Music Games - BRICS

BRICS

The Music Games market in BRICS countries is expected to achieve a significant milestone in 2022, with total revenue projected to reach US$1.39bn.
This indicates a promising growth potential within the market segment.
Looking ahead, the sector is expected to maintain a steady annual growth rate of 7.68% (CAGR 2022-2027), leading to a projected market volume of US$2.21bn by 2027.
Within the Music Games market, various revenue streams contribute to its overall success.
In-app purchases (IAP) are projected to generate revenue of US$394.60m in 2022, highlighting the popularity and willingness of users to enhance their gaming experience through additional purchases.
Additionally, paid app revenue is estimated to reach US$2.83m in 2022, demonstrating the demand for premium applications within this market segment.
Advertising revenue also plays a significant role in the Music Games market, with projections indicating a potential revenue of US$989.20m in 2022.
This suggests that advertisers recognize the value of reaching the Music Games market audience and are willing to invest in targeted advertising strategies.
Furthermore, the number of downloads in the Music Games market is expected to reach 1.35bn downloads in 2022.
This high volume of downloads reflects the popularity of Music Games market among users in BRICS countries.
Currently, the average revenue per download is projected to be US$1.03, indicating the potential for monetization within this market segment.
A global comparison of revenue distribution reveals that in China leads the way, generating the highest revenue in the Music Games market.
In 2022, in China is projected to generate a substantial revenue of US$1,358.00m, solidifying its position as a key player within the industry.
Overall, the Music Games market in BRICS countries showcases significant growth potential, with various revenue streams contributing to its success.
With a projected increase in revenue and downloads, coupled with a favorable average revenue per download, this market segment presents promising opportunities for stakeholders within the gaming industry.

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

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.