In a recent published report, Kenneth Research has updated the Market report for North America Digital Gaming Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for North America Digital Gaming Market Products.
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North America is forecasted to be one of the most prominent Digital Gaming markets in the world. Digital games has always been a popular means of entertainment for the people of the region. Even though mobile gaming is becoming very popular with the masses, console games have always held the majority of the shares of the Digital Gaming market in North America. The North America Digital Gaming market is expected to grow at a CAGR of 11.40% leading to a revenue of USD 42.79 Bn by 2023.
North America presents a very strong market with preferences for all gaming platforms- PC, mobile, and console. Most of the revenues of digital games in 2017 came from console gaming, followed by mobile and PC gaming. Mobile gaming is also gaining traction in the region as some major companies from the region like Take Two Interactive, Activision Blizzard, etc., who were previously only into PC/Online games, are entering into the mobile gaming segment. Overall the total consumer spend on video gaming has increased rapidly in the last few years at ~16.48% CAGR (2014-16) in the USA, and in Canada, digital gaming is increasingly becoming a key contributor to the country’s GDP.
By platforms, the market is segmented into PC games, mobile games, and console games. Among these segments, console games is the fastest growing segment, as well as the biggest revenue generator.
By countries, the market is divided into USA and Canada. USA is the highest revenue-generating country among the two.
Key growth factors
o The rise in affordability of the people of the region, where the growth in real median income of U.S. households, based on average age of family members, has increased from 3.2% to 4.3% in the 15-24 years category and from 2.9% to 5.6% in the 25-34 years category in 2014-2015, is further boosting the strong economic backbone of the economy. This is expected to result in higher expenditure on digital games in the coming years and thereby increase adoption of digital gaming.
o Also, the internet penetration in the region has reached 88% and the average time spent across digital media by an adult has increased from 2.7 hours/ day to 5.6 hours/ day (2008-2015). Therefore, these factors are driving the Digital Gaming market in the region.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Threats and key players:
o Given the factor that North America region is already a saturated market for digital games, the scope of further growth of the market is quite low. With an already high smartphone penetration in Canada (70%) and the USA (69%) (Ranked 6th and 7th in the world, respectively), the scope for massive development of the mobile gaming segment is low.
o Also, the working hours in the region are not very favourable for the growth of the market. In the U.S., 85.8% of males and 66.5% of females work more than 40 hours per week. The high working hours for the US youth may lead to a reduction in time spent on gaming.
o The key players in the North America Digital Gaming market are Activision Blizzard, Electronic Arts, Take Two Interactive, Zynga, Microsoft Corporation. etc.
What’s covered in the report?
o Overview of the North America Digital Gaming market
o Overview of different business models in digital games
o Analysis of the value chain of games and distribution channel analysis of games
o Historical, current and forecasted market size data for PC games Market, Mobile Games market and Console Games market
o Historical, current and forecasted market size data for Freemium, Pay to play, Advertising models market
o Historical, current and forecasted market size data for Shooter, Role- play Action, Sports, Strategy, Other genres market
o Historical, current and forecasted market size data for countries (U.S., Canada) market size data for Digital Gaming Market segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Market Trends in North America Digital Gaming Market
o Qualitative analysis of the key drivers and challenges affecting the North America Digital Gaming Market and its segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Analysis of spending for segmentation by platforms– (U.S. and Canada)
o Analysis of the competitive landscape and profiles of major players operating in the market
o Get a broad understanding of the North America Digital Gaming Market,
o Get a broad understanding of the different business models used in digital games
o Get an understanding of how the games reach the end users from the developers
o Get country-specific market size and observations for the Digital Gaming market and its segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Get specific drivers and challenges for Digital Gaming market and its segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Get analysis of spending for segmentation by platforms– (U.S. and Canada)
o Recognize major competitors’ business and market dynamics, and respond accordingly
With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at [email protected].
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of North America Digital Gaming Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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