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Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Montenegro is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Montenegro are shifting towards digital gaming, with a growing demand for online and mobile games.
This can be attributed to the increasing availability of high-speed internet and the widespread use of smartphones and tablets. As a result, there is a growing preference for games that can be played on-the-go, offering convenience and flexibility to consumers. Additionally, there is a rising interest in multiplayer and social gaming, as players seek to connect and interact with others in virtual environments.
Trends in the market reflect the global gaming industry, with Montenegro following suit. The rise of esports is particularly notable, with a growing number of gamers participating in competitive gaming tournaments. This trend is fueled by the increasing popularity of streaming platforms, such as Twitch, which allow gamers to showcase their skills and attract a dedicated audience.
Esports events are also gaining traction in Montenegro, with organized competitions and professional teams emerging in the country. Local special circumstances in Montenegro contribute to the development of the Games market. The country's tourism industry plays a significant role, attracting a diverse range of visitors from around the world.
As a result, there is a demand for gaming experiences that cater to tourists, such as virtual reality arcades and immersive gaming attractions. Furthermore, Montenegro's relatively small population creates a close-knit gaming community, fostering a sense of camaraderie and collaboration among local gamers. Underlying macroeconomic factors also contribute to the growth of the Games market in Montenegro.
The country's strong economic performance and increasing disposable income levels enable consumers to spend more on leisure activities, including gaming. Additionally, Montenegro's favorable business environment and government support for the technology sector encourage the growth of local game development studios and startups. This creates opportunities for innovation and entrepreneurship in the Games market.
In conclusion, the Games market in Montenegro is experiencing growth and development driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As digital gaming becomes increasingly popular, there is a growing demand for online and mobile games. The rise of esports and the influence of tourism further contribute to the market's expansion.
With favorable economic conditions and government support, Montenegro's Games market is poised for continued growth in the future.
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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Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
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