United States Video Game Market Size Forecast Report 2024-2030

United States Video Game Market Analysis

The United States Video Game Market is projected to reach US$196.61 billion by 2030, according to Renub Research. Video games have emerged as one of the fastest-growing entertainment sectors in the country, not only leading in revenue but also recognized as the birthplace of modern gaming. The American company Atari launched Pong in 1972, marking one of the earliest commercially successful games. A steady increase in the number of gamers each year further bolsters the market’s prospects. Factors such as population growth, expanding demographics, improved accessibility, social interaction, changing perceptions, and the cultural acceptance of gaming have all contributed to a significant rise in the number of enthusiasts. This shift has helped solidify video games as a mainstream form of entertainment, driving market demand in the coming years.

The US gaming industry is experiencing rapid growth and diversification. According to an ESA report, over 227 million gamers in the United States played video games last year, with 80% of them aged over 18. Notably, 76% of American youths under 18 are gamers, and 74% of households have at least one person who plays video games. Furthermore, 71% of parents believe video games have provided a much-needed respite for their children during the pandemic, and 66% agree that gaming has made the transition to online learning more manageable.

Market Growth Projection

The US video game market is expected to grow at a CAGR of 10.67% from 2024 to 2030. The industry has adopted new strategies to meet the increasing consumer demand and enhance user experiences. One significant trend is the shift from console gaming to mobile gaming, making video games more accessible across various digital platforms. Companies in the US gaming sector are continuously upgrading their offerings to provide high-quality entertainment, with gaming apps now often featuring free trials to attract new customers.

Over the past decade, the size of the video game market in the US has undergone significant changes, with players exploring a multitude of games across different platforms. The emergence of the metaverse is set to revolutionize the industry by creating shared virtual spaces where users can interact through avatars. While broader adoption of the metaverse is anticipated, video gaming currently leads the exploration of this exciting new domain.

Growth Driver

Cloud gaming is also on the rise in the US, allowing players to enjoy advanced games on mobile devices like smartphones without the need for hardware upgrades. The success of cloud gaming is closely tied to the rollout of 5G technology and unlimited data plans, appealing to gamers who prefer mobile gameplay. The development and investment in 5G infrastructure are crucial for its expansion.

Additionally, mobile games are surpassing their PC counterparts, driven by the availability of free-to-play options. The US video game market has significantly evolved due to the widespread use of video-enabled smartphones, a growing number of female gamers, and increased access to cloud-based services. While trends like digital content and subscription services gain traction, there remains a substantial market for physical video games and hardware upgrades.

Technological advancements like virtual reality (VR) present exciting opportunities for the gaming sector. To effectively serve their audiences, gaming companies must stay updated on emerging trends, leveraging them to innovate content, delivery methods, and marketing strategies. Understanding the capabilities of new technologies while being attuned to diverse customer preferences is essential. As a result, the US video game market reached $96.67 billion in 2023.

Dominance of Mobile Gaming

The United States Video Game Market is categorized into several segments, including Cloud Gaming, Download Games, Live Streaming, Gaming Networks, Gaming Advertising, Mobile Games, and Online Games. The mobile gaming segment has been rapidly expanding and is expected to continue its upward trajectory into 2024. Continuous technological advancements and evolving consumer preferences are driving significant changes in the mobile gaming landscape.

Developers are now exploring new dimensions of gameplay with the introduction of AR glasses and advanced augmented reality technology on smartphones. Social media platforms like Instagram and Facebook have also embraced this trend by creating unique mobile games to enhance their marketing strategies. According to Ericsson, 5G technology has facilitated speeds that are 20 times faster than 4G and reduced latency from 20 ms to 5 ms, contributing to the rise of high-quality AAA mobile games.

Young Gamers Leading Growth

By age group, the United States video game market is segmented into 18-24 years, 25-34 years, 35-44 years, 45-54 years, and 55-64 years. The youth gaming demographic (aged 18 to 24) is highly engaged in online gaming environments, spending more time in these spaces than on other media like social media, music, or television. Compared to slightly older gamers (aged 25 to 34), younger players are more inclined to spend time in virtual worlds, engaging in augmented and virtual reality games, and watching e-sports. This comfort in digital spaces, with over half preferring to socialize with friends in-game rather than in person, has significantly contributed to the growth of the US video gaming market.

Gender Dynamics in Gaming

By gender, the United States video game market is classified into female and male segments. The industry is predominantly driven by male gamers, who hold more than half of the market share. This demographic trend highlights the significant influence and engagement of male players in gaming. While the industry caters to various gaming preferences, the dominance of male players suggests a need for targeted strategies aimed at this demographic. Understanding and addressing male gamers’ preferences, interests, and behaviors are crucial for market stakeholders, shaping the industry’s content and marketing approaches.

Income Impact on Spending

The United States video game market is further divided by income into High Income, Medium Income, and Low Income categories. In this sector, consumers with medium income levels have emerged as key contributors, dedicating a considerable portion of their income to gaming-related expenses. This demographic’s willingness to spend on video games, consoles, subscriptions, and in-game purchases demonstrates the industry’s broad appeal across income levels. The medium-income segment actively participates in gaming, constituting a significant market share and impacting the industry’s economic landscape. Understanding the preferences and purchasing patterns of this income group is essential for stakeholders aiming to optimize sales and enhance market penetration within the dynamic US video game sector.

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Key Players

Prominent players in the United States video game industry include Activision Blizzard Inc., Electronic Arts, Microsoft, Nintendo Co. Ltd, Take-Two Interactive Software, Sony, Apple, and Bandai Namco Holdings Inc.

 

By Category

  1. Cloud Gaming
  2. Download Games
  3. Games Live Streaming
  4. Gaming Networks
  5. In -game Advertising
  6. Mobile Games
  7. Online games

 

 

By Age Group

  • 18-24
  • 25-34
  • 35-44
  • 45-54
  • 55-64

 

 

By Gender

  • Male
  • Female

 

 

By Income

  • Low Income
  • Medium Income
  • High Income

 

 

Company has been covered from 3 Viewpoints:

  • Overview
  • Recent Development
  • Revenue

 

 

Company Profile

  1. Activision Blizzard Inc
  2. Electronic Arts
  3. Microsoft
  4. Nintendo Co. Ltd
  5. Take- Two interactive Software
  6. Sony
  7. Apple
  8. Bandai Namco Holdings Inc

 

About the Company:
Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

Media Contact:

Company Name: Renub Research
Contact Person: Rajat Gupta, Marketing Manager
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Address: 225 Kristie Ln, Roswell, GA 30076
Email: info@renub.com
LinkedIn: https://linkedin.com/company/renub-research
Website: www.renub.com

 

 

 

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