Trivia Games - South Korea

South Korea

The Trivia Games market in South Korea is expected to see significant growth in the coming years.
According to projections, the total revenue in this market is set to reach €2.01m in 2022.
This indicates a promising future for the industry.
Furthermore, it is anticipated that the market will experience an annual growth rate of 6.95% from 2022 to 2027, resulting in a projected market volume of €2.63m by 2027.
This steady growth is a positive sign for the Trivia Games market.
Looking at the different revenue sources within this market, in-app purchase (IAP) revenue is projected to reach €1,484.00k in 2022.
This indicates that users are willing to spend on in-app purchases to enhance their gaming experience.
Paid app revenue, on the other hand, is projected to reach €157.00k in 2022.
This suggests that there is a market for paid Trivia Games market apps in South Korea, indicating a willingness among users to pay for premium content.
Advertising revenue in the Trivia Games market is also expected to grow, with projections indicating a revenue of €367.00k in 2022.
This highlights the potential for advertisers to reach a wide audience through these games.
In terms of user engagement, the number of downloads in the Trivia Games market is projected to reach 9.01m downloads in 2022.
This showcases the popularity of these games among South_Korean users.
Currently, the average revenue per download is expected to amount to €0.22.
This metric demonstrates the revenue generated per individual download, indicating the potential profitability of the market.
In a global comparison, it is noteworthy that in the United States generates the most revenue in the Trivia Games market.
Projections indicate a revenue of €70.36m in 2022, highlighting the dominance of the US market in this segment.
Overall, the Trivia Games market in South Korea shows great potential for growth, with various revenue streams contributing to its success.
The projected revenue figures and download numbers indicate a thriving market that is expected to continue expanding in the coming years.

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

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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.