Racing Games - Mexico

Mexico

The Racing Games market in Mexico is expected to witness impressive growth in the coming years.
According to projections, the total revenue in this market is projected to reach US$7.33m in 2022.
This indicates a significant potential for growth in the country.
Furthermore, it is anticipated that the Racing Games market will experience an annual growth rate of 8.50% from 2022 to 2027.
As a result, the market volume is projected to reach US$10.92m by 2027.
This demonstrates a positive outlook for the future of the Racing Games market in Mexico.
In terms of revenue streams, it is estimated that the in-app purchase (IAP) revenue will reach US$3.34m in 2022.
Additionally, the paid app revenue is projected to reach US$0.68m in the same year.
Moreover, the advertising revenue in the Racing Games market is expected to reach US$3.31m in 2022.
Furthermore, the number of downloads in the Racing Games market is anticipated to reach 248.80m downloads in 2022.
This indicates a significant interest and demand for racing games among the Mexican audience.
Currently, the average revenue per download is expected to be US$0.03.
This metric provides insight into the monetization potential of the Racing Games market in Mexico.
When compared globally, it is noteworthy that in China generates the highest revenue in the Racing Games market, reaching US$726.10m in 2022.
This highlights the dominant position of in China in the global market segment of Racing Games market.

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

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.