Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Norway has been experiencing significant growth in recent years, driven by changing customer preferences and the local special circumstances in the country.
Customer preferences: Norwegian customers have shown a strong preference for digital gaming, with a significant shift towards online and mobile gaming. This can be attributed to the increasing availability and affordability of smartphones and high-speed internet connections. Additionally, the convenience and accessibility of digital gaming platforms have also contributed to the rise in popularity of online and mobile gaming in Norway.
Trends in the market: One of the key trends in the Norwegian Games market is the growing popularity of multiplayer online games. This can be attributed to the social aspect of gaming, as players can connect and interact with friends and other gamers from around the world. The rise of esports has also contributed to the increasing demand for multiplayer online games, as competitive gaming tournaments and events gain popularity in Norway. Another trend in the market is the increasing demand for virtual reality (VR) and augmented reality (AR) games. The immersive and interactive nature of these games has captured the interest of Norwegian gamers, who are looking for more engaging and realistic gaming experiences. The advancements in VR and AR technology have made these games more accessible and affordable, further driving their popularity in the market.
Local special circumstances: Norway's high standard of living and disposable income levels have contributed to the growth of the Games market. With a strong economy and high wages, Norwegian consumers have more purchasing power to spend on leisure activities, including gaming. This has created a favorable environment for the Games market to thrive in the country. Furthermore, Norway's strong gaming culture and supportive government policies have also played a role in the market's development. The country has a vibrant gaming community, with numerous gaming events and conventions taking place throughout the year. The government has also provided support and incentives for the gaming industry, fostering innovation and growth in the market.
Underlying macroeconomic factors: The growth of the Games market in Norway can be attributed to several underlying macroeconomic factors. Firstly, the country's stable economy and high employment rates have contributed to the disposable income levels of Norwegian consumers. This has allowed them to spend more on leisure activities, including gaming. Secondly, the advancements in technology, particularly in the mobile and internet sectors, have made gaming more accessible to a wider audience. The increasing availability of smartphones and high-speed internet connections has enabled Norwegian consumers to engage in online and mobile gaming, driving the growth of the market. In conclusion, the Games market in Norway is experiencing significant growth due to changing customer preferences towards online and mobile gaming, as well as the local special circumstances in the country, such as high disposable income levels and a supportive gaming culture. These factors, combined with underlying macroeconomic factors such as a stable economy and technological advancements, have created a favorable environment for the market's development.
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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