Online Games - Baltics

Baltics

Highlights

In the Baltics, revenue in the Online Games market market is projected to reach US$2.23m in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.92%, leading to a projected market volume of US$2.97m by 2029.
Within the Online Games market market in the Baltics, the user count is anticipated to reach 890.6k users by 2029.
User penetration is forecasted to be 14.7% in 2024 and is expected to increase to 15.9% by 2029.
In a global context, the majority of revenue will be generated China, which is projected to achieve US$6.53bn in 2024.
The average revenue per user (ARPU) in the Online Games market market in the Baltics is projected to amount to US$2.61 in 2024.
The Baltic region is witnessing a surge in mobile gaming popularity, driven by a young, tech-savvy population eager for innovative gaming experiences.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Games market in Baltics has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of online gaming worldwide.

Customer preferences: In line with global trends, customers in the Baltics have shown a strong preference for online games due to their convenience and accessibility. The rise of smartphones and high-speed internet connections has made it easier for people to play games online anytime and anywhere. Additionally, the younger generation in the Baltics has grown up with technology and is more inclined to engage in online gaming as a form of entertainment.

Trends in the market: One major trend in the Online Games market in the Baltics is the increasing popularity of mobile gaming. Mobile games have become the preferred choice for many gamers due to their ease of use and the ability to play on the go. This trend is expected to continue as smartphone penetration and internet connectivity improve in the region. Another trend is the rise of multiplayer online games. These games allow players to interact with each other in a virtual world, creating a sense of community and competition. This social aspect of gaming has become highly appealing to customers in the Baltics, who enjoy connecting with others and participating in online communities.

Local special circumstances: The Baltics have a relatively small population compared to other regions, which presents both challenges and opportunities for the Online Games market. On one hand, the smaller market size limits the potential customer base and revenue opportunities. On the other hand, it allows for more targeted marketing and customization of games to suit the preferences of the local population.

Underlying macroeconomic factors: The overall economic growth in the Baltics has had a positive impact on the Online Games market. As disposable incomes increase, people are willing to spend more on leisure activities, including online gaming. Additionally, the region's strong IT infrastructure and high internet penetration rate have created a favorable environment for the growth of the Online Games market. In conclusion, the Online Games market in the Baltics is experiencing significant growth due to changing customer preferences, such as the increasing popularity of mobile gaming and multiplayer online games. The region's small population presents both challenges and opportunities for the market, while the overall economic growth and strong IT infrastructure contribute to its development.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Video Games market. Digital video games are defined as fee-based video games distributed over the internet. These include online games, download games, mobile games, and gaming networks. 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.