U.S. Gaming Market Outlook (2018 to 2032)
Synopsis
The above chart is U.S. Gaming Market Outlook (2018 to 2032)
Market Dynamics
the u.s. gaming market is currently the largest in the world and continues to grow, as people of all ages increasingly turn to gaming for entertainment. according to a report from the digital entertainment group in 2018, the industry is expected to have a compound annual growth rate (cagr) of 5.5% over the next 13 years, culminating in a $51.2 billion market size by the end of 2032.
the growth is forecasted to mainly be driven by innovative technology, increasing user base, and changes in consumer behavior. mobile gaming is anticipated to be the biggest contributor, due to a sizable user base and widespread accessibility via smartphones, tablets, and other mobile devices. in 2018, the mobile gaming market in the u.s. was estimated to be worth $23.2 billion and is expected to reach $41.5 billion by 2027.
moreover, the increasing prevalence of virtual reality (vr) and augmented reality (ar) technology are also transforming the u.s. gaming landscape. companies like sony, google, and microsoft are investing large sums of money into the development of vr and ar headsets and other related systems. this is expected to lead to more immersive gaming experiences, increased user adoption, and increased revenue for the industry.
growth in the u.s. gaming market is also being driven by changing consumer purchasing habits. the increasing popularity of subscription services such as xbox live gold and playstation plus, is allowing gamers to access more content for a single monthly fee. in addition, digital downloadable games, such as those offered by valve's steam platform, are replacing physical purchases, causing a shift in revenue and growth in the u.s. gaming market.
it is expected that the u.s. gaming market will continue to thrive in the coming years, buoyed by innovation and changes in consumer behavior. companies must focus on developing innovative technologies and expanding their user base to maximise the potential in this substantial market.
