Sport Games - South Korea

  • South Korea
  • The South Korean sport games market is anticipated to witness an impressive growth trajectory, with total revenue projected to reach €329.20m in 2022.
  • This signifies the country's significant contribution to the global sport games market segment.
  • Moreover, the market is expected to exhibit a robust compound annual growth rate (CAGR 2022-2027) of 8.37%, leading to a projected market volume of €489.30m by 2027.
  • Within the South Korean sport games market, in-app purchases (IAP) are expected to play a major role, with projected revenue reaching €235.00m in 2022.
  • Paid app revenue is also anticipated to contribute, projected to reach €0.66m in 2022.
  • Additionally, advertising revenue is projected to reach €93.57m in the same year.
  • The growing popularity of sport games in South Korea is further evidenced by the projected number of downloads, set to reach 36.99m downloads in 2022.
  • This high download volume reflects the strong demand for sport games among users in the country.
  • Furthermore, the average revenue per download is expected to amount to €8.90, highlighting the lucrative nature of the South Korean sport games market.
  • This figure demonstrates the average amount of revenue generated per game download, further emphasizing the revenue potential within the market.
  • When considering a global perspective, it is noteworthy that in the United States currently generates the highest revenue in the sport games market segment, projected to reach €2,756.00m in 2022.
  • This serves as a benchmark for other countries, including in South Korea, as they continue to expand their presence and market share within the sport games industry.

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

 
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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.

Vue d’ensemble

  • Revenue
  • Market Shares
  • Downloads
  • Users
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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