Music Games - India

India

In 2022, the projected total revenue in the Music Games market in India is expected to reach €2.98m.
Looking ahead, the market is anticipated to experience an annual growth rate of 12.07% (CAGR 2022-2027), resulting in a projected market volume of €5.49m by 2027.
Breaking it down further, the projected in-app purchase (IAP) revenue in the Music Games market is expected to reach €0.23m in 2022.
Additionally, the projected paid app revenue in the Music Games market is estimated to reach €0.10m in the same year.
Furthermore, the advertising revenue in the Music Games market is projected to reach €2.65m in 2022.
This indicates a significant source of revenue for the industry.
In terms of user engagement, the number of downloads in the Music Games market is projected to reach approximately 181.80m downloads in 2022.
This highlights the popularity and wide reach of these games among Indian consumers.
Currently, the average revenue per download is expected to amount to €0.02, indicating the value generated per individual download.
When comparing the global landscape, it is worth noting that in China generates the highest revenue in the Music Games market, projected to reach €1,288.00m in 2022.
This showcases the immense market potential and success in the Chinese market segment.

Key regions: South Korea, United States, Europe, India, China

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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.