Key regions: France, South Korea, Europe, India, Asia
The Online Games market in Montenegro has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of online gaming worldwide.
Customer preferences: Montenegrin customers are increasingly turning to online gaming as a form of entertainment. This can be attributed to several factors, including the convenience and accessibility of online games. With the rise of smartphones and high-speed internet connections, players can now enjoy their favorite games anytime and anywhere. Additionally, the social aspect of online gaming, such as multiplayer options and the ability to connect with friends, has also contributed to its popularity.
Trends in the market: One of the key trends in the Montenegrin online games market is the shift towards mobile gaming. Mobile games have gained immense popularity due to their ease of use and the wide range of genres available. This trend is in line with the global market, where mobile gaming has become the largest segment of the industry. Developers are increasingly focusing on creating mobile-friendly games to cater to the growing demand. Another trend in the market is the rise of esports. Esports, or competitive video gaming, has gained a significant following worldwide, and Montenegro is no exception. Esports tournaments and events are being organized in the country, attracting both local and international players. This trend has led to the development of a competitive gaming community and an increased interest in professional gaming.
Local special circumstances: Montenegro's relatively small population and limited market size pose challenges and opportunities for the online games industry. While the market may be smaller compared to larger countries, it also means that there is less competition and a potential for growth. Developers and publishers can target the local market with tailored games and marketing strategies. Furthermore, Montenegro's growing tourism industry presents an opportunity for the online games market. With an increasing number of tourists visiting the country, there is a potential market for mobile games that cater to tourists' interests and provide them with a unique gaming experience.
Underlying macroeconomic factors: Montenegro's growing economy and increasing disposable income have contributed to the development of the online games market. As people have more discretionary income, they are willing to spend on entertainment and leisure activities, including online gaming. This trend is expected to continue as the country's economy further develops. Additionally, the government's investment in improving the country's digital infrastructure, such as high-speed internet connectivity, has played a crucial role in the growth of the online games market. With better internet access, more people have the ability to access and enjoy online games, further driving the market's growth. In conclusion, the Online Games market in Montenegro has been experiencing growth due to changing customer preferences, including the shift towards mobile gaming and the rise of esports. The country's small market size presents both challenges and opportunities for developers and publishers, while underlying macroeconomic factors such as the growing economy and improved digital infrastructure contribute to the market's 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.
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