North America Digital Gaming Market to reach USD 492.5 billion by 2031 from USD 203.4 billion in 2022, at a CAGR of 13.4% during the forecast period

Key Companies Covered in the North America Digital Gaming Market Research are Nvidia Computer Game Company, Rockstar Games Inc., Activision Blizzard, Bethesda Softworks LLC, Electronic Arts Inc., Gameloft, Microsoft Corporation, Nexon Co, Ltd., Nintendo Co., Ltd., Sony Corporation, Ubisoft Entertainment S.A. and other key market players.

The global North America Digital Gaming Market size is projected to reach USD 492.5 billion by 2031 from USD 203.4 billion in 2022, at a CAGR of 13.4% during the forecast period. Kenneth Research released a report on North America Digital Gaming Market consisting of detailed analysis of the market and industry insights over the forecast period of 2022-2031. The latest trends and business opportunities in the market are discussed in the report on the basis of analysis of the market value and calculation of the CAGR during the forecast period.

The market is expected to be impacted by the rise in demand for video games and affordable gaming solutions. The launch of a new range of games also affects the market positively as users’ interest in unique experiences is soaring. 

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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

North America Digital Gaming Market

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.

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

Why buy?
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

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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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