Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Northern Europe has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Northern Europe have played a crucial role in the growth of the Games market. The region has a high level of digital literacy, with a large proportion of the population being tech-savvy and having access to high-speed internet. This has led to a strong demand for online gaming, including multiplayer games and eSports. Additionally, there is a growing interest in mobile gaming, with a large number of people playing games on their smartphones and tablets. The convenience and portability of mobile gaming have made it particularly popular among the younger generation. Trends in the market have also contributed to the growth of the Games market in Northern Europe. One notable trend is the rise of virtual reality (VR) gaming. VR technology has become more accessible and affordable, allowing gamers to immerse themselves in virtual worlds. This has created new opportunities for game developers and has led to an increase in the production of VR games. Another trend is the popularity of indie games. Independent game developers have gained recognition for their innovative and unique game concepts, attracting a dedicated fan base. The success of indie games has led to a more diverse gaming landscape in Northern Europe. Local special circumstances have also influenced the development of the Games market in Northern Europe. The region has a strong gaming culture, with a long history of game development and a supportive ecosystem for game developers. This has fostered creativity and innovation in the industry, leading to the creation of high-quality games that appeal to both local and international audiences. Additionally, the region has a high standard of living and disposable income, allowing consumers to spend more on gaming and related products. Underlying macroeconomic factors have also contributed to the growth of the Games market in Northern Europe. The region has a stable economy and a high level of consumer spending, which has provided a favorable environment for the Games market to thrive. Furthermore, government support for the creative industries, including the gaming sector, has helped attract investment and foster growth. Overall, the Games market in Northern Europe has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The region's strong gaming culture, high digital literacy, and supportive ecosystem have created a fertile ground for the development of the Games market. With the continued advancement of technology and the increasing popularity of online and mobile gaming, the market is expected to continue growing 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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