Board Games - Lithuania

Lithuania

The Board Games market in Lithuania is poised for growth, with total projected revenue expected to reach €131.70k in 2022.
This represents a significant opportunity for the country's gaming industry.
Over the period of 2022-2027, the market is projected to experience a Compound Annual Growth Rate (CAGR) of 7.95%, resulting in a projected market volume of €198.00k by 2027.
This growth trajectory indicates a promising future for the Board Games market in Lithuania.
Within the Board Games market, in-app purchase (IAP) revenue is projected to reach €47.08k in 2022.
This highlights the increasing popularity of in-app purchases among gamers in Lithuania.
Additionally, paid app revenue is expected to reach €16.33k in 2022, indicating a willingness among consumers to invest in premium gaming experiences.
Furthermore, advertising revenue in the Board Games market is projected to reach €68.32k in 2022, demonstrating the potential for monetization through advertisements within gaming applications.
The number of downloads in the Board Games market is projected to reach 1.58m downloads in 2022.
This signifies a strong demand for board game applications in Lithuania.
The average revenue per download is expected to amount to €0.08, illustrating the revenue potential for each individual download.
When comparing the global Board Games market, it is noteworthy that in the United States generates the highest revenue, with a projected revenue of €1,090.00m in 2022.
This highlights the dominance of the United States in the global gaming industry.
Overall, the Board Games market in Lithuania is experiencing significant growth and presents a lucrative opportunity for the country's gaming industry.
With projected revenue figures and a strong demand for board game applications, in Lithuania is well-positioned to capitalize on the expanding market segment.

Key regions: Europe, South Korea, United States, Germany, Japan

Mercado

Región

Comparación de regiones

Moneda

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.