Racing Games - South Africa

South Africa

The Racing Games market in South Africa is expected to witness significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach US$2.62m in 2022.
This indicates a positive trend in the demand for racing games among South_African consumers.
Furthermore, the Racing Games market is expected to maintain a steady growth rate over the period from 2022 to 2027, with an annual growth rate of 6.93%.
This growth is predicted to result in a market volume of US$3.57m by 2027.
These numbers highlight the potential for continued expansion and profitability within the Racing Games market in South Africa.
When examining the revenue breakdown within the Racing Games market, it is projected that in-app purchases (IAP) will contribute significantly, with revenues estimated to reach US$1.72m in 2022.
Additionally, paid app revenue is expected to reach US$0.10m in the same year.
Moreover, advertising revenue is projected to reach US$0.79m in 2022.
These figures underscore the various revenue streams that contribute to the overall success of the Racing Games market in South Africa.
In terms of downloads, the Racing Games market is expected to witness a substantial number of downloads, with projections indicating 44.18m downloads downloads in 2022.
This showcases the popularity and widespread adoption of racing games among South_African consumers.
It is also worth noting that the average revenue per download is currently estimated to be US$0.06.
This metric provides insights into the revenue generated per individual download, further emphasizing the potential profitability of the Racing Games market in South Africa.
In a global comparison, it is evident that in China generates the highest revenue in the Racing Games market, with projected revenue of US$726.10m in 2022.
This demonstrates the immense market size and revenue potential within the global gaming industry.
Overall, the Racing Games market in South Africa is expected to experience robust growth, driven by factors such as increasing consumer demand, advancements in technology, and the availability of various revenue streams.
These projections highlight the promising outlook for the Racing Games market in South Africa and its potential for further expansion and economic prosperity.

Key regions: Asia, Europe, United States, South Korea, Japan

Market

Region

Region comparison

Currency

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.