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Mobile Games - Latvia

Latvia

In Latvia, the revenue in the Mobile Games market market is forecasted to reach US$3.13m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.44%, leading to a projected market volume of US$3.89m by 2029.
By 2029, the number of users in the Mobile Games market market is expected to reach 357.2k users.
User penetration is set to be 17.1% in 2024 and is projected to increase to 20.8% by 2029.
When compared globally, the majority of revenue will be generated in China (US$34,660.00m in 2024).
The average revenue per user (ARPU) in the Mobile Games market market is forecasted to be US$10.12 in 2024.
Latvian mobile game developers are leveraging the country's tech-savvy population to create innovative and engaging gaming experiences for global audiences.

Key regions: Japan, Germany, South Korea, China, Asia

Market

Region

Region comparison

Currency

Analyst Opinion

The Mobile Games market in Latvia is experiencing significant growth and development in recent years. Customer preferences in the Mobile Games market in Latvia have been shaped by several factors.

Firstly, the increasing popularity of smartphones and tablets has led to a higher demand for mobile gaming. With the advancements in technology, people now have access to more powerful devices that can support high-quality games. Additionally, the convenience and portability of mobile gaming have made it a preferred choice for many consumers.

They can enjoy their favorite games anytime and anywhere, whether it's during their commute or in the comfort of their own homes. Trends in the Mobile Games market in Latvia indicate a shift towards more immersive and interactive gaming experiences. Game developers are constantly pushing the boundaries of what is possible on mobile devices, creating games with stunning graphics, realistic physics, and engaging gameplay.

This trend is driven by the increasing capabilities of mobile devices and the growing expectations of consumers. Players are looking for more than just casual games; they want experiences that rival those found on traditional gaming consoles or PCs. As a result, we are seeing a rise in the popularity of mobile games that offer console-like graphics and gameplay mechanics.

Local special circumstances in Latvia have also contributed to the development of the Mobile Games market. The country has a strong technology infrastructure and a high level of internet penetration, which has created a favorable environment for the growth of the mobile gaming industry. Additionally, the relatively low cost of mobile data and the availability of affordable smartphones have made mobile gaming accessible to a wider audience.

These factors have helped to drive the adoption of mobile games in Latvia. Underlying macroeconomic factors also play a role in the development of the Mobile Games market in Latvia. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income.

As a result, consumers have more money to spend on leisure activities, including mobile gaming. Furthermore, the government has implemented policies to support the digital economy, which has created a favorable business environment for game developers and publishers. In conclusion, the Mobile Games market in Latvia is experiencing growth and development due to customer preferences for mobile gaming, trends towards more immersive experiences, local special circumstances such as a strong technology infrastructure, and underlying macroeconomic factors such as steady economic growth and government support for the digital economy.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Video Games market. Digital video games are defined as fee-based video games distributed over the internet. These include online games, download games, mobile games, and gaming networks. 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.