Market Insights Advertising & Media Media

Games - Paraguay

Paraguay

Revenue in the Games market in Paraguay is forecasted to reach US$165.00m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 8.10%, leading to an estimated market volume of US$243.60m by 2029.
When compared globally, in China is expected to generate the most revenue (US$128.90bn in 2024).
In Paraguay's Games market, the number of users is projected to reach 2,220.0k users by 2029.
User penetration is forecasted to be 27.7% in 2024, with an expected increase to 30.2% by 2029.
The average revenue per user (ARPU) is expected to be [arpu_firstmarket_yeartoday].
Paraguay's gaming media market is witnessing a surge in local game development, showcasing the country's growing creative talent and innovation.

Key regions: United Kingdom, Germany, India, United States, South Korea

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Analyst Opinion

The Games market in Paraguay has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Paraguay have shifted towards digital gaming platforms, with an increasing number of gamers opting for online and mobile gaming.

This trend can be attributed to the growing availability of affordable smartphones and internet access, as well as the convenience and accessibility of mobile gaming. Additionally, social and multiplayer gaming has gained popularity, as gamers seek to connect and compete with friends and other players online. Trends in the market also indicate a rise in the demand for virtual reality (VR) and augmented reality (AR) gaming experiences.

As technology continues to advance, Paraguayan gamers are becoming more interested in immersive and interactive gameplay. This trend can be seen in the increasing number of VR and AR gaming devices and applications available in the market. Local special circumstances, such as the relatively young population in Paraguay, have contributed to the growth of the Games market.

With a large proportion of the population under the age of 30, there is a significant market for gaming products and services. Additionally, the increasing disposable income of Paraguayan consumers has allowed for greater spending on entertainment and leisure activities, including gaming. Underlying macroeconomic factors have also played a role in the development of the Games market in Paraguay.

The country has experienced steady economic growth in recent years, leading to an increase in consumer spending power. This has allowed more individuals to afford gaming consoles, PCs, and other gaming devices. Furthermore, the government has implemented policies to promote the growth of the technology and entertainment sectors, which has created a favorable environment for the Games market to thrive.

In conclusion, the Games market in Paraguay is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards digital gaming platforms, the demand for VR and AR gaming experiences, the young population, increasing disposable income, and supportive government policies have all contributed to the development of the market. As these trends continue, the Games market in Paraguay is expected to further expand in the coming years.

Methodology

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.