Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Hong Kong has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Games market in Hong Kong have shifted towards mobile gaming, with a growing number of consumers opting for gaming on smartphones and tablets. This trend can be attributed to the convenience and portability of mobile devices, as well as the increasing availability of high-quality mobile games. Additionally, the rise of social gaming has also contributed to the growth of the market, as gamers are now able to connect and compete with friends and other players online. Trends in the market show a strong demand for multiplayer and online gaming experiences. Gamers in Hong Kong are increasingly seeking out games that allow them to interact and compete with others, whether it be through multiplayer modes or online leaderboards. This trend can be attributed to the growing popularity of esports and competitive gaming, as well as the desire for social interaction and community building within the gaming community. Local special circumstances in Hong Kong have also played a role in the development of the Games market. The city's high population density and limited living space have made gaming a popular form of entertainment and escapism for many residents. Additionally, the competitive nature of Hong Kong's society has fueled the rise of esports and competitive gaming, as individuals strive to excel and achieve recognition in the gaming community. Underlying macroeconomic factors have also contributed to the growth of the Games market in Hong Kong. The city's strong economy and high disposable income levels have allowed consumers to spend more on gaming and entertainment. Additionally, the increasing penetration of internet and mobile technology in Hong Kong has made gaming more accessible to a wider audience, further driving the growth of the market. In conclusion, the Games market in Hong Kong is experiencing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards mobile gaming, the demand for multiplayer and online gaming experiences, and the city's high population density and competitive nature are all contributing to the development of the market. With the continued advancement of technology and the increasing popularity of esports, the Games market in Hong Kong 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.
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