Sport Games - Lithuania

Lithuania

The Sport Games market in Lithuania is expected to see significant growth in the coming years.
According to projections, the total revenue in this market is expected to reach €0.97m in 2022.
This indicates a positive trend in the sector.
Furthermore, it is anticipated that the market will experience an annual growth rate of 11.50% between 2022 and 2027.
This steady growth is predicted to result in a market volume of €1.83m by 2027.
These figures demonstrate the potential for expansion in the Sport Games market.
Within the Sport Games market, revenue from in-app purchases (IAP) is projected to reach €219.30k in 2022.
This highlights the popularity of these purchases among consumers.
Additionally, revenue from paid apps is expected to reach €8.89k in the same year.
This indicates that some users prefer to pay upfront for their gaming experience.
Advertising revenue is also a significant contributor to the Sport Games market, with projections indicating it will reach €745.20k in 2022.
This suggests that advertisers recognize the value of reaching the target audience through these games.
In terms of user engagement, the number of downloads in the Sport Games market is projected to reach 2.44m downloads in 2022.
This high download rate demonstrates the popularity of these games among consumers.
Additionally, the average revenue per download is expected to amount to €0.40.
This metric provides insights into the revenue generated per individual download, indicating the profitability of the market.
It is interesting to note that, in a global comparison, in the United States generates the most revenue in the Sport Games market, with projections estimating €2,756.00m in 2022.
This demonstrates the dominance of the US market in this industry.
In conclusion, the Sport Games market in Lithuania shows promising growth potential.
The projected revenue figures, along with the strong engagement metrics, highlight the market's attractiveness for both consumers and businesses.

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

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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.