According to study, “Latin America Digital Gaming Market (2018-2023)” some of the major companies that are currently working in the Latin America digital gaming market are Activision Blizzard, Zynga, Electronic ArtsGames Pvt. Ltd., Hoplon Infotainment, Sony Corp., Playtronic, Microsoft Corporation, Tectoy Inc., Nucleosys Inc., NGD Studios, Take Two Interactive.
Digital Games are the most profitable sectors of the media and entertainment industry. It includes gamesthat are played on mobiles, PCs, and Consoles. It provides a virtual atmosphere limitless with physical space or concrete access to learning resources. It also assists students by providing practical examples of perceptions and rules that are difficult to point up in the real world. It is used for teaching facts that recall(knowledge, rotelearning or memorization
), complex problem solving, principles (effect relationship & cause) and to boostthe creativity. Some of the booming applications of digital gaming industry are military & firefighter training, mobile development &augmented reality and fitness-mental & physicalhealth applications.
On the basis of genres, the digital gaming market is segmented into role- play action genres, shooter, strategy, puzzles, adventure games, racing games, role playing games (RPG), sports, plat formers and other genres. A shooters genre is sub-segmented into scrolling or static.In scrolling shooters, only part of the combat zone is displayed & screen scrolls vertically or horizontally.
Some of the key benefits are use as didactic means, improvement of physical and mental abilities, develop empathy, encourage teamwork, increase the sense of skill and confidence, foster positive values and use as leisure & entertainment etc. However the major drawbacks are increase in the aggressiveness, affect the life in negative way and create addictionand many others.
Recently, in Latin America, the marketing and distribution of digital games isremarkably well.In addition, the companies such as Microsoft and Sonyfurther have new plans for their console markets in the region that are open to self-governing developers & small studios, which are responsible for building upconsole gaming in the region.
The Latin America digital gaming is driven by growing use of smart-phone, followed by favorable environment for the technology development, increase in the aging population, improvement in technology, increasing disposable income, rise in the affordability of the people and government regulation & policies. In addition, low budget games havealso made in region owing to the economic restrictions. The region also has the improvement area of internet connectivity in countries such as Paraguay and Costa Rica adding challenge in the development of digitally downloadable& online games.
Latin America is an emerging market for digital gaming. Digital gaming is further recognized as an important part of the industry endorsement agencies& their business procedures. Video game segment holds the largest market share in region.It is expected that the Latin America digital gaming market to grow at a US$ 6.2 billion, at a CAGR of 11.4 %, by 2023. In near future, the market is expected to boost owing to the rise in gross domestic products (GDP) in the region.
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Ankur Gupta, Head Marketing & Communications