Strategy Games - Colombia

Colombia

The Strategy Games market in Colombia is expected to experience significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach €8.36m by 2022.
This indicates a promising future for the industry in Colombia.
Furthermore, it is anticipated that the market will continue to expand at an annual growth rate of 9.49% from 2022 to 2027.
This growth trajectory is expected to result in a market volume of €13.10m by 2027.
These figures highlight the potential for increased revenue and market opportunities within the Strategy Games market in Colombia.
When examining the different revenue streams within the Strategy Games market, it is projected that in-app purchases (IAP) will contribute significantly.
In 2022, IAP revenue is expected to reach €4.20m.
Additionally, paid app revenue is projected to reach €0.22m, while advertising revenue is estimated to reach €3.95m.
These figures demonstrate the diverse sources of income within the market.
In terms of user engagement, the number of downloads in the Strategy Games market is projected to reach 31.86m downloads in 2022.
This indicates a strong interest and demand for strategy games among Colombian consumers.
Moreover, when considering the average revenue per download, it is expected to amount to €0.26.
This figure provides insights into the economic value generated by each download in the Strategy Games market.
In a global context, it is worth noting that in China generates the highest revenue in the Strategy Games market.
In 2022, in China is projected to generate €5,977.00m in revenue, emphasizing its dominant position in the industry.
Overall, the Strategy Games market in Colombia shows promising growth potential, with various revenue streams contributing to its expansion.
The projected revenue figures and market volume demonstrate the increasing popularity and economic significance of strategy games in the country.

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

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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.