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Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 17:00 h (SGT)
Lun - Ven, 10:00 - 18:00 h (JST)
Lun - Ven, 9:00 - 18:00 h (GMT)
Lun - Ven, 9:00 - 18:00 h (EST)
Key regions: United Kingdom, Germany, India, United States, South Korea
South Korea has emerged as a major player in the global Games market, with a strong and growing demand for video games and online gaming. The country's unique blend of technology-savvy consumers, advanced internet infrastructure, and a vibrant gaming culture has contributed to the rapid development of the Games market in South Korea.
Customer preferences: South Korean consumers have shown a strong preference for online gaming, with multiplayer online games being particularly popular. The country's high-speed internet connectivity and widespread access to smartphones have made it easy for gamers to connect and play with each other. Additionally, South Korean gamers have a preference for competitive gaming, with esports gaining significant popularity in recent years. The rise of professional gaming leagues and tournaments has further fueled the demand for gaming content and products.
Trends in the market: One of the key trends in the South Korean Games market is the growing popularity of mobile gaming. Mobile games have become a dominant force in the industry, with a wide range of genres and themes catering to different preferences. The convenience of playing games on smartphones has attracted a large number of casual gamers, contributing to the overall growth of the market. Furthermore, the integration of social features in mobile games, such as multiplayer modes and in-game chat, has fostered a sense of community among players. Another trend in the market is the increasing focus on virtual reality (VR) and augmented reality (AR) gaming. South Korean consumers have shown a keen interest in immersive gaming experiences, and the advancements in VR and AR technologies have opened up new possibilities. From virtual reality headsets to augmented reality mobile games, the market is witnessing a surge in demand for these innovative gaming experiences.
Local special circumstances: South Korea's gaming culture is deeply ingrained in the society, with gaming being considered a mainstream form of entertainment. The country has a dedicated gaming infrastructure, with numerous PC bangs (internet cafes) where gamers can play together. The popularity of PC bangs has created a social environment for gaming, where players can interact and compete with each other. This unique gaming culture has played a significant role in the growth of the Games market in South Korea.
Underlying macroeconomic factors: South Korea's strong economy and high disposable income levels have also contributed to the growth of the Games market. With a tech-savvy population and a high standard of living, South Korean consumers have the means to invest in gaming products and experiences. The government has also been supportive of the gaming industry, recognizing its economic potential and promoting its development through various initiatives. In conclusion, the Games market in South Korea is experiencing rapid growth and evolution, driven by customer preferences for online gaming, mobile gaming, and immersive experiences. The country's unique gaming culture, advanced technology infrastructure, and strong economy have created a favorable environment for the market to thrive. As the demand for gaming continues to rise, the South Korean Games market is poised for further expansion in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. 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.Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 17:00 h (SGT)
Lun - Ven, 10:00 - 18:00 h (JST)
Lun - Ven, 9:00 - 18:00 h (GMT)
Lun - Ven, 9:00 - 18:00 h (EST)