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Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in El Salvador has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in El Salvador have shifted towards digital gaming, with an increasing number of consumers opting for mobile and online games.
This can be attributed to the widespread availability of smartphones and internet access, which have made gaming more accessible to a larger population. Additionally, the convenience and affordability of digital games compared to physical copies have also contributed to this shift in customer preferences. Trends in the market reflect the growing popularity of mobile gaming in El Salvador.
Mobile games have become the preferred choice for many consumers due to their ease of use and portability. The rise of social gaming platforms and multiplayer online games has also fueled the demand for mobile gaming. Furthermore, the introduction of new technologies such as virtual reality and augmented reality has created new opportunities for game developers and publishers in the country.
Local special circumstances in El Salvador have played a role in the development of the Games market. The country has a young population with a high level of digital literacy, making it a prime market for gaming. The relatively low cost of living in El Salvador has also made gaming more affordable for consumers, allowing them to allocate more disposable income towards entertainment activities such as gaming.
Additionally, the government has taken steps to promote the development of the gaming industry, providing incentives and support for local game developers and startups. Underlying macroeconomic factors have also contributed to the growth of the Games market in El Salvador. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending.
This has allowed more consumers to afford gaming devices and software, driving the demand for games in the market. Furthermore, the expansion of the internet infrastructure in El Salvador has improved access to online gaming platforms and multiplayer gaming experiences, further fueling the growth of the market. In conclusion, the Games market in El Salvador has experienced significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors.
The shift towards digital gaming, particularly mobile gaming, has driven the demand for games in the country. The young population, low cost of living, and government support have also contributed to the development of the market. With the continued growth of the economy and advancements in technology, the Games market in El Salvador is expected to continue its upward trajectory.
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.Mon - Fri, 9am - 6pm (EST)
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