KEY FINDINGS The South Korea video games market is expected to grow at a CAGR of 4.965% during the forecast period of 2017-2025. The market value is expected to increase from $2772.1 million in 2016 to $4366.5 million by 2025. This anticipated growth is in lieu of the fact that video games have become an affordable luxury in the otherwise economically stagnant nation.
MARKET INSIGHTS The South Korea market is segmented on the basis of distribution channels, such as online retailing and store-based retailing and on the basis of the type, into hardware and software. The software segment has the highest share in the market. In the year 2016, mobile games were the most profitable segment of the market, especially due to the in-game purchases. Therefore, this is the area on which the leading market players are now focusing their marketing strategies. One such strategy is to move the marketing media for games to TV commercials. This strategy has proved highly effective to popularize the games across consumers of all ages.
COMPETITIVE INSIGHTS Some of the major companies in the market include Blizzard Entertainment Inc, Bandai Namco, Wargaming.Net, Warner Bros Entertainment Inc, Sony Corp, Nintendo, Activision Inc, King Digital Entertainment Plc, etc.