Belgium. The country has a strong gaming culture and a vibrant gaming community, with a large number of local game developers and studios. This has contributed to the growth of the industry and the availability of diverse and innovative games in the market. Additionally, Belgium has a high internet penetration rate and a strong infrastructure, which has facilitated the adoption of online gaming and digital distribution platforms. Underlying macroeconomic factors, such as the overall economic growth and disposable income levels in Belgium, also influence the Games market. As the economy grows and consumers have more disposable income, they are more likely to spend on entertainment and leisure activities, including gaming. Furthermore, the increasing popularity of gaming as a form of entertainment has led to the expansion of the market, with more players and a larger player base. Overall, the Games market in Belgium is experiencing growth due to changing customer preferences, the emergence of new gaming trends, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected to present new opportunities for game developers, publishers, and other stakeholders in the industry.
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.
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