Games - Bulgaria | Statista Market Forecast

In Bulgaria, revenue in the Games market is projected to reach US$167.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.16%, resulting in a projected market volume of US$215.30m by 2029.
In global comparison, the majority of revenue will be generated United States, which is forecasted to reach US$128.10bn in 2024.
In the context of Bulgaria's Games market, the number of users is expected to amount to 1.6m users by 2029.
User penetration in Bulgaria will be 22.4% in 2024 and is anticipated to increase to 25.8% by 2029.
The average revenue per user (ARPU) is expected to amount to [arpu_firstmarket_yeartoday].
Bulgaria's gaming industry is rapidly evolving, with increasing investment in mobile games reflecting the country's growing digital infrastructure and youthful consumer base.

Definition:

The games market refers to the entire industry involved in the creation, development, publishing, distribution, and monetization of video games. This market encompasses a wide range of products, including console games, PC games, mobile games, and online games. It also includes hardware and accessories such as gaming consoles, controllers, and virtual reality headsets. The games market is a rapidly growing industry, with millions of people worldwide playing video games and billions of dollars in revenue generated each year.

Structure:

The games market contains out of several different markets, such as Physically Sold Video Games, Mobile Games or Cloud Gaming. Information on all the other markets can be found on the relevant page.

Additional Information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through in-game purchases, consumer spending on games, and subscription fees. Additional definitions for each market can be found within the respective market pages. Market numbers for download games, mobile games, online games and gaming networks can also be found in the digital market insights in the video games market. Key players in the market are companies like Activision (Call of Duty), PUBG Mobile or GeForce Now. For more information on the data displayed, use the info button right next to the boxes.

Games Live Streaming, such as Twitch
Download Games, such as downloading from Steam
Cloud Gaming, such as GeForce Now
Mobile Games, such as PUBG Mobile
online and offline sales, such as from physical stores or online shops

Demo/Trial versions of video games
Free-to-play gaming apps

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.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.