NEW YORK, Feb. 15, 2024 /PRNewswire/ — The video game market in US is expected to grow by USD 22.99 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 11.13% during the forecast period, according to Technavio. The market is experiencing growth due to rising eSports tournament popularity, driven by increased participation from pro gamers. Major tech firms like Intel, Micro-Star INT’L, and Logitech are boosting funding, encouraging enterprise investment. This trend is anticipated to drive market growth in the forecast period. The expanding presence of female gamers, particularly in mobile gaming, is reshaping the market landscape. This shift necessitates game developers to produce more inclusive titles, driving diversity in offerings. Such trends are driving market growth, presenting lucrative opportunities for B2B stakeholders to tap into during the forecast period. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Free Sample Report.
Technavio has announced its latest market research report titled Video Game Market in US 2023-2027
|
Report Coverage |
Details |
|
Page number |
132 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 11.13% |
|
Growth 2023-2027 |
USD 22.99 billion |
|
Structure |
Fragmented |
|
YoY growth 2022-2023(%) |
10.37 |
Increasing cost of game development may impede growth.
The market is segmented by Platform (Mobile devices, Consoles, and Computing devices) and type (Offline and Online). By platform, the mobile devices segment is estimated to witness significant growth during the forecast period. The growth in this segment is driven by factors, like the increasing number of consumers who use their smartphones and tablets as essential gaming platforms. The main advantage of this segment is that, with users able to access it in app stores such as Apple’s App Store or Google Play, it can be distributed relatively easily. This segment has become more widely adopted because of its lower complexity and is available to a wider range of audiences. In addition, this segment is also growing due to the variety of titles available. As a result, such factors are likely to fuel the expansion of the mobile devices segment, hence driving growth during the forecast period.
Type (Offline and Online). Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a Free PDF Sample Report
We provide a detailed analysis of 20 companies including Activision Blizzard Inc., Apple Inc., CyberAgent Inc., Electronic Arts Inc., Epic Games Inc., Microsoft Corp., NetEase Inc., NEXON Co Ltd., Nintendo Co. Ltd., Roblox Corp., Sega Sammy Holdings Inc., Sony Group Corp., Square Enix Holdings Co. Ltd., Take Two Interactive Software Inc., The Walt Disney Co., Ubisoft Entertainment SA, Valve Corp., Warner Bros Discovery Inc., Bandai Namco Holdings Inc., and Embracer Group AB.
Activision Blizzard Inc. – The company offers video games such as Candy Crush, Call of Duty, World of Warcraft, Overwatch, Hearthstone, and Diablo delivering interactive gaming and entertainment experiences. This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information
The United States gaming market is a dynamic ecosystem shaped by the proliferation of video streaming apps and the ubiquity of mobile devices and televisions. It intertwines with the realms of movies, TV shows, and live events, catering to diverse consumers. The gaming industry thrives across platforms, including PC and console, captivating players of all ages, particularly American kids. A recent study conducted by the ESA (Entertainment Software Association) underscores the significance of gaming in American culture, revealing the profound impact on entertainment preferences and consumption habits. As technology advances, the landscape continues to evolve, reflecting the evolving tastes and behaviors of consumers within the vibrant gaming ecosystem.
The industry is a dynamic landscape shaped by American households’ increasing engagement with smartphones, consoles, and PC gaming. Notably, the influence of Chinese gaming companies has grown, introducing new competition and driving video gaming trends. Major players such as Microsoft, Nintendo, and Activision dominate with their consoles, games, and platforms like Twitch. Innovations like Xbox Game Pass reflect evolving trends, offering subscription-based gaming experiences. The Mobile Gaming Segment flourishes, catering to on-the-go players. Amidst fierce competition, the allure of console gaming remains strong, bolstered by advancements in technology and immersive experiences. As the industry continues to evolve, US-based video game companies navigate challenges and opportunities, shaping the future of interactive entertainment.
Related Reports:
The video game market is estimated to grow at a CAGR of 8.1% between 2022 and 2027. The size is forecast to increase by USD 89.38 billion.
The visual effects (VFX) market is estimated to grow at a CAGR of 14.2% between 2023 and 2028. The size is forecast to increase by USD 10.50 billion.
ToC:
Executive Summary
Landscape
Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Platform
Segmentation by Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio