On May 17th, ResearchAndMarkets.com released a new report providing an analysis of the South Korean gaming market between 2022 and 2026. based on this survey, the Korean gaming sector will be worth $20.98 billion by 2026 registering a compound annual growth rate (CAGR) of 6.21% between 2022 and 2026.
The Korean video game market is the fourth-largest in the world behind the United States, China, and Japan. In fact, last year, South Korea made up more than 6% of the global gaming industry.
Mobile games were the most popular form of gaming in the Korean market last year. Furthermore, the Korean gaming sector’s export value rose by a CAGR of 9.19% from last year to this year.
“The growth in the market has been driven by factors like rising smartphone penetration, rapid urbanization, rising gaming subscribers’ penetration rate, expansion of MMORPGs, cross-platform gaming coming to a reality, and surging youth population,” the report reads.
(All information was provided by GlobeNewswire)