Racing Games - Europe

Europe

The Racing Games market in Europe is expected to experience significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach €161.80m by 2022.
This represents a substantial increase in revenue for the region.
Furthermore, it is anticipated that the Racing Games market will continue to grow at a steady pace, with an annual growth rate of 7.71% between 2022 and 2027.
This growth trajectory is anticipated to result in a market volume of €248.90m by 2027.
These figures highlight the potential for sustained expansion in this market segment.
In terms of revenue streams, it is projected that in-app purchases (IAP) will contribute significantly to the overall revenue in the Racing Games market.
In 2022, it is estimated that IAP revenue will reach €84.85m.
This indicates a strong demand for additional content and features within racing games.
Paid app revenue is also expected to make a notable contribution to the overall revenue in the Racing Games market.
It is projected to reach €8.36m in 2022.
This suggests that a considerable number of users are willing to pay for high-quality racing game experiences.
Additionally, advertising revenue is expected to play a significant role in the Racing Games market, with projections indicating that it will reach €68.64m in 2022.
This demonstrates the value of advertising within this market segment, as companies seek to reach a wide audience of racing game enthusiasts.
The number of downloads in the Racing Games market is projected to reach 0.98bn downloads in 2022.
This indicates a strong consumer interest in racing games, as people continue to download and engage with these types of games.
Furthermore, the average revenue per download is expected to amount to €0.17.
This figure highlights the potential for monetization within the Racing Games market, as developers and publishers seek to generate revenue from each download.
When compared globally, it is worth noting that the majority of revenue in the Racing Games market is generated in China.
In 2022, [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] is projected to generate €689.00m in revenue, showcasing its dominance in this market segment.
In conclusion, the Racing Games market in Europe is expected to experience significant growth in the coming years.
With various revenue streams, strong download numbers, and a favorable average revenue per download, this market segment presents significant opportunities for developers and publishers in Europe.
Furthermore, a global comparison reveals the importance of the Chinese market in terms of revenue generation.

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

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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.