Market Insights Advertising & Media Media

Games - Caribbean

Caribbean

In the Caribbean, revenue in the Games market is projected to reach US$956.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.51%, resulting in a projected market volume of US$1,374.00m by 2029.
In global comparison, most revenue will be generated United States (US$128.10bn in 2024).
In the Games market in the Caribbean, the number of users is expected to amount to 13.1m users by 2029.
User penetration will be 27.5% in 2024 and is expected to hit 31.5% by 2029.
The average revenue per user (ARPU) is expected to amount to [arpu_firstmarket_yeartoday].
In the Caribbean, the games media market is experiencing a surge in mobile gaming popularity, reflecting the region's increasing internet accessibility and youth engagement.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Games market in Caribbean has seen significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Caribbean have shifted towards digital gaming, with an increasing number of consumers opting for online gaming platforms and mobile gaming apps. This can be attributed to the convenience and accessibility of these platforms, as well as the growing popularity of multiplayer online games. Additionally, there is a growing demand for virtual reality (VR) gaming experiences, as consumers seek more immersive and interactive gameplay. Trends in the market include the rise of esports in the Caribbean, with an increasing number of tournaments and professional gaming teams emerging in the region. This trend is driven by the growing popularity of competitive gaming globally, as well as the increasing availability of high-speed internet and gaming infrastructure in the Caribbean. Furthermore, there is a growing interest in game streaming and content creation, with many gamers in the Caribbean becoming influencers and creating their own online communities. Local special circumstances in the Caribbean, such as the tourism industry and cultural diversity, also contribute to the development of the Games market. The Caribbean is a popular tourist destination, attracting visitors from around the world. This presents opportunities for gaming companies to target tourists with gaming experiences tailored to their preferences. Additionally, the cultural diversity in the Caribbean provides a unique market for localized games that cater to specific cultural themes and preferences. Underlying macroeconomic factors, such as economic growth and increasing disposable income, play a significant role in the development of the Games market in the Caribbean. As the Caribbean economies continue to grow, consumers have more purchasing power to spend on entertainment and leisure activities, including gaming. Furthermore, technological advancements and infrastructure development support the growth of the Games market, as improved internet connectivity and access to gaming devices make gaming more accessible to a larger population. In conclusion, the Games market in the Caribbean is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital gaming, the rise of esports and game streaming, the influence of the tourism industry and cultural diversity, and the economic growth in the region all contribute to the growth and development of the Games market in the Caribbean.

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.