Latest News:- Video Game Market in US: Mobile devices is expected to lead the Platform segment during 2023-2027

Video Game Market in US to grow at a CAGR of 11.13% during 2023-2027

The Video Game Market in US is expected to grow at a CAGR of 11.13% during 2022 and 2027. During this period, the market is also expected to show a growth of USD 22.99 billion. The video game industry in the US has experienced a significant demographic shift, with an increasing number of women entering the gaming scene. Traditionally, the market was primarily male-dominated. However, the proliferation of mobile gaming and other accessible platforms has led to a surge in female participation. This demographic shift presents a substantial opportunity for growth, as game developers recognize the importance of catering to a more diverse audience. As a result, we have seen the emergence of new game genres and themes that resonate with female preferences, such as storytelling, social interaction, simulation, and puzzle-solving. This trend is expected to continue, as game companies strive to expand their market potential and create offerings that appeal to a broader audience. 

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The Mobile devices subsegment is expected to dominate the Platform segment during the forecast period 

Technavio analysts predict that the Mobile devices subsegment will lead the Platform segment during 2023 and 2027 The mobile devices segment emerged as the leading segment in the US video game market in 2022, accounting for a significant market share. With an increasing number of consumers preferring smartphones and tablets as their preferred gaming platforms, this trend is expected to continue. Mobile games, characterized by their smaller scale and simplicity, cater to a broader audience, particularly casual gamers seeking convenient and easily accessible entertainment. The US market, home to over 307 million smartphone users, presents a vast potential audience for the video game industry.

Here are the various ways based on which the market is segmented: 

• Platform
  • Mobile devices
  • Consoles
  • Computing devices
• Type
  • Offline
  • Online
• Geography
  • North America

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish rising penetration of smartphones and improving internet access

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The video game market in the US has been experiencing remarkable growth, driven by the passion and enthusiasm of millions of gamers. With a cultural reputation as a significant player in the entertainment industries, video games offer social interplay and accessibility like no other form of media. The demographics of video gamers continue to expand, with population growth and the penetration of technologically advanced smartphones leading to an increase in casual gamers. The market outlook is positive, with commercial success stories like 3D games, online gaming, and downloadable games dominating the scene. Gaming networks and subscription-based services, such as Google Stadia, are revolutionizing the industry by providing access to high-quality games on demand. The US, the birthplace of many iconic games, remains a hub for innovation and creativity. Video games offer social interaction, entertainment, and a sense of community, making them an essential part of modern culture. As the industry continues to evolve, B2C enterprises must adapt to meet the changing needs and preferences of consumers. The future of the video game market in the US is bright, with endless possibilities for innovation and growth.

Market Research Overview

According to Technavio, the US video game market is a segment of the expansive global media and entertainment industry. This sector encompasses companies dealing in advertising, broadcasting, cable and satellite, publishing, film and entertainment, interactive home entertainment, and interactive media and services. The global media and entertainment market comprises entities involved in the production and sale of entertainment products and services, such as movie and television screenings, music production and distribution, entertainment theaters, sports teams, and online content providers.

The Video Game Market in US is experiencing significant growth, fueled by the rising penetration of smartphones and improving internet access. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/