Latin America Digital Gaming Market, PC Games, Mobile Games and Forecast 2018 to
Posted by facto on October 15th, 2019
Latin America is one of the emerging Digital Gaming market. Governments in Latin America have recognized the industry, and it is identified as an important part of the industry promotion agencies and their business events. Video games is one of six industries of the MICSUR, the Southern Cultural Industries Market. The Latin America Digital Gaming Market is expected to grow at a CAGR of 11.40%) leading to a revenue of USD 6.29 Bn by 2023. In 2017, revenues from PC, mobile, and console in LATAM were almost equally shared. However, the mobile segment is expected to become the largest segment in terms of revenue share in the coming years. While mobile gaming will take off in this region’s market, consoles are forecasted to grow at the same pace or slightly higher after the release of the new generation consoles.
The distribution and marketing for digital games are being revamped in the region. Companies like Sony and Microsoft have new programs for their console markets in Latin America that are open to independent developers and small studios, which in turn will strengthen console gaming in the region.
By platforms, the market is segmented into PC games, mobile games, and console games. Among these segments, the mobile games is the fastest growing segment, as well as the biggest revenue generator of 2017.
By countries, the market is divided into Brazil, Argentina and the Rest of LATAM.
Key growth factors:
o Growth in GDP in the region is expected to boost the Digital Gaming market in the coming years. Brazil and Argentina are slowly but steadily coming out of recession and inflation is also controlled at sub-nominal levels, hinting at a favourable environment for the growth of the gaming industry.
o Driven by increasing smartphone penetration, there is a shift in the digital media landscape and mobile gaming, which already has an annual growth that is 50% higher than other markets in the region, is expected to grow at a significant rate and drive the overall Digital Gaming market in Latin America.
Threats and key players:
o Low budget games are made in LATAM due to the economic limitations of the region. Since spending on development and advertising is insufficient, the quality of games aren’t up to the mark and gamers are often unaware about the existence of such games. This inhibits the growth of the market. Also, poor internet connectivity in some parts of Latin America like Costa Rica and Paraguay poses problems for the growth of digitally-downloadable and online games.
What’s covered in the report?
o Overview of the Latin America Digital Gaming market
o Get a broad understanding of the Latin America Digital Gaming Market,
Enquiry about this Report @ https://www.factomarketinsights.com/enquiry/494
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About the Authorfacto
Joined: October 7th, 2019
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