Word Games - North America

North America

The Word Games market in North America is set to experience substantial growth in the coming years.
According to projections, total revenue in this market is expected to reach €1.70bn in 2022.
This represents a significant increase in revenue compared to previous years.
Furthermore, the market is predicted to maintain a steady annual growth rate (CAGR 2022-2027) of 8.87%.
This growth trajectory is expected to result in a projected market volume of €2.71bn by 2027.
These numbers highlight the strong potential and profitability of the Word Games market in North America.
When examining the different revenue streams within the Word Games market, it is worth noting that in-app purchases (IAP) are projected to generate €139.00m in 2022.
This revenue stream is expected to contribute significantly to the overall market revenue.
Additionally, paid app revenue is projected to reach €4.67m in 2022.
This indicates that a substantial portion of the market's revenue will come from users who opt to purchase Word Games market apps.
Furthermore, advertising revenue in the Word Games market is projected to reach €1,553.00m in 2022.
This revenue stream demonstrates the impact of advertising within the market and its potential for generating significant income.
In terms of user engagement, the number of downloads in the Word Games market is projected to reach 339.70m downloads in 2022.
This indicates a strong demand for these games among consumers.
Moreover, the average revenue per download is expected to amount to €5.00.
This metric provides insight into the profitability of each download and highlights the market's potential for generating revenue from a large user base.
When comparing revenue on a global scale, it is evident that in the United States dominates the Word Games market.
In 2022, it is projected that in the United States will generate €1,647.00m in revenue, making it the leading country in terms of market share and revenue generation within the Word Games market.
In conclusion, the Word Games market in North America shows promising growth potential.
With projected increases in revenue, strong user engagement, and a dominant presence in the United States, this market segment presents lucrative opportunities for businesses operating in the region.

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

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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.