Racing Games - Sweden

Sweden

The Racing Games market in Sweden is expected to experience significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach €4.75m in 2022.
This represents a substantial increase compared to previous years.
Furthermore, the Racing Games market is anticipated to demonstrate a steady annual growth rate of 7.21% between 2022 and 2027.
As a result, the projected market volume is expected to reach €6.79m by 2027.
This indicates a positive and promising outlook for the industry.
When examining the revenue breakdown within the Racing Games market, it is projected that in-app purchases (IAP) will account for €2.03m in 2022.
This revenue stream is expected to contribute significantly to the overall market growth.
Additionally, paid app revenue is estimated to reach €0.20m in 2022.
This indicates that there is still a demand for paid apps in the Racing Games market, despite the prevalence of free-to-play models.
Furthermore, advertising revenue is projected to reach €2.52m in 2022.
This demonstrates the importance of advertisements as a revenue source within the Racing Games market.
In terms of user engagement, the number of downloads in the Racing Games market is expected to reach 9.74m downloads in 2022.
This signifies a substantial user base and highlights the popularity of Racing Games market among consumers.
Moreover, the average revenue per download is currently estimated to be €0.49.
This metric indicates the amount of revenue generated per individual download, providing insights into the monetization potential of Racing Games market.
In a global comparison, it is worth noting that in China generates the highest revenue in the Racing Games market.
In 2022, in China is projected to generate a staggering €689.00m.
This illustrates the significance of the Chinese market within the Racing Games market industry.
Overall, the Racing Games market in Sweden is poised for growth, with various revenue streams contributing to its expansion.
The increasing number of downloads and the potential for revenue per download indicate a positive outlook for the market segment.

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

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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.