Music Games - China

China

The Music Games market in China is anticipated to witness significant growth in the coming years.
According to projections, the total revenue for this market is expected to reach US$1.36bn in 2022.
This impressive figure is projected to experience a compound annual growth rate (CAGR) of 7.68% from 2022 to 2027, resulting in a market volume of US$2.16bn by 2027.
When examining the revenue sources within the Music Games market, it is estimated that in-app purchases (IAP) will contribute a substantial amount.
In 2022, IAP revenue is projected to reach US$391.20m.
Additionally, paid app revenue is expected to play a role, with a projected amount of US$2.04m in the same year.
Furthermore, advertising revenue is also expected to contribute significantly, reaching US$964.70m in 2022.
In terms of user engagement, the number of downloads in the Music Games market is projected to reach 0.91bn downloads in 2022.
This high number of downloads indicates a strong interest and demand for music games among users in China.
When assessing the profitability of the market, the average revenue per download is currently estimated to be US$1.49.
This figure provides insight into the revenue generated per individual download.
A global comparison highlights in China as the leading revenue generator in the Music Games market.
In 2022, in China is projected to generate a substantial revenue of US$1.36bn.
This data underscores the significance of the Chinese market within the music 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.