Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in EU-27 is experiencing significant growth and development. Customer preferences are shifting towards digital gaming platforms, leading to an increase in online gaming and mobile gaming. The market is also benefiting from the rise in esports and the growing popularity of virtual reality (VR) and augmented reality (AR) games.
Customer preferences: Customers in the EU-27 region are increasingly favoring digital gaming platforms over traditional gaming consoles. This shift can be attributed to several factors, including the convenience of online gaming, the wide variety of games available, and the ability to play with friends and other players from around the world. Mobile gaming has also gained popularity, as smartphones have become more powerful and capable of running high-quality games.
Trends in the market: One of the major trends in the EU-27 Games market is the rise of esports. Esports tournaments and competitions are attracting a large number of viewers and participants, with professional players earning significant incomes. This trend has led to the development of dedicated esports teams and organizations, as well as the establishment of esports leagues and events. Another trend in the market is the growing popularity of VR and AR games. Virtual reality technology allows players to immerse themselves in a virtual world, while augmented reality games overlay digital elements onto the real world. These technologies offer unique and immersive gaming experiences, attracting a new segment of customers.
Local special circumstances: The EU-27 region consists of diverse countries with different languages and cultures. This presents both opportunities and challenges for game developers and publishers. Localization is crucial to cater to the preferences and needs of each market. Games that are translated into local languages and adapted to local cultures are more likely to succeed. Furthermore, the EU-27 region has strict regulations regarding data privacy and protection. Game developers and publishers need to comply with these regulations to ensure the security and privacy of user data. This can have an impact on the development and distribution of games in the region.
Underlying macroeconomic factors: The growth of the Games market in the EU-27 can be attributed to several underlying macroeconomic factors. The region has a large population with a high disposable income, which allows consumers to spend on gaming and entertainment. Additionally, the increasing penetration of internet and smartphones has made gaming more accessible to a wider audience. Furthermore, the COVID-19 pandemic has had a significant impact on the Games market in the EU-27. With people spending more time at home due to lockdowns and social distancing measures, there has been a surge in demand for gaming. This trend is expected to continue even after the pandemic, as people have discovered the entertainment and social aspects of gaming. In conclusion, the Games market in EU-27 is experiencing growth and development driven by customer preferences for digital gaming platforms, the rise of esports, and the popularity of VR and AR games. Localization and data privacy regulations are important considerations for game developers and publishers in the region. The underlying macroeconomic factors, such as a large population with high disposable income and the impact of the COVID-19 pandemic, are also contributing to the growth of the market.
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.
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