Video Games - Nigeria

  • Nigeria
  • The projected revenue for the Video Games market in Nigeria is expected to reach €471.40m in 2024.
  • It is anticipated that the revenue will show an annual growth rate (CAGR 2024-2027) of 8.05%, resulting in a projected market volume of €594.70m by 2027.
  • Moreover, the number of users in the Video Games market is expected to reach 78.7m users by 2027.
  • The user penetration rate, which measures the proportion of the population using video games, is projected to be 28.7% in 2024 and is expected to increase to 32.1% by 2027.
  • Among the different segments of the Video Games market, the largest market is Download Games, which is projected to have a market volume of €225.60m in 2024.
  • In the global context, China is expected to generate the highest revenue, with €86,710.00m in 2024.
  • Furthermore, the average revenue per user (ARPU) in the Video Games market is projected to be €7.21 in 2024.
  • Nigeria's video game market is experiencing a surge in popularity among young adults, driven by the increasing availability of affordable smartphones and internet access.

Key regions: France, South Korea, Asia, Japan, Europe

Mercado
Región
Comparación de regiones
Moneda

Revenue

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Mar 2024

Fuente: Statista Market Insights

in billion EUR (€)

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Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

Most recent update: Mar 2024

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Most recent update: Mar 2024

Fuente: Statista Market Insights

Digital

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This report presents a comprehensive analysis and additional information on the Video Games market, in a PDF format.
Video Games: market data & analysis - Background Video Games: market data & analysis - Cover

Analyst Opinion

While all other Digital Media market markets have already gone through small revolutions caused by new business models like subscription-based services, the Video Games market is only at the beginning of this development. New offers like Ubisoft’s Uplay+ gaming flat rate or technical innovations like Google Stadia’s game streaming platform might attract even more casual gamers and revolutionize the way consumers play video games in general.

Users

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Most recent update: Mar 2024

Fuente: Statista Market Insights

Demographics

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Most recent update: Mar 2024

Fuentes: Statista Market Insights , Statista Consumer Insights Global

Global Comparison

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Most recent update: Mar 2024

Fuente: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Video Games market. Digital video games are defined as fee-based video games distributed over the internet. These include online games, download games, mobile games, and gaming networks. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, 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 per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. 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 some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.

Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

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