Word Games - Worldwide

Worldwide

The Word Games market, a thriving segment in the gaming industry, is projected to achieve a substantial revenue of US$2.23bn in 2022 worldwide.
This projection sets the stage for a promising future, with an anticipated annual growth rate (CAGR 2022-2027) of 8.74%.
As a result, the market volume is expected to expand to US$3.60bn by 2027.
Within the Word Games market, in-app purchases (IAP) are poised to contribute significantly, with projected revenues reaching US$282.60m in 2022.
Additionally, paid app revenues are expected to reach US$9.77m in the same year.
Furthermore, advertising revenues are estimated to soar to US$1,934.00m, showcasing the market's diverse revenue streams.
The popularity of Word Games market is evident in the projected number of downloads, set to reach an impressive 1.42bn downloads in 2022.
This surge in downloads indicates a high level of engagement and user interest within the market.
Currently, the average revenue per download stands at US$1.56, reflecting the monetization potential of the Word Games market genre.
When comparing global performance, it becomes apparent that in the United States leads the pack, generating a substantial revenue of US$1,735.00m in 2022.
This data underscores the country's strong presence and influence within the Word Games market.
Overall, the Word Games market is poised for continued growth and success worldwide, with revenue projections, download numbers, and country-specific insights painting a promising picture for this market segment.

Key regions: South Korea, India, Asia, Japan, Germany

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.