In a recent published report, Kenneth Research has updated the Market report for U.S. 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 U.S. Digital Gaming Market Products.
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The U.S. is projected to be one of the most prominent digital games market in the world. Digital games have always been a favorite choice of entertainment for the people of the region. In recent years, there has been a transformation in the distribution channel of the games in the country. Research shows that game sales via digital means are dominating the U.S. games market while boxed games are slowly becoming the second choice.
The U.S. presents a robust market with preferences for all gaming platforms- PC, mobile, and console. Though gaming on a console is most popular in the country, the time spent on mobile gaming has also increased. Mobile gaming is gaining traction as some major companies in the nation 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 spending on video gaming has increased rapidly in the last few years at ~16.48% CAGR (2014-16) in the U.S. Also, the high growth of interest in eSports and virtual-augmented reality, clubbed with the increasing prevalence of digitally downloadable games are expected to drive the Digital Games market forward in the country.
By platforms, the market is segmented into PC games, mobile games, and console games. Among these segments, console games is the most significant revenue generator while mobile games have exhibited the fastest growth rate.
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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Key growth factors:
o With a growth in the median income of U.S. hoU.S.eholds, the purchasing power of people has gone up, resulting in an increase in expenditure on games. It 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, 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 will increase adoption of digital gaming.
o With the introduction of events like eSports in the U.S. supported by astounding internet connectivity at 14-17 Mb/s as on 2016, the U.S. stands as a significant market for the growth of online gaming.
Threats and key players:
o Given the factor that the U.S. is already a saturated market for digital games, the scope of further growth of the market is quite low. With already high smartphone penetration in the U.S.A (69%), the range of massive development of the mobile gaming segment is small.
o Also, the working hours in the region are not very favorable 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 U.S. youth may lead to a reduction in time spent on gaming.
o The key players in the U.S. 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 U.S. Digital Gaming market
o The historical, current and forecasted market size data for the U.S. Digital Gaming market
o The historical, current and forecasted market size data for the segments of the market – by platforms– PC games, console games, and mobile games
o The historical, current and forecasted market size data for the segments of the market – by revenue models (Freemium, Pay to Play, Advertising)
o The historical, current and forecasted market size data for the segments of the market – by genres (Shooter, Role- play Action, Sports, Strategy, Others)
o Market trends in the U.S. Digital Gaming market
o Market drivers and challenges in the U.S. Digital Gaming market
o Analysis of spending for segmentation by platforms
o Profiles of major players operating in the market
o Get a broad understanding of the U.S. Digital Gaming market and its segmentations – by platforms– PC games, console games, and mobile games, – by revenue models (Freemium, Pay to Play, Advertising), by genres (Shooter, Role- play Action, Sports, Strategy, Others)
o Get specific drivers and challenges affecting the U.S. Digital Gaming market and its segmentations (By platforms, by revenue models, by genres)
o Get specific trends occurring in the U.S. Digital Gaming market
o Get analysis of spending for segmentation by platforms
o Recognize significant competitors’ business and market dynamics, and respond accordingly
With the given market data, Netscribes offers cU.S.tomizations according to specific needs. Write to U.S. 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 U.S. 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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