Adventure Games - South Korea

South Korea

The Adventure 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 €174.30m in 2022.
This is an impressive figure that highlights the popularity and profitability of Adventure Games market in the country.
Furthermore, it is anticipated that the market will continue to expand at a steady pace, with an annual growth rate of 8.79% from 2022 to 2027.
This growth trajectory is expected to result in a projected market volume of €260.70m by 2027, showcasing the sustained demand for Adventure Games market in South Korea.
The revenue generated through in-app purchases (IAP) is also expected to contribute significantly to the overall market growth.
Projections indicate that IAP revenue in the Adventure Games market will reach €159.70m in 2022, reflecting the willingness of gamers to invest in enhancing their gaming experience.
Additionally, paid app revenue is projected to reach €5.71m in 2022.
This showcases the popularity of paid Adventure Games market in South Korea, as consumers are willing to spend money upfront for high-quality gaming content.
Advertising revenue is another revenue stream that is expected to make a substantial contribution to the Adventure Games market in South Korea.
It is projected to reach €8.82m in 2022, indicating the value that advertisers see in reaching the large and engaged user base of Adventure Games market.
Moreover, the number of downloads in the Adventure Games market is projected to reach 61.76m downloads in 2022.
This highlights the significant demand for these games in South Korea, with a large number of users actively engaging with and downloading Adventure Games market.
In terms of monetization, the current average revenue per download is expected to amount to €2.82.
This metric indicates the revenue generated per individual download and demonstrates the profitability of the Adventure Games market in South Korea.
When compared globally, it is worth noting that in China leads in terms of revenue generation in the Adventure Games market, with projections indicating that it will generate €4,356.00m in 2022.
This showcases the immense size and potential of the Chinese market in the gaming industry.
Overall, the Adventure Games market in South Korea is poised for continued growth and success, driven by factors such as increasing revenue streams, a large user base, and a strong demand for high-quality gaming experiences.

Key regions: Europe, India, Japan, Germany, 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.