Game Consoles - Lithuania | Statista Market Forecast

In 2024, the revenue in the Game Consoles market in Lithuania amounts to US$3.7m.
It is projected to grow annually by -4.77% (CAGR 2024-2029).
In global comparison, United States generates the highest revenue in the Game Consoles market, with US$7.8bn in 2024.
In relation to the total population figures, per person revenues of US$1.41 are generated in Lithuania in 2024.
By 2029, the volume in the Game Consoles market is expected to reach 14.08k pieces.
Additionally, a volume growth of -6.5% is projected for 2025.0.
The average volume per person in Lithuania's Game Consoles market is expected to be 0.006pieces in 2024.
Lithuania's game console market is experiencing a surge in demand, driven by the growing popularity of esports and the rise of local gaming communities.

Definition:

Game consoles are devices designed specifically for playing video games. They consist of a console unit and one or more game controllers and are connected to a display such as a television or monitor. Game consoles offer a wide range of features and capabilities, including online gaming, streaming media playback, and social networking. There are several popular game console brands, including PlayStation, Xbox, and Nintendo, and each brand has a range of models with varying capabilities and specifications. Game consoles are widely used by gamers of all ages and are a popular form of entertainment.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Sony, Nintendo, and Microsoft. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Home consoles, like PlayStation and Xbox.
Hybrid consoles, like the Nintendo Switch, offering both portable and home gaming.
Handheld consoles, such as the Nintendo Switch Lite, Game Boy, Nintendo DS, and PlayStation Portable.

TV and various display screens, including LED, OLED, and QLED.
Video games and digital content, encompassing PC games, console games, and mobile apps.
Console add-ons, including expanded storage, cooling systems, and performance-enhancing attachments.

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, 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., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

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). GCS data is reweighted for representativeness.