A report from Research and Markets projects that the Korean gaming market will reach $20.98 billion in 2026, growing at a compound annual growth rate of 6.21% during the four year period. Korea is the world’s fourth largest gaming market, coming in behind the US, China, and Japan.
The report suggests that the gaming market has been driven by an increase and availability of smartphones, rapid urbanization, the COVID-19 pandemic, more cross-platform gaming, and a surging youth population.
The dominant share of the market in recent years belongs to mobile gaming, which as previously mentioned, explains how more smartphones equal a bigger, faster growing market.
In 2021, Korea accounted for more than 6% of the worldwide gaming industry, while the country’s gaming market export value increased at a compound annual growth rate of 9.19%.
(All information was provided by Cision PR Newswire)