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Games - Nordics

Nordics

Revenue in the Games market in the Nordics is forecasted to reach US$4.87bn in 2024.
The revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 8.28%, leading to a projected market volume of US$7.25bn by 2029.
When compared globally, the majority of revenue will be generated in China (US$128.90bn in 2024).
Within the Games market, the number of users in the Nordics is expected to reach 0.00 by 2029.
User penetration is projected to be 0.00 in 2024 and is forecasted to reach 0.00 by 2029.
The average revenue per user (ARPU) is expected to amount to [arpu_firstmarket_yeartoday].
In the Nordics, the gaming market is thriving with a surge in demand for interactive and immersive media experiences among consumers.

Key regions: United Kingdom, Germany, India, United States, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Games market in Nordics has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Nordic countries, including Denmark, Finland, Norway, and Sweden, have a strong gaming culture and a high level of digital infrastructure, making them ideal markets for the Games industry.

Customer preferences in the Nordic Games market have shifted towards mobile gaming, with a growing demand for casual and social games. This trend can be attributed to the widespread availability of smartphones and the convenience of playing games on the go. Additionally, there is a preference for multiplayer online games, as Nordic gamers enjoy connecting and competing with players from around the world.

Trends in the market also indicate a rise in the popularity of esports in the Nordic region. Esports tournaments and events are attracting a large number of participants and viewers, with professional esports teams gaining recognition and sponsorship deals. This trend is fueled by the competitive nature of Nordic gamers and the increasing accessibility of high-speed internet connections.

Local special circumstances in the Nordic Games market include the strong emphasis on game development and innovation. The region is home to several renowned game studios and developers, who have created globally successful titles. The Nordic gaming industry benefits from government support and funding, as well as a collaborative ecosystem that encourages knowledge sharing and networking.

Underlying macroeconomic factors, such as high disposable income and a well-developed welfare system, contribute to the growth of the Games market in the Nordics. With a high standard of living and a strong purchasing power, Nordic consumers are willing to spend on gaming experiences and in-game purchases. The region's stable economy and low unemployment rate also provide a favorable environment for the Games industry to thrive.

In conclusion, the Games market in the Nordics is experiencing growth due to changing customer preferences, including a shift towards mobile gaming and the rise of esports. Local special circumstances, such as a strong emphasis on game development and innovation, further contribute to the market's expansion. Additionally, underlying macroeconomic factors, such as high disposable income and a well-developed welfare system, provide a supportive environment for the Games industry in the Nordic region.

Methodology

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.