Online Games - Nordics

Nordics

Highlights

In the Nordics, revenue in the Online Games market market is projected to reach US$348.30m in 2024.
Revenue in this region is expected to show an annual growth rate (CAGR 2024-2029) of 5.51%, resulting in a projected market volume of US$455.40m by 2029.
The number of users in the Online Games market market in the Nordics is expected to amount to 5.3m users by 2029.
User penetration will be 17.5% in 2024 and is expected to hit 18.6% by 2029.
In a global comparison, the majority of revenue will be generated China, with a projection of US$6.53bn in 2024.
The average revenue per user (ARPU) in the Online Games market market in the Nordics is projected to amount to US$70.71 in 2024.
The Nordics are witnessing a surge in online gaming popularity, driven by a strong digital culture and innovative gaming technologies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Games market in the Nordics is experiencing significant growth and development.

Customer preferences: Customers in the Nordics have shown a strong preference for online games, with a particular interest in multiplayer games that allow them to connect and interact with other players. The region's high internet penetration rate and advanced digital infrastructure have facilitated the popularity of online gaming. Additionally, customers in the Nordics are known for their tech-savviness and willingness to adopt new technologies, making them a prime target market for online game developers.

Trends in the market: One of the key trends in the online games market in the Nordics is the rise of mobile gaming. With the increasing availability of smartphones and tablets, more and more people are turning to mobile devices for their gaming needs. This trend has been further fueled by the development of high-quality mobile games and the convenience of playing on the go. As a result, mobile gaming has become a significant segment of the online games market in the Nordics. Another trend in the market is the growing popularity of esports. Esports refers to competitive video gaming, where professional players compete against each other in tournaments. The Nordics have a thriving esports scene, with a number of successful teams and players. This has led to increased interest in esports among the general population, with many people watching esports tournaments and even participating in amateur leagues. The rise of esports has also created new opportunities for game developers and sponsors to capitalize on this growing market.

Local special circumstances: One of the unique aspects of the online games market in the Nordics is the strong emphasis on game design and storytelling. Nordic game developers are known for their innovative and immersive games that often incorporate elements of Nordic mythology and folklore. This focus on storytelling and unique game experiences has helped Nordic games stand out in the global market and attract a dedicated fan base. Additionally, the Nordic countries have a strong culture of collaboration and community. This is reflected in the online gaming scene, where players often come together to form clans or guilds and work together to achieve goals in the game. This sense of community has contributed to the popularity of multiplayer games in the region and has created a vibrant social aspect to online gaming in the Nordics.

Underlying macroeconomic factors: The strong economic performance of the Nordic countries has also played a role in the development of the online games market. With high disposable incomes and a high standard of living, customers in the Nordics have the financial means to invest in gaming hardware and software. This has created a lucrative market for game developers and has encouraged the growth of the online games industry in the region. Furthermore, the Nordic countries have a well-developed education system and a strong focus on technology and innovation. This has led to a high level of technical expertise among the population, making the Nordics an attractive location for game developers and studios. The availability of skilled professionals in the region has contributed to the growth of the online games market and has helped establish the Nordics as a hub for game development and innovation. In conclusion, the Online Games market in the Nordics is thriving due to customer preferences for multiplayer and mobile gaming, the rise of esports, a focus on game design and storytelling, and underlying macroeconomic factors such as high disposable incomes and a strong emphasis on technology and innovation. This market is expected to continue growing and evolving as new technologies and trends emerge.

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.