Key regions: Europe, China, India, Japan, United States
The Games market in Mexico has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, and local special circumstances. Customer preferences in Mexico have been shifting towards digital gaming, with an increasing number of consumers opting for online gaming platforms and mobile gaming apps.
This can be attributed to the convenience and accessibility offered by these platforms, allowing users to play games anytime and anywhere. Additionally, the rise of multiplayer online games has also contributed to the growing popularity of digital gaming in Mexico, as it provides opportunities for social interaction and competition among players. In terms of market trends, the Games market in Mexico has seen a surge in the demand for virtual reality (VR) and augmented reality (AR) gaming experiences.
This can be attributed to the immersive and interactive nature of these technologies, which provide users with a more engaging and realistic gaming experience. The increasing availability and affordability of VR and AR devices have also contributed to the growth of this segment in the Mexican market. Another trend in the Games market in Mexico is the growing popularity of esports.
Esports refers to competitive video gaming, where professional players compete against each other in organized tournaments. The rise of esports in Mexico can be attributed to the increasing recognition of gaming as a legitimate sport, as well as the growing fan base and support from sponsors and advertisers. The popularity of esports has also led to the emergence of professional gaming teams and the development of dedicated esports arenas in Mexico.
Local special circumstances in Mexico have also played a role in the development of the Games market. Mexico has a large and young population, with a high percentage of the population being tech-savvy and active gamers. This demographic factor has created a favorable environment for the growth of the Games market in Mexico, as there is a large and receptive consumer base for gaming products and services.
Underlying macroeconomic factors have also contributed to the growth of the Games market in Mexico. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed consumers to allocate more of their income towards leisure activities such as gaming, driving the demand for gaming products and services in the Mexican market.
In conclusion, the Games market in Mexico is experiencing growth due to customer preferences for digital gaming, market trends such as the rise of VR/AR gaming and esports, local special circumstances including a young and tech-savvy population, and underlying macroeconomic factors such as steady economic growth and increased disposable income. These factors are likely to continue driving the growth of the Games market in Mexico in the coming years.
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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