Games - Lithuania

Lithuania

The Games market in Lithuania is expected to achieve remarkable growth in the coming years.
By 2022, the total revenue in this market is projected to reach US$18.34m.
This growth is further anticipated to continue at an annual growth rate of 8.62% from 2022 to 2027, resulting in a projected market volume of US$29.91m by 2027.
Within the Games market, in-app purchase (IAP) revenue is projected to reach US$8.85m in 2022, indicating the popularity of this monetization method.
Additionally, paid app revenue is expected to reach US$0.63m in the same year.
Moreover, advertising revenue is projected to generate US$8.86m in 2022, reflecting the significant role of advertisements in this market.
Furthermore, the number of downloads in the Games market is projected to reach 71.99m downloads in 2022, demonstrating the high demand for gaming experiences.
Currently, the average revenue per download is estimated to be US$0.25, emphasizing the value generated by each individual download.
In a global comparison, in China stands out as the leading revenue generator in the Games market, with a staggering US$62.86bn expected in 2022.
This showcases the immense scale and potential of the Chinese gaming industry.
As in Lithuania continues to embrace the Games market, it is poised to benefit from the growth and opportunities presented by this dynamic industry.

Key regions: Europe, India, United States, South Korea, Asia

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. 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 digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

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 case market dynamics change.