Latin America (LATAM) Digital Gaming Market to Expand at 16.1% CAGR Till 2023
Research On Global Markets has announced the addition of a market research report titled "Latin America (LATAM) Digital Gaming Market (2018 - 2023)" to their offering. According to the Research On Global Markets analysts, the Latin America digital gaming market is projected to expand at a compound annual growth rate (CAGR) of 16.1% and be worth USD 10.32 Bn by 2023. The Latin American digital gamers’ change in behavior, driven by economic improvement, increased smartphone penetration, and improved mobile network connectivity, is steadily fueling the demand for digital games across the region.
The report published by Research On Global Markets features comprehensive analysis of the digital gaming market in LATAM. The LATAM digital gaming market is primarily segmented based on platform, revenue model, genre, and country. Based on platforms, the market comprises PC games, mobile games, and console games. Increased adoption of smartphones and 4G network across the region is aiding the growth of the mobile gaming segment. The segment is expected to witness the highest CAGR (18.5%) during the 2018-2023 period.
In terms of revenue models, the Latin America digital gaming market is largely dominated by the freemium or free-to-play model, which holds almost 39% share 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. Moreover, based on genre, fighting games is the most popular gaming genre across PC and mobile platforms. The fighting games genre was the largest segment of the LATAM digital gaming market in 2018, accounting for 25% of the total market revenue.
The market research report features the performance of the LATAM digital gaming market across the key geographies of Latin America. 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.
Research On Global Markets also tracks the performance of some of the major players operating in the market including Activision Blizzard, Nintendo, Sony Interactive Entertainment, and Microsoft, among others.
Some of the key topics covered in this report are:
- Latin America market revenue (USD Bn)
- Forecasted Latin America market revenue (USD Bn)
- Country-wise market revenue (USD Bn)
- LATAM Digital Gaming Market – Segmentation Based on Platform
- LATAM Digital Gaming Market – Segmentation Based on Revenue Model
- LATAM Digital Gaming Market – Segmentation Based on Genre
- Qualitative analysis of the major drivers and challenges affecting the market
- Analysis of the competitive landscape and profiles of major players operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for digital gaming in Latin America to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.