Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- The "North America Gaming - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets.com's offering.
The North America Gaming Market size is estimated at USD 68.57 billion in 2024, and is expected to reach USD 103.83 billion by 2029, growing at a CAGR of 8.65% during the forecast period (2024-2029).
The rise in the people of the region's affordability and the strong economic backbone coupled with the latest technologies drive the market's growth. Moreover, free-to-play and mobile games are boosting the market growth in the region.
Key Highlights
- The gaming market in North America saw 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.
- Canada's gaming enterprises, technologies, products, and expertise are witnessing an increasing demand. Several key factors, such as technological innovations, consumer preferences for new products, shifts in public perception, and innovation, drive the expansion of the Canadian gaming industry. This translated into interest from international companies wanting to make a strong foothold in Canada.
- Adopting Gaming Platforms, such as E-sports, drives the North American region's market. Also, the region is witnessing considerable activity from startups that further propel market growth. For instance, 'The Forge Arena,' made by Phoenix Rising Studio, is a Canadian startup looking to become a new player in eSports.
- Restraining factors like digital privacy hinder the online gaming sector. Digital piracy is the illicit copying or dissemination of copyrighted information through the Internet. It has a negative impact on the creative sectors, including gaming. Online piracy has an economic consequence, putting consumers at risk of financial loss. It also exposes users to security threats, such as identity theft and exposing children to improper information.
- With the outbreak of COVID-19, home entertainment played a significant role for gamers during the lockdown. During the pandemic, video gamers in the United States reported spending 45% more time playing video games amid the quarantine than in the previous week. Moreover, Esports gained further traction after the pandemic as there was an increase of 14% in the first-time download of Twitch, a live streaming platform for gamers after the epidemic.
For more information about this report visit https://www.researchandmarkets.com/r/a403fw
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
