Sport Games - Colombia

Colombia

In 2022, the projected total revenue in the Sport Games market in Colombia is expected to reach US$9.53m.
This represents a significant potential for growth in the country's gaming industry.
The market is projected to experience a steady annual growth rate (CAGR 2022-2027) of 13.82%, resulting in a projected market volume of US$20.69m by 2027.
When examining the different revenue streams within the Sport Games market, in-app purchases (IAP) are expected to contribute a substantial amount, with projected revenue reaching US$1.38m in 2022.
This highlights the increasing popularity of in-app purchases among gamers in Colombia.
Paid app revenue, on the other hand, is projected to reach US$0.07m in 2022.
While this figure is relatively smaller compared to in-app purchases, it still represents a significant portion of the market's revenue.
Advertising revenue is also expected to play a crucial role in the Sport Games market, with projected revenue reaching US$8.08m in 2022.
This indicates the growing interest of advertisers in targeting the gaming audience in Colombia.
Furthermore, the number of downloads in the Sport Games market is projected to reach 40.48m downloads in 2022.
This demonstrates the high demand for gaming content in Colombia and reflects the country's enthusiastic gaming community.
It is worth noting that the average revenue per download is expected to be US$0.24.
This metric provides insights into the monetization potential of the Sport Games market in Colombia, indicating the average revenue generated from each download.
In a global context, it is interesting to observe that in the United States generates the highest revenue in the Sport Games market, reaching a staggering US$2,904.00m in 2022.
This showcases the dominance of the US market in the gaming industry and the potential for growth in other regions, including in Colombia.
As in Colombia continues to embrace the Sport Games market, it is evident that there is substantial room for growth and economic opportunities within the country's gaming industry.
The projected revenue figures and market volume highlight the potential for both local and international developers to tap into this lucrative market segment.

Key regions: Asia, Japan, India, United States, Europe

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.