Games - Chile | Statista Market Forecast

Games - Chile

Chile

Highlights

In Chile, revenue in the Games market is projected to reach US$1.09bn in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.89%, resulting in a projected market volume of US$1.59bn by 2029.
In global comparison, most revenue will be generated United States, which is estimated to reach US$128.10bn in 2024.
In the Games market in Chile, the number of users is expected to amount to 7.5m users by 2029.
User penetration will be 33.6% in 2024 and is anticipated to hit 37.9% by 2029.
The average revenue per user (ARPU) in Chile is expected to amount to US$831.40.
In Chile, the Games in the Media market is witnessing a surge in mobile gaming popularity, reflecting a shift in consumer engagement and entertainment preferences.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Games market in Chile has been experiencing significant growth in recent years, driven by the increasing popularity of video games and online gaming platforms. Chileans have shown a strong affinity for gaming, with a large portion of the population actively engaging in gaming activities.

Customer preferences: Chilean gamers have a diverse range of preferences when it comes to gaming. Console gaming remains popular, with many gamers enjoying the immersive experience and high-quality graphics that consoles offer. However, there has been a noticeable shift towards mobile gaming, as smartphones have become more affordable and accessible to a wider audience. Mobile games are convenient and can be played anytime, anywhere, making them a popular choice among Chilean gamers.

Trends in the market: One of the key trends in the Chilean gaming market is the rise of esports. Esports tournaments and competitions have gained significant traction in recent years, attracting a large number of participants and spectators. This trend has been fueled by the growing popularity of competitive gaming globally and the increasing availability of high-speed internet in Chile. Esports events not only provide entertainment but also offer opportunities for professional gamers to showcase their skills and compete for lucrative prizes. Another notable trend is the increasing adoption of virtual reality (VR) gaming. VR technology has advanced significantly in recent years, offering gamers a more immersive and realistic gaming experience. This trend has been supported by the availability of affordable VR headsets and a growing number of VR games in the market. Chilean gamers are embracing this technology and seeking out VR gaming experiences.

Local special circumstances: Chile's strong internet infrastructure has played a crucial role in the growth of the gaming market. With high-speed internet widely available, gamers can easily connect and play online games with players from around the world. This has contributed to the rise of online multiplayer games and the popularity of gaming communities in Chile. Additionally, the government has recognized the potential of the gaming industry and has taken steps to support its growth. Initiatives such as tax incentives and funding programs for game development have been implemented to encourage local talent and innovation. This has led to the emergence of a thriving game development community in Chile, with several successful game studios producing high-quality games for both domestic and international markets.

Underlying macroeconomic factors: Chile's stable economy and increasing disposable income have also contributed to the growth of the gaming market. As more Chileans have the means to purchase gaming consoles, smartphones, and other gaming devices, the demand for games has increased. This trend is expected to continue as the economy grows and more consumers have access to technology. In conclusion, the Games market in Chile is experiencing significant growth, driven by customer preferences for console and mobile gaming, as well as the rise of esports and virtual reality gaming. The availability of high-speed internet, government support for the gaming industry, and a stable economy have all contributed to the market's development. With the continued advancement of technology and increasing disposable income, the gaming market in Chile is expected to continue growing 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.