Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Hungary has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Hungarian consumers have shown a strong preference for digital gaming, with a growing number of people opting to play games on their smartphones, tablets, and computers. This shift towards digital gaming can be attributed to the convenience and accessibility it offers, allowing players to enjoy their favorite games anytime and anywhere. Additionally, the rise of online multiplayer games has also contributed to the growing popularity of digital gaming in Hungary, as players can connect and compete with others from around the world.
Trends in the market: One of the key trends in the Hungarian Games market is the increasing popularity of mobile gaming. The widespread adoption of smartphones and the availability of high-speed internet have made it easier for people to access and play games on their mobile devices. This trend has led to a surge in the number of mobile game developers and the release of a wide variety of mobile games catering to different interests and age groups. Another trend in the market is the rise of esports. Hungary has seen a growing interest in competitive gaming, with the emergence of professional esports teams and the organization of esports tournaments. This trend has not only attracted a large number of players but also a significant audience who enjoy watching esports events online or attending live tournaments.
Local special circumstances: Hungary has a vibrant and active gaming community, with a strong presence of local game developers and studios. The country has been successful in nurturing and supporting its homegrown talent, which has led to the creation of innovative and high-quality games. This has not only contributed to the growth of the domestic gaming industry but has also attracted international attention and investment. Furthermore, the Hungarian government has implemented supportive policies and initiatives to promote the development of the gaming industry. This includes providing financial incentives, tax breaks, and grants to game developers, as well as supporting the organization of gaming events and conferences. These efforts have helped create a favorable environment for the growth of the Games market in Hungary.
Underlying macroeconomic factors: The overall economic stability and increasing disposable income of Hungarian consumers have played a significant role in the growth of the Games market. As people have more money to spend on leisure activities, including gaming, the demand for games and gaming-related products has increased. Additionally, the favorable exchange rate and the availability of affordable internet services have made gaming more accessible to a wider audience. In conclusion, the Games market in Hungary has experienced significant growth in recent years, driven by customer preferences for digital gaming, trends in the market such as mobile gaming and esports, local special circumstances including a vibrant gaming community and supportive government policies, and underlying macroeconomic factors such as economic stability and increasing disposable income. These factors have collectively contributed to the development and expansion of the Games market in Hungary.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. 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., Consumer Insights), 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). Consumer Insights data is reweighted for representativeness.
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