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+16.1% | Digital Gaming Market Trends Exhibits Remarkable Growth Opportunity
Digital Gaming Market
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Summary
The Latin America digital gaming market is projected to expand at a compound annual growth rate (CAGR) of 16.1%, to reach a value of USD 10.32 Bn by 2023. The Latin American digital gamers' change in behavior fueled by economic improvement, increased smartphone penetration, and improved mobile network connectivity is steadily increasing the demand for digital games across the region. This is making Latin America the fastest growing digital gaming industry in the world.
Latin America (LATAM) Digital Gaming Market (2018 - 2023)
Segmentation based on platforms:
The gaming market comprises PC games, mobile games, and console games. Increased adoption of smartphones and 4G network across the Latin American region and the Caribbean is aiding the growth of the mobile gaming market. The mobile games segment is expected to witness the highest CAGR (18.5%) during the 2018-2023 period.
Companies covered:
Activision Blizzard, Nintendo, Sony Interactive Entertainment, Microsoft
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Segmentation based on revenue models:
The Latin America digital gaming market is largely dominated by the freemium or free-to-play model, which accounts for 39% of the total gaming market in the region. This is the fastest growing segment among the revenue models, and is expected to expand at a CAGR of 17.6% during the 2018-2023 period. This business model has been helping in the acquisition of a strong customer base through referral network, word-of-mouth, and organic search marketing. Besides, 66% of gamers from Latin America play in console, which compels them to buy more machines for high-quality gaming experience. This is expected to propel the growth of the pay-to-play model, especially in Brazil and Mexico.
Segmentation based on genre:
Fighting games is the most popular gaming genre across PC and mobile platforms. The domestic companies are increasingly deploying fast paced stealth fighting games, and these games are further increasing the popularity of this genre. The fighting games genre is the largest segment of the 2018 LATAM digital gaming market, accounting for 25% of the total LATAM digital gaming market revenue. This segment is closely followed by the racing games genre, which is expected to reach USD 2.21 Bn by 2023. Further, the launch of innovative games in the adventure games genre is anticipated to enhance the growth of the segment at an impressive CAGR (16.9%) during the 2018-2023 period.
Segmentation based on country:
The Mexico digital gaming market is expected to expand at a CAGR of 15.69% during the forecast period (2018-2023), leading to a global revenue of USD 3.15 Bn by 2023. Consoles are a major part of the Mexico digital gaming market. Nonetheless, mobile gaming has taken over console gaming, and is expected to reach USD 1.91 Bn by 2023.
The Brazilian Association of Digital Game Developers is bringing innovation to gamers and developers. It is also nurturing its partnerships with the Brazilian Trade and Investment Promotion Agency to promote games designed by Brazilians abroad. This is providing a boost to the digital gaming industry in Brazil.
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Chapter 1. Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in this study
1.3. Executive summary
Chapter 2: Latin America digital gaming market - overview
2.1. Market definitions
2.2. Market overview
- Latin America market revenue (USD Bn)
- Forecasted Latin America market revenue (USD Bn)
- Country-wise market revenue (USD Bn)
2.3. Market drivers
2.4. Market challenges
2.5. Market trends
Chapter 3. Latin America digital gaming market - based on platforms
3.1. PC gaming market revenue (2018-2023) (USD Bn), growth drivers and challenges
3.2. Mobile gaming market revenue (2018-2023) (USD Bn), gr
....Continued
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HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the "Accurate Forecast" in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their "Goals & Objectives".
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