South Korea Gaming Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 7.60% (2024-2032)
South Korea has a highly tech-savvy population with a strong digital infrastructure. The presence of high-speed internet connectivity in the country is impelling the market growth. According to the latest report by IMARC Group, the South Korea gaming market size is projected to exhibit a growth rate (CAGR) of 7.60% during 2024-2032.
South Korea Gaming Industry Trends and Drivers:
South Korea has a highly tech-savvy population with a strong digital infrastructure. The presence of high-speed internet connectivity in the country is impelling the market growth. The rollout of fifth generation (5G) networks provides faster and more reliable internet connections, which are crucial for online gaming and cloud gaming. Reduced latency and increased bandwidth improve real-time multiplayer experiences and enable more complex and data-heavy games.
Furthermore, the rising popularity of esports among individuals in South Korea is bolstering the market growth. In addition, the rapid technological advancements and widespread use of mobile devices are supporting the market growth. People are increasingly adopting smartphones and tablets due to their enhanced convenience and portability. Besides this, innovations in gaming controllers like haptic feedback and adaptive triggers are strengthening the market growth.
These features provide more tactile and immersive experiences by simulating different sensations and resistance in the controller. Moreover, virtual reality (VR) immerses players in a fully virtual environment by providing a more engaging and interactive experience. Another significant driver is the cultural aspect of gaming in the country. A strong cultural acceptance and support for gaming as both a recreational activity and a competitive sport is bolstering the market growth.
The presence of professional esports teams and a dedicated fan base aid in sustaining high engagement levels. Apart from this, the rising number of gaming tournaments in South Korea is propelling the market growth. In line with this, governing agencies in the country are supporting the gaming industry through various initiatives, including funding for game development and policies that foster a favorable environment for gaming companies.
Furthermore, South Korea is a hub for game development, with several successful gaming companies that produce popular titles and drive international interest. The export of Korean games further contributes significantly to the country’s revenue.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-gaming-market/requestsample
South Korea Gaming Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Device Type:
Consoles
Mobiles and Tablets
Computers
Breakup by Platform:
Online
Offline
Breakup by Revenue:
In-Game Purchase
Game Purchase
Advertising
Breakup by Type:
Adventure/Role Playing Games
Puzzles
Social Games
Strategy
Simulation
Others
Breakup by Age Group:
Adult
Children
Breakup by Region:
Seoul Capital Area
Yeongnam (Southeastern Region)
Honam (Southwestern Region)
Hoseo (Central Region)
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
American Express Company
Kakao Pay Corp.
Mastercard Inc.
Naver Corporation
NHN PAYCO Corp.
Rapyd Financial Network (2016) Ltd.
Samsung Electronics Co. Ltd.
Visa Inc.
Viva Republica Inc.
Key highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
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