Racing Games - Thailand

Thailand

The Racing Games market in Thailand is expected to see significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach €8.86m in 2022.
This represents a substantial increase in revenue compared to previous years.
Furthermore, it is anticipated that the Racing Games market will continue to experience a steady annual growth rate of 10.56% from 2022 to 2027.
This projected growth will result in a market volume of €15.42m by 2027, indicating a promising future for this segment.
When examining the revenue sources within the Racing Games market, it is expected that in-app purchases (IAP) will contribute significantly.
In 2022, it is projected that IAP revenue will reach €7.33m.
This demonstrates the popularity and willingness of consumers to invest in additional features and enhancements within racing games.
Paid app revenue is also expected to contribute to the overall revenue in the Racing Games market.
In 2022, it is projected to reach €0.26m.
This indicates that there is still demand for premium racing game experiences that users are willing to pay for.
Additionally, advertising revenue is projected to play a role in the Racing Games market.
In 2022, it is estimated to reach €1.27m.
This suggests that advertisers recognize the value of reaching the target audience within the racing games segment.
In terms of user engagement, the number of downloads in the Racing Games market is projected to reach 97.71m downloads in 2022.
This high number of downloads reflects the popularity of racing games among consumers in Thailand.
When considering the average revenue per download, it is expected to amount to €0.09.
This figure indicates the average amount of revenue generated from each download, highlighting the potential profitability of the Racing Games market.
In a global comparison, it is noteworthy that in China generates the highest revenue in the Racing Games market.
In 2022, it is projected to reach a staggering €689.00m.
This demonstrates the significant market size and potential in China for racing games.
Overall, the Racing Games market in Thailand is projected to experience substantial growth and revenue in the coming years.
With the increasing popularity of in-app purchases, paid apps, and advertising, this market segment presents promising opportunities for developers and investors alike.

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.