Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in NAFTA has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Games market in NAFTA have shifted towards digital and mobile gaming. With the widespread availability of smartphones and high-speed internet, consumers are increasingly turning to mobile devices for gaming. This trend is particularly pronounced in the younger demographic, who are more likely to engage in gaming activities on their smartphones. Additionally, the rise of e-sports has led to a surge in interest in competitive gaming, with a growing number of players and spectators participating in online tournaments and events. Trends in the market are also shaping the Games industry in NAFTA. One notable trend is the increasing popularity of virtual reality (VR) and augmented reality (AR) gaming. These technologies offer immersive and interactive gaming experiences, attracting a new segment of customers who are looking for innovative and engaging gameplay. Furthermore, the rise of cloud gaming has revolutionized the way games are accessed and played, allowing users to stream games directly to their devices without the need for physical copies or high-end hardware. Local special circumstances in the NAFTA region have contributed to the growth of the Games market. For instance, the presence of major gaming companies and studios in the United States and Canada has fostered a vibrant ecosystem for game development and innovation. This has led to the creation of high-quality games that cater to diverse interests and preferences. Additionally, the strong cultural influence of gaming in Mexico has contributed to the popularity of the Games market in the region, with a growing number of Mexican gamers and game developers making their mark in the industry. Underlying macroeconomic factors have also played a role in the development of the Games market in NAFTA. The region's strong economic growth and increasing disposable incomes have allowed consumers to spend more on entertainment and leisure activities, including gaming. Furthermore, favorable government policies and incentives have encouraged investment in the gaming industry, fostering a conducive environment for growth and innovation. In conclusion, the Games market in NAFTA is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital and mobile gaming, the rise of VR and AR gaming, the popularity of e-sports, and the presence of major gaming companies and studios are all contributing to the expansion of the market. With continued technological advancements and favorable market conditions, the Games market in NAFTA is poised for further growth in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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