What is the growth in US gaming market?

The market size of the Video Games industry is expected to increase 9.4% in 2023. Has the Video Games industry in the US grown or declined over the past 5 years? The market size of the Video Games industry in the US has grown 3.9% per year on average between 2018 and 2023.

How big is the gaming market in the US?

Revenue in the Video Games segment is projected to reach US$89.57bn in 2023.

What is the US market for video games?

As well as being one of the leading gaming market in terms of revenue, the United States is also considered by many as the birthplace of gaming as we know it today. In 2022, the video game market size in the United States was estimated to be 97.67 billion U.S. dollars, setting a new all-time industry record.

How popular is gaming in the US?

According to US gaming statistics, 52% of gamers subscribe to at least one gaming service. That accounts for around 1.61 billion gamers globally. Console gamers (74%) are more likely to subscribe to a gaming service than PC gamers (66%) in the US.

Why is gaming so popular in USA?

A Very Diverse Market

Another reason behind the huge popularity of video games in the USA is that there are hundreds of new titles that are being released every day. The mobile app stores and markets like TapTap, are filled with new titles every day and these are already with over half a million gaming titles.

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Why is the gaming industry growing so quickly?

Technical innovations, expanding market demographics, and an increase in video game-related merchandise have all contributed to the video game industry's new scope.

What is the US gaming demographic?

The American gamer population is 54% male and 46% female. Of those females, women 18 and older account for a greater portion of the population than males younger than 18. The average female video game player is 14 years old, while the average male video game player is 13.

How much revenue does gaming bring in the US?

Washington, D.C. – U.S. commercial gaming revenue reached an annual record of $60.4 billion in 2022, according to the American Gaming Association's (AGA) Commercial Gaming Revenue Tracker. This marks the first $60 billion year for the commercial gaming sector, passing the previous record of $53.0 billion set in 2021.

How big is eSports in the US?

The market's largest segment is Sponsorship & Advertising with a market volume of US$180.80m in 2023. With a projected market volume of US$445.20m in 2023, most revenue is generated in China. In the eSports market, the number of users is expected to amount to 41.36m users by 2027.

What is the fastest growing segment in the overall gaming market?

The report titled "Global Paid Competitive Gaming Report 2023," said that PCG, a relatively new form of gaming, is set to become one of the fastest-growing gaming segments. The report said the PCG market is expected to reach $16 billion by 2024. With a compound annual growth rate of 31.9 per cent from 2021 to 2024.

What is the fastest growing segment of the video game market?

Firstly, mobile games represent the sector with the strongest growth. In 2018, such games generated a profit of 43 billion dollars, while in the first half of 2019, this figure already climbed to 39 billion dollars.

What are the market trends in gaming industry?

Three big trends are changing the video game industry: better technology, metaverse-style environments, and new monetization models. As competition increases, scale will become even more important, since big games are expensive to make and require a massive global audience to succeed.

Which country is no 1 for gaming?

As of 2022, it is estimated that the United States ranks first among the biggest gaming markets worldwide, with a revenue of 54.9 billion U.S. dollars. The video gaming market in China ranked second, generating an approximate 44 billion U.S. dollars in annual revenues.

What are the leading gaming markets in Asia?

India, Thailand, and the Philippines are the fastest growing markets for games revenue and number of gamers. Japan and Korea are the most mature markets in the Asia-10 region, accounting for over 77% of revenue. For 2022, Japan games revenue is down 2.6% YoY and Korea's is flat.

Which country likes gaming the most?

According to a survey of internet audiences in the third quarter of 2022, 81.9 percent of global internet users played video games on any device. The Philippines had the highest video gaming usage reach, ranking first with a gaming penetration of 95.8 percent.

Where is the gaming capital of America?

After comparing data from America's 150 largest cities, personal-finance website WalletHub declared Orlando, Florida, the best U.S. city for gamers in 2017.

Who are the big three in gaming industry?

The 'big three" game publishers are the three which currently make major home consoles: Nintendo, Microsoft, and Sony. Each of these companies holds a disproportionate ability to influence the entire culture given that their machines are what define each generation.

Is gaming one of the fastest growing industries?

Despite being a niche subculture, it is one of the fastest-growing industries in the world. Estimated to reach $1.62 billion by 2024, the esports industry has a long history, rising to contemporary prominence as one of the most-watched competitions in history.

How big is the gaming market in 2023?

Revenue in the Games segment is projected to reach US$396.20bn in 2023. In global comparison, most revenue will be generated in China (US$110,100.00m in 2023). In the Games segment, the number of users is expected to amount to 4.33bn users by 2027.