The gaming industry remains one of the fastest-growing forms of entertainment in today’s modern virtual and gaming world. Although the United States has always remained one of the most prominent nations to build an extensive gaming user base, other markets have significantly expanded in the last few decades.
Europe and Asia may also lead the race. Still, Latin America is growing to become more than just a target market for the best online casino sites and betting dynamics. Video games and the industry have also expanded to reach and dominate the southern hemisphere in the western world.
The Latin American Gaming Market
Studies and experts estimate that over the last decade, the global gaming industry has grown and recently reached more than 2.5 billion gamers. Latin America has 3.6 percent of the global market.
The overall industry’s worth is estimated to be around 138 billion dollars. Countries such as China, the United States, and Japan still lead as the most profitable markets in the world. In Latin America, Mexico is the country with the highest reported levels of revenue generated from the gaming industry.
In Latin America as an aggregate market, it is estimated that there are over 49 million gamers. The rank is once again led by Mexico, which continues to lead the industry. Other countries such as Brazil, Argentina, Colombia, and Venezuela follow Mexico in the rankings.
Mexico As a Leading Market
With the increasing consumption of video games and gaming content in Mexico, the government is already proposing regulations. This is so certain government bodies have a more transparent perspective of the reality behind stats and numbers.
The Mexican government is considering specific statistical analyses to justify these legal proposals. For example, just in the first three months of 2017, almost 60 million gamers were identified in Mexico. By 2019, that number increased to almost 70 million gamers.
By 2019, the Latin American rankings showed the following results:
- Mexico – Revenue of $1,427,974,000 & overall 12th in the world rankings
- Brazil – Revenue of $1,334,205,000 & overall 13th in the world rankings
- Argentina – Revenue of $423,405,000 & overall 25th in the world rankings
- Colombia – Revenue of $290,518,000 & overall 34th in the world rankings
- Venezuela – Revenue of $204,311,000 & overall 41st in the world rankings
- Chile – Revenue of $180,887,000 & overall 44th in the world rankings
- Peru – Revenue of $138,305,000 & overall 49th in the world rankings
- Ecuador – Revenue of $71,362,000 & overall 67th in the world rankings
- Dominican Republic – Revenue of $48,438,000 & overall 73rd in the world rankings
- Uruguay – Revenue of $31,503,000 & overall 83rd in the world rankings
Latin America stands as one of the fastest-growing gaming markets in the world. With millions of players and multimillion-dollar revenues generated, it is becoming a key target for the global gaming industry.
To experts, Latin America is quickly becoming more globalized regarding its technological gaming reach. Some mainstream gaming developers have noticed the ongoing growth and see some leading countries as the future headquarters for development and innovation.
Argentina and Brazil, for instance, are some of the nations in which gaming development and professional gaming are becoming more recognized by certain educational institutions. Although this would have been almost impossible to visualize about ten years ago, now it’s a reality.
Experts also claim that with globalization, specific trends that used to dominate in some countries have begun to either adjust or fade. More conservative governments are now expanding their cultural reach and adopting leading global tendencies that continue to change specific international markets.
A more receptive market for leading technology is another factor that experts believe has supported the exponential growth of gaming and the industry in Latin America. Although current numbers completely top those recorded in 2019, there is no doubt that the region has and will continue to become fonder of gaming as a leading tech trend.