Market Insights Advertising & Media Media

Games - Bulgaria

Bulgaria

The revenue in the Games market in Bulgaria is forecasted to reach US$167.40m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.16%, leading to a projected market volume of US$215.30m by 2029.
When compared globally, the majority of revenue is predicted to be generated in China (US$128.90bn in 2024).
Within the Games market, the number of users is expected to reach 1.6m users by 2029.
User penetration is projected to be 22.4% in 2024 and is expected to increase to 25.8% by 2029.
The average revenue per user (ARPU) is forecasted to amount to [arpu_firstmarket_yeartoday].
Bulgaria's gaming media market is experiencing a surge in local game development, fostering a vibrant ecosystem for gamers and industry professionals alike.

Key regions: United Kingdom, Germany, India, United States, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Games market in Bulgaria has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of gaming worldwide. Customer preferences in the Games market in Bulgaria have shifted towards digital platforms, with a growing preference for online gaming and mobile gaming.

This can be attributed to the increasing availability and accessibility of smartphones and high-speed internet connections. Additionally, the younger generation is more inclined towards mobile gaming due to its convenience and the wide variety of games available on mobile app stores. Trends in the market also indicate a rise in the popularity of eSports in Bulgaria.

eSports refers to competitive video gaming, where professional gamers compete against each other in organized tournaments. This trend has gained traction globally and has also found a strong following in Bulgaria. The rise of eSports has led to an increase in the demand for gaming accessories, such as high-performance gaming mice, keyboards, and headsets.

Local special circumstances in Bulgaria have contributed to the growth of the Games market. The country has a relatively young population, with a high percentage of tech-savvy individuals. This demographic is more likely to engage in gaming activities and adopt new gaming technologies.

Additionally, the affordability of gaming devices and internet services in Bulgaria has made gaming more accessible to a larger portion of the population. Underlying macroeconomic factors have also played a role in the development of the Games market in Bulgaria. The country has experienced steady economic growth in recent years, which has increased disposable incomes and consumer spending power.

This has allowed more individuals to invest in gaming devices and accessories, driving the growth of the market. In conclusion, the Games market in Bulgaria is experiencing significant growth due to changing customer preferences, the rise of eSports, local special circumstances, and underlying macroeconomic factors. The shift towards digital platforms, the popularity of mobile gaming, and the increasing demand for gaming accessories are all contributing to the growth of the market.

With the continued development of technology and the increasing availability of high-speed internet, the Games market in Bulgaria is expected to continue its upward trajectory in the coming years.

Methodology

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.