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Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Serbia has been experiencing significant growth in recent years, driven by changing customer preferences and the local special circumstances. Customer preferences in Serbia have shifted towards digital gaming, with an increasing number of gamers opting for online and mobile gaming platforms.
This can be attributed to the convenience and accessibility offered by these platforms, allowing gamers to play anytime and anywhere. Additionally, the popularity of multiplayer games has also contributed to the growth of the market, as gamers are increasingly seeking social interaction and competition within the gaming community. The trends in the market reflect the global gaming industry, with the rise of esports and virtual reality (VR) gaming.
Esports has gained a strong following in Serbia, with competitive gaming tournaments attracting large audiences and generating significant revenue through sponsorships and advertising. Virtual reality gaming has also gained traction, offering an immersive and interactive gaming experience that appeals to gamers seeking a more realistic and engaging gameplay. Local special circumstances in Serbia have also played a role in the development of the Games market.
The country has a young population, with a high percentage of tech-savvy individuals who are enthusiastic about gaming. This demographic factor has contributed to the growing demand for gaming products and services in the country. Furthermore, Serbia has a strong gaming development community, with talented developers and studios creating innovative and high-quality games that cater to both domestic and international markets.
Underlying macroeconomic factors have also influenced the growth of the Games market in Serbia. The country has experienced economic stability in recent years, with a growing middle class and increasing disposable income. This has allowed more individuals to invest in gaming equipment and accessories, as well as spend on in-game purchases and subscriptions.
Additionally, the availability of high-speed internet and the expansion of mobile networks have further facilitated the growth of the online gaming market. In conclusion, the Games market in Serbia is developing rapidly, driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards digital gaming, the rise of esports and virtual reality gaming, the young population and strong gaming development community, as well as economic stability and technological advancements, have all contributed to the growth of the market.
As the market continues to evolve, it presents opportunities for both domestic and international gaming companies to capitalize on the growing demand in Serbia.
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.Mon - Fri, 9am - 6pm (EST)
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