The video game industry is evolving and growing rapidly, with the global game market expected to be valued at $207 billion by 2026. For game developers, understanding the nuances of game marketing and the right tools for market research is no longer an option; for indie creators, it is a necessity. But how can developers use these tools to put them ahead of the pack? In this article, we will discuss the tools, techniques, and strategic processes that can help improve video game market research bolstered by facts, case studies, and actionable insights.

The Role of Market Research in the Game Industry

Market research is the first step in effectively marketing games! It helps developers to see trends, measure player tastes, and analyze competition. For indie devs, this is especially important, because they rarely have large teams to work with, so every decision has to count.

Hence, look at Saratoga, Stardew Valley — a farm simulator game where there was a huge gap. By creating a title that addressed player pain points and preferences, Developer Eric Barone exceeded over 20 million copies sold by 2023. It is a success story that underscores the importance of video game market research in identifying niches and developing games that resonate with audiences.

The Growth of the Video Game Market

The game market has exploded into one of the biggest markets over the last decade. In 2023, the global market was worth about $183.9 billion, and it is estimated to grow to $207 billion by 2026. There are a few reasons behind this growth:

• Mobile Gaming: The industry is mobile, with 51% of revenues (Source: Statista)
• Esports: The Esports market capitalization was $1.39 billion in 2023 and is expected to reach $1.87 billion by 2025 (Source: Newzoo)
• Demographic Shifts: In Surveys, 40% of gamers have adopted a new genre, more than in previous years (source), and in changing gender demographics, 46% of gamers are female now (source: Statista), and developers are taking notes.

Play an important role in staying aware of such trends in post-game analytics tools and mobile-game analytics tools.

Case Studies: How Market Research Drives Success

Case Study 1: Among Us

Among Us is developed by InnerSloth, originally released in 2018 but going viral in 2020. The success of the game is attributable to:

• Player Behavior Insights: How A Shift in Player Behavior Created Demand for Social, Cooperative Games During Covid
• Promotion: Expands reach on channel-like services like Twitch and YouTube Gaming
• Live Updates: Demonstrating enhancements from player feedback.

With these advantages, InnerSloth focused on video game market research, turning their niche title into a global sensation (Source: Steam Charts).

Case Study 2: Hollow Knight

Team Cherry’s Hollow Knight also used vendor market analysis to achieve success. The developers:

• Gazed at Gap: Sensed a lack of homogeneous 2D platformer games.
• Interacted with Supporters: Established community and gauged interest on Kickstarter
• Iterated Post-Launch: Launched post-launch updates to iterate on the game from player feedback

The game, which has sold over 3 million copies as of 2021, is proof that designing for players is worth it (Source: LEVVVEL)!

Tools and Techniques for Effective Game Market Research

It is important to get familiar with the tools and techniques that help one in the competitive game market before getting to work using them. Here are some of the most useful:

· Game Analytics Tools

Player behavior, as well as download and in-app purchase trends, can be tracked using tools such as Steam Charts and Sensor Tower. To put this in perspective, the guys at Book of Demons used Steam Spy to pick the peak hours for competitors’ titles to time their release.

·            Tools for Mobile Game Analytics

Essential Tools Like App Annie and Sensor Tower to Navigate the Hyper-Competitive Landscape of Mobile Gaming They help developers get a handle on things such as performance metrics, downloads, and revenue, as well as identifying emerging trends.

·          Social Media and Community Engagement

Feedback from players is available immediately on places like Twitter, Reddit, and Discord. By engaging with these groups, developers can learn where the pain points are and tailor their games accordingly.

·          Google Trends

It enables developers to determine hot topics and topics that players often search for and are most interested in.

Best Practices for Game Market Research

• Have Clear Goals: One of the most important things is who you want to reach or how you plan to monetize.
• Quantitative and Qualitative Data: You can use surveys to gain numerical data and use focus groups for a more in-depth understanding.
• Connect with Players: Discord and Twitch, for example, allow creators to cultivate loyal fan bases as well as gain immediate responses
• Iterate: The market research process should be iterative. You surely wouldn’t want to fall behind in the game.

The Importance of Data-Driven Decision Making

If your idea will stand out from the crowd, you need to understand how to measure trends in the gaming world — because statistics don’t lie. This is vital in data-driven decision-making. A 2022 survey by the Entertainment Software Association (ESA) supports this, revealing that 76% of players care more about gameplay than graphical fidelity. A reason for doing some market research is that player preferences are not independent.

Industry experts like Joost van Dreunen, the author of One Up: Creativity, Competition, and the Global Business of Video Games, emphasize the need for developers to “leverage data to identify underserved niches and develop games that resonate with particular audiences.” One of the corroborated studios foIndustry experts like Joost van Dreunen, author of One Up: Creativity, Competition, and the Global Business of Video Games, emphasize the need for developers to use data to identify underserved niches and develop games that resonate with particular audiences. Supercell is one of the studios following this framework, using game analytics tools to constantly improve its titles.

The Role of Emerging Technologies

Video game market research is evolving with new technology like AI and machine learning. For example, such AI-powered systems can analyze massive amounts of player data to predict trends and identify growth opportunities. These trends have caused platforms like Unity and Epic Games to respond by bringing these new technologies within their platforms, thus giving developers the tools necessary to make better-informed decisions.

VR/AR: Exploring New Horizons in Market Research: The tech powering VR/AR is evolving quickly; this opens doors for market research. According to Grand View Research, the global VR gaming market is expected to grow at a CAGR of 23-27% during the forecast period of 2023 to 2030. Keeping ahead of the curve on these trends will put developers in a position to be successful in the years to come.

Conclusion

But the game market is booming — and success is not assured. Developers can adeptly traverse this market using game marketing techniques and some of the most advanced market research tools. With trends and players, it’s about preparation and adaptation.

To learn more, read our last article: Indie Game Development Importance of Video Game Market Research.

In your opinion, what is the Video Game Market Research function? Do you think indie developers can stand out from huge studios that use those tools? Let us know your thoughts!

Q&A

Q1: How can I analyze trends in the game market, and what tools can I use?

A: The best tools for understanding player behavior and new trends are Google Trends, Steam Charts, and Sensor Tower.

Q2: What does the video game market size mean for indie developers?

Q: Indie devs have the flexibility to explore new ideas, but mainstream games tend to be more conservative, especially with corporate money driving everything.

Q3: What is the significance of community engagement for game market research?

Q: Why gauge player feedback on platforms like Discord and Twitch? A: Getting direct feedback from players on Discord and Twitch helps devs improve their game. This also strengthens the communities that love to see and play it.

Sources

Statista, Newzoo, Zion Market Research, Entertainment Software Association (ESA), Grand View Research, One Up