Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Namibia has been experiencing significant growth in recent years. Customer preferences have shifted towards digital gaming platforms, and there is a growing demand for both console and mobile games. This trend is driven by several factors, including the increasing availability of high-speed internet, the rise of mobile gaming, and the growing popularity of e-sports.
Customer preferences: Namibian consumers are increasingly turning to digital gaming platforms, such as Steam and Epic Games, to purchase and play their favorite games. This shift towards digital distribution has been driven by the convenience and accessibility of online platforms, as well as the wide range of games available for download. In addition, the rise of mobile gaming has also contributed to the growth of the Games market in Namibia. Mobile games are becoming more sophisticated and offer a high-quality gaming experience, which has attracted a new segment of gamers.
Trends in the market: One of the key trends in the Games market in Namibia is the growing popularity of e-sports. E-sports refers to competitive video gaming, where professional gamers compete against each other in organized tournaments. E-sports has gained a significant following in Namibia, with many gamers participating in local and international tournaments. This trend has led to the emergence of e-sports teams and the establishment of dedicated gaming arenas. Another trend in the market is the increasing demand for virtual reality (VR) and augmented reality (AR) games. VR and AR technologies have advanced significantly in recent years, and many gamers are now seeking immersive gaming experiences. This trend is particularly evident in Namibia, where there is a growing interest in VR and AR games among both casual and hardcore gamers.
Local special circumstances: Namibia has a relatively young population, with a large percentage of the population under the age of 35. This demographic is highly tech-savvy and has grown up with video games as a form of entertainment. As a result, there is a strong demand for games in Namibia, and this has contributed to the growth of the Games market.
Underlying macroeconomic factors: The growth of the Games market in Namibia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. This has allowed consumers to spend more on leisure activities, including gaming. In addition, the increasing availability of high-speed internet has made it easier for gamers to access online gaming platforms and connect with other players around the world. In conclusion, the Games market in Namibia is experiencing significant growth due to customer preferences for digital gaming platforms, the rise of mobile gaming, and the increasing popularity of e-sports. The country's young population, coupled with steady economic growth and improved internet access, has created a favorable environment for the growth of the Games market. With the continued advancement of technology and the increasing demand for immersive gaming experiences, the Games market in Namibia is expected to continue to expand 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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