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    The Evolving Landscape of the US Gaming Industry in 2023: Devices, Content and Emerging Trends

    Lakisha DavisBy Lakisha DavisNovember 8, 2023
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    The Evolving Landscape of the US Gaming Industry in 2023 Devices, Content and Emerging Trends
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    In 2023, the US gaming industry stands at a crossroads, being shaped by evolving technology, shifting consumer behavior and the aftermath of the pandemic. With two-thirds of people under 18 engaging in online gaming, it has become a dominant entertainment activity, rivaled only by watching YouTube videos. As we look at the trends and forecasts for the gaming industry, it becomes clear that 2023 holds the promise of exciting advancements and challenges.

    The Impact of the Pandemic and the Continued Growth of Gaming

    The COVID-19 pandemic propelled video gaming to the forefront of entertainment choices, with the average time spent gaming increasing by 16.5% from 2019 to 2020. This growth persisted into 2021, reaching 16.5 hours per week. However, insider intelligence predicted a tapering off of this growth in the following years, signaling a potential stabilization in the industry.

    US Gaming Devices and Demographic Trends

    In 2022, over half of the US population identified as digital gamers, with mobile gaming emerging as the dominant segment, capturing 48.3% of the population. Interestingly, the demographic makeup differs across platforms. While the stereotypical gamer is often portrayed as a young male, mobile-only gaming boasts a majority of female players (75%). In contrast, men constitute about two-thirds of players in console and desktop/laptop gaming.

    There’s a noticeable inclination toward the younger demographic in the gaming audience. Specifically, 74.2% of individuals between the ages of 18 and 24 play video games, constituting 36% of the overall player base. Deloitte’s 2022 media trends report highlights gaming as the favorite entertainment activity among Gen Z, with one-quarter of their leisure time dedicated to this activity.

    Video Game Industry Ad Revenue

    While consumer spending on gaming experienced significant growth in recent years, there has been a cooling off in 2023. Spending on mobile gaming ad in the US is projected to grow by 10.0% to $6.28 billion in 2023, with eSports ad revenues following a similar trajectory, surpassing a quarter of a billion dollars. Despite the dip in consumer spending in 2023, the gaming industry is witnessing a compensatory surge in ad revenues, indicating its resilience.

    Emerging Technologies and Sales Boost

    Advancements in Artificial Intelligence (AI), Virtual Reality (VR) and 5G infrastructure are poised to reshape the gaming experience. AI is enhancing artistic qualities, animation, dialogue and character depth, which are particularly appealing to the tech-savvy Gen Z. The good performance of the Black Friday and Cyber Monday sales in 2022, coupled with falling inflation, indicates a potential surge in consumer spending on innovative game titles and AI-driven enhancements in 2023.

    E-Sports: A Changing Landscape

    E-Sports, a subset of video gaming video content, experienced a surge in viewership during the pandemic. However, major organizations like 100 Thieves and Team SoloMid are undergoing layoffs, and viewership for popular games like League of Legends is at a five-year low. The creator economy represented by streamers on platforms like Twitch is also showing signs of slowdown.

    Despite these challenges, eSports viewership is projected to continue growing in 2023, contributing to a 10% increase in advertising revenues reach $264.3 million. Yet, this niche space may become less of a priority for advertisers.

    Industry Forecast and Mergers

    The gaming industry landscape is shifting with major players making strategic moves. Microsoft’s proposed acquisition of Activision Blizzard for $68.7 billion could create a video game monopoly, and it is attracting scrutiny from the Federal Trade Commission. Concurrently, media giants like Netflix are entering the gaming space, expanding their offerings to subscribers.

    Conclusion

    The US gaming industry in 2023 as per agamble.com reflects a dynamic environment influenced by technological innovations, changing consumer demographics and strategic industry moves. As the industry navigates through potential challenges, the convergence of AI, VR and 5G, coupled with emerging trends in ad revenues positions the gaming sector for continued growth and transformation in the coming years.

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    Lakisha Davis

      Lakisha Davis is a tech enthusiast with a passion for innovation and digital transformation. With her extensive knowledge in software development and a keen interest in emerging tech trends, Lakisha strives to make technology accessible and understandable to everyone.

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