Casual Games - South Korea

South Korea

The Casual Games market in South Korea is expected to experience significant growth in the coming years.
According to projections, the total revenue in this market is anticipated to reach €117.90m in 2022.
This indicates a positive trend in the industry.
Furthermore, it is estimated that the market will continue to expand with an annual growth rate (CAGR 2022-2027) of 6.61%.
As a result, the projected market volume is expected to reach €151.10m by 2027.
These figures highlight the potential for further development and opportunities within the Casual Games market sector.
In terms of revenue sources, in-app purchases (IAP) are projected to contribute significantly to the market, with a projected revenue of €92.08m in 2022.
Paid app revenue is also expected to play a role, reaching €3.30m in the same year.
Additionally, advertising revenue is projected to reach €22.51m in 2022.
These various revenue streams contribute to the overall financial success of the Casual Games market.
Moreover, the number of downloads in the Casual Games market is expected to grow substantially, reaching 159.60m downloads in 2022.
This signifies a strong demand for these types of games in South Korea.
Currently, the average revenue per download is expected to amount to €0.74.
This figure indicates the financial value generated by each download in the Casual Games market.
When comparing the global market, it is noteworthy that in the United States generates the highest revenue in the Casual Games market sector.
Projections suggest that the revenue generated in the United States will reach €5,184.00m in 2022.
This highlights the dominance of the US market in terms of revenue generation within the Casual Games market industry.

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

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.