Racing Games - Belgium

Belgium

The Racing Games market in Belgium is expected to see a significant increase in revenue in the coming years.
According to projections, the total revenue is estimated to reach US$2.66m in 2022.
This represents a substantial growth in the market.
Furthermore, the Racing Games market is expected to continue its growth trajectory with an annual growth rate (CAGR 2022-2027) of 6.90%.
This would result in a projected market volume of US$4.08m by 2027.
These numbers indicate a positive outlook for the Racing Games market industry in Belgium.
When we delve deeper into the revenue breakdown, we find that in-app purchases (IAP) are projected to reach US$2.06m in 2022.
This revenue stream is expected to contribute significantly to the overall revenue of the Racing Games market.
Paid app revenue, on the other hand, is projected to reach US$0.15m in 2022.
This revenue category includes purchases made for paid games within the Racing Games market.
Advertising revenue is also an important aspect of the Racing Games market.
It is projected to reach US$0.45m in 2022.
This revenue is generated through advertisements displayed within the racing games.
In terms of downloads, the Racing Games market is projected to have 12.78m downloads downloads in 2022.
This indicates a high level of interest and engagement with racing games in Belgium.
It is worth noting that the average revenue per download currently stands at US$0.21.
This figure represents the average amount of revenue generated per download in the Racing Games market.
When compared globally, it is interesting to observe that in China generates the most revenue in the Racing Games market.
In 2022, in China is projected to generate a staggering US$726.10m in revenue.
This highlights in China's strong presence and dominance in the global racing games industry.
In conclusion, the Racing Games market in Belgium is expected to experience significant growth in revenue in the coming years.
With a positive annual growth rate and various revenue streams such as in-app purchases, paid apps, and advertising, the market is poised for further expansion.

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

Market

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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.