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Mobile Games - South Korea

South Korea

In South Korea, revenue in the Mobile Games market market is projected to reach €5.36bn in 2024.
This revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.39%, leading to a projected market volume of €6.97bn by 2029.
Furthermore, the number of users in the Mobile Games market market in South Korea is anticipated to amount to 27.0m users by 2029.
User penetration in the country will be 45.9% in 2024 and is expected to increase to 52.6% by 2029.
In global comparison, the majority of revenue will be generated United States, which is projected to reach €31,810.00m in 2024.
Additionally, the average revenue per user (ARPU) in South Korea's Mobile Games market market is projected to amount to €225.70 in 2024.
In South Korea, the mobile games sector is witnessing a surge in demand for immersive storytelling and innovative gameplay mechanics, reflecting a shift in consumer preferences.

Key regions: Japan, Germany, South Korea, China, Asia

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Analyst Opinion

South Korea has emerged as one of the leading markets for mobile games, with a growing number of players and a thriving industry. The country's unique combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors have contributed to the development and success of the mobile games market in South Korea.

Customer preferences: South Korean consumers have shown a strong preference for mobile games due to their convenience and accessibility. The country has one of the highest smartphone penetration rates in the world, with a tech-savvy population that embraces new technology. The popularity of mobile games is also driven by the social aspect, as many games offer multiplayer features that allow players to connect and compete with friends and other players. Additionally, South Korean players appreciate the high-quality graphics, immersive gameplay, and diverse genres offered by mobile games.

Trends in the market: One of the key trends in the South Korean mobile games market is the rise of esports. South Korea is known for its competitive gaming culture, and mobile games have become a significant part of the esports scene. Professional players and teams compete in tournaments, attracting a large audience and generating revenue through sponsorships, advertising, and ticket sales. This trend has further fueled the popularity of mobile games in South Korea. Another trend in the market is the increasing focus on localization and customization. South Korean game developers are tailoring their games to cater to the preferences of local players, incorporating elements of Korean culture, language, and storytelling. This localization strategy has resonated with South Korean gamers, who appreciate games that reflect their own experiences and cultural background.

Local special circumstances: South Korea has a highly competitive and innovative gaming industry, with a large number of game developers and publishers. The country's strong infrastructure, including high-speed internet and advanced mobile technology, has created a conducive environment for the development and distribution of mobile games. Additionally, South Korea has a well-established gaming community and ecosystem, with dedicated gaming cafes, tournaments, and events that promote the mobile gaming culture.

Underlying macroeconomic factors: The South Korean economy has experienced steady growth over the years, contributing to the increased disposable income of consumers. This has allowed more people to afford smartphones and engage in mobile gaming. Furthermore, the government has actively supported the gaming industry through various initiatives and policies, recognizing its potential as a driver of economic growth and job creation. In conclusion, the mobile games market in South Korea is thriving due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The convenience and accessibility of mobile games, along with the country's competitive gaming culture and strong infrastructure, have contributed to the growth and success of the industry. With the continued support from consumers, developers, and the government, the mobile games market in South Korea is expected to flourish in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Video Games market. Digital video games are defined as fee-based video games distributed over the internet. These include online games, download games, mobile games, and gaming networks. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, 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 per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. 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 some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.