North American gaming market Number of 5G mobile subscribers (millions) North America 2019 2027
DUBLIN, Feb. 26, 2024 (Globe Newswire) — The “North American Gaming – Market Share Analysis, Industry Trends and Statistics, Growth Forecasts 2019-2029” report has been added. ResearchAndMarkets.com Recruitment.
The North American gaming market size is estimated to be USD 68.57 billion in 2024 and is projected to reach USD 103.83 billion by 2029, at a CAGR of 8.65% during the forecast period (2024-2029). grow in
Increasing affordability for people in the region and strong economic backbone coupled with modern technology are driving the market growth. Additionally, free-to-play mobile games are driving market growth in the region.
Main highlights
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The North American gaming market has experienced unprecedented growth in recent years due to increased mobile penetration and the availability of new consoles in the North American market. The United States is one of the largest gaming industry markets and has the most extensive library of games available to its citizens.
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Demand for Canadian gaming companies, technology, products and expertise is growing. Several key factors will drive the expansion of Canada’s gaming industry, including technological advances, consumer preferences for new products, changing public perceptions, and innovation. This has led to interest from international companies looking to establish a strong foothold in Canada.
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Adoption of gaming platforms such as E-sports will drive the market in the North American region. The region is also witnessing significant activity from start-ups that will further drive market growth. For example, “The Forge Arena” was developed by Phoenix Rising Studio, a Canadian startup aiming to become a new entrant in eSports.
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Limiting factors such as digital privacy are hampering the online gaming sector. Digital piracy is the illegal copying or distribution of copyrighted information over the Internet. It has a negative impact on creative fields, including games. Online piracy has economic consequences, putting consumers at risk of financial loss. It also exposes users to security threats such as identity theft and exposing children to inappropriate information.
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Due to the coronavirus disease (COVID-19) outbreak, home entertainment has played an important role for gamers during the lockdown. During the pandemic, a video gamer in the United States reported that he spent 45% more time playing video games during the quarantine period than the previous week. Additionally, Esports gained even more momentum after the pandemic, as first-time downloads on Twitch, his platform for live streaming for gamers, increased by 14%.
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