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U.S. Video Game Market to Grow by USD 29.9 Billion from 2024-2028, Driven by Smartphone Penetration and AI-Redefined Market Landscape – Technavio

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NEW YORK, Nov. 5, 2024 /PRNewswire/ — Report with market evolution powered by AI – The video game market in US size is estimated to grow by USD 29.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 12.7% during the forecast period. Rising penetration of smartphones and improving internet access is driving market growth, with a trend towards increasing popularity of gaming among women. However, increasing cost of game development poses a challenge.Key market players include Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., CyberAgent Inc., Electronic Arts Inc., Embracer Group AB, Epic Games Inc., Microsoft Corp., NetEase Inc., NEXON Co. Ltd., Nintendo Co. Ltd., Roblox Corp., Sega Sammy Holdings Inc., Sony Group Corp., Square Enix Holdings Co. Ltd., Take Two Interactive Software Inc., The Walt Disney Co., Ubisoft Entertainment SA, Valve Corp., and Warner Bros Discovery Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Platform (Mobile devices, Consoles, and Computing devices), Type (Offline and Online), and Geography (North America)

Region Covered

US

Key companies profiled

Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., CyberAgent Inc., Electronic Arts Inc., Embracer Group AB, Epic Games Inc., Microsoft Corp., NetEase Inc., NEXON Co. Ltd., Nintendo Co. Ltd., Roblox Corp., Sega Sammy Holdings Inc., Sony Group Corp., Square Enix Holdings Co. Ltd., Take Two Interactive Software Inc., The Walt Disney Co., Ubisoft Entertainment SA, Valve Corp., and Warner Bros Discovery Inc.

Key Market Trends Fueling Growth

The video game market in the US has experienced a significant shift in its demographic composition. Historically, male gamers have dominated the industry. However, the rise of mobile gaming and the increasing popularity of games that cater to diverse preferences have attracted a large number of female gamers. As of March 2023, nearly half of all video gamers in the US are women, and this number is projected to grow. This demographic change has expanded the market potential for game developers, leading them to create games with broader appeal and more inclusive content. New genres and themes, such as storytelling, social interaction, simulation, and puzzle-solving, have emerged to cater to female gamers’ preferences. The demand for better representation of women in games has also driven the creation of more inclusive narratives and characters. This trend is expected to continue, promoting gender equality within the gaming industry and driving the growth of the video game market in the US. The influx of female gamers is anticipated to boost sales of gaming merchandise, software, and hardware. 

The US video game market is experiencing significant growth, with trends such as Facebook’s advertising strategies and 5G technology shaping the industry. Latency is a key performance factor, especially for online game environments, virtual worlds, augmented reality games, and digital reality games. The youth generation, particularly males and females in different income brackets, are major consumers of digital video games, including online, download, and mobile games. According to reports and survey results, high and medium income consumers are increasing their gaming-related expenditures. B2C enterprises are investing in e-sports and digital environments, with monetary figures reaching billions. The economic panorama is favorable for the industry, with Google Stadia and casual gamers expanding the market. Digital goods are driving revenue, and the future looks bright for this dynamic sector. 

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Market Challenges

The video game market in the US has experienced significant growth due to increasing consumer demand for enhanced in-game content. This demand has led to higher development costs for game creators. Automated technologies, such as Speed Tree, are utilized to create authentic-looking trees and other intricate graphics. However, the majority of game expenses go towards hiring expert artists for character and object design, voice actors from the film industry, and marketing efforts. The competition in the market necessitates these investments to differentiate products. With a growing number of gamers in the US, revenue and volume have increased, leading to extensive advertising expenses. Game publishers prioritize consumer needs and preferences, which also adds to the development costs. This cost structure may hinder market growth during the forecast period.The video game market in the US has seen significant growth over the past decade, with narratives, mixed reality, and intricate puzzles captivating players of all ages. Companies like Inflexion Games are leading the charge in the entertainment industries, delivering commercial success through captivating worlds and engaging gameplay. Youngsters and households alike are turning to digital platforms for console gaming, mobile gaming, and gaming apps. The gaming industry’s market outlook is bright, with social interplay and cultural reputation driving player engagement. The next decade brings new challenges, including the metaverse, virtual space, and virtual avatars. Cloud gaming, portable devices, and hardware enhancements are shaping the industry’s cutting-edge trends. With 5G speed and unlimited plans, mobile video games are becoming more accessible than ever. Subscription-based trends and physical video games coexist, with hardware upgrades and content delivery methods continually evolving. AR glasses and AR technology are set to revolutionize gaming, while social media platforms like Instagram offer new opportunities for game developers.

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Segment Overview 

This video game market in US report extensively covers market segmentation by

Platform 1.1 Mobile devices1.2 Consoles1.3 Computing devicesType 2.1 Offline2.2 OnlineGeography 3.1 North America

1.1 Mobile devices- The mobile devices segment dominated the US video game market in 2022, with over 307 million smartphone users providing a vast potential audience. Mobile gaming’s popularity continues to grow due to its accessibility and convenience. Mobile games are typically smaller in scale and complexity than console or PC games, making them suitable for a broader audience, including casual gamers. With the increasing capabilities of mobile devices, visually impressive games are now possible. The availability of diverse titles catering to various age groups and interests further enhances mobile gaming’s appeal. Additionally, the introduction of offline mobile games, particularly in rural areas with limited internet access, will significantly expand the market. Mobile gaming’s ease of distribution through app stores and the unique capabilities of mobile devices, such as touch screens and gyroscopes, contribute to its continued growth within the US video game market.

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Research Analysis

The Video Game Market in the US is experiencing significant growth, driven by the increasing popularity of subscription-based services and technologically advanced smartphones. With the penetration of smartphones, mobile games have become a major segment of the market, attracting casual gamers and consumers alike. Online gaming, including online games, download games, and gaming networks, is also seeing growth, offering social interplay and entertainment for video gamers. The market outlook is positive, fueled by the demographic shift towards younger generations who grew up with digital video games and have a strong cultural reputation for gaming. The market caters to B2C enterprises, offering a wide range of 3D games, from simple casual games to complex, technologically advanced titles. The accessibility of online gaming and the social interaction it provides make it an attractive alternative to traditional forms of entertainment.

Market Research Overview

The US video game market is experiencing significant growth, driven by the increasing popularity of digital video games, online games, and mobile games among consumers. The market caters to both casual gamers and B2C enterprises, with monetary figures reaching billions annually. Consumer spending on digital goods, reports suggest, is on the rise, influenced by performance factors such as user penetration, price per product, and annual purchase frequencies. The market’s growth is influenced by macroeconomic indicators, historical developments, and current trends. Technological advancements, including 4G coverage, the penetration of smartphones, and the emergence of technologically advanced smartphones, have expanded accessibility and social interaction in gaming. Changing perceptions and cultural acceptance have led to mainstream popularity, with narratives, intricate puzzles, and captivating worlds drawing in game enthusiasts. The market outlook is promising, with forecasting techniques such as the S-curve function and exponential trend smoothing indicating continued growth. Cloud gaming experiences, such as Google Stadia, are revolutionizing the industry, while competitive gaming and esports tournaments, including Counter-Strike, League of Legends, and Dota, attract millions of players. Real-time strategy games, first-person shooter games, and games in the casual gaming sector, such as Inflexion Games, cater to various demographics, from youngsters to parents, households, and online game players. The entertainment industries’ commercial success and the emergence of technologies like augmented reality, virtual reality, and mixed reality, are expected to further fuel the market’s growth. The market’s future looks bright, with the gaming industry continuing to evolve and adapt to the changing needs and preferences of consumers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

PlatformMobile DevicesConsolesComputing DevicesTypeOfflineOnlineGeographyNorth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Cineverse Appoints Rey Puentenegra as Vice President, Corporate Controller

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LOS ANGELES, Nov. 5, 2024 /PRNewswire/ — Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, today announced that it has hired Rey Puentenegra as Vice President, Corporate Controller. Leveraging over 20 years of combined experience across the Industry, Audit and Regulatory Sectors, Puentenegra will oversee all financial and accounting functions across Cineverse’s entire business. He will manage day-to-day operations of the accounting department while taking ownership of corporate accounting, regulatory and financial reporting, audit preparation, and the continual development of internal control policies and procedures. Puentenegra’s appointment is effective immediately, and he will report directly to Mark Lindsey, Chief Financial Officer of Cineverse.

For more than two decades, Puentenegra has been responsible for financial and accounting management, SEC reporting and technical accounting, IPO and SPAC consulting, and process systems implementation and optimization across public and private companies, Big 4 accounting firms, and the Public Company Accounting Oversight Board (PCAOB). Prior to joining Cineverse, Puentenegra served as Controller at YOUNGLA, a fitness and lifestyle apparel e-commerce company, where he oversaw the finance and accounting team as well as managed an outside accounting firm and the company’s primary banking relationship. He was responsible for developing and implementing the initial finance operations structure in addition to the company’s Enterprise Resource Planning. Throughout his career, Puentenegra has served in finance and accounting roles for KPMG, PricewaterhouseCoopers (PwC), Reading International, Global Eagle Entertainment, Corporate Finance Group, XOS, and Spatial Genomics. As Inspections Specialist at PCAOB, he inspected the audits of the Big 4 and mid-tier firms in both the U.S. and foreign jurisdictions.

In connection with his joining the Company, Puentenegra received stock appreciation rights (the “SARs”) for 85,000 shares of Cineverse’s Class A Common Stock (the “Common Stock”), having a ten-year term and an exercise price equal to $2.74, and vesting 1/3 on November 4 of each of 2025, 2026 and 2027. The grant of SARs is an inducement grant pursuant to NASDAQ listing Rule 5635(c)(4).

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse  (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation, Terrifier 3, iconic horror destination, Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant lineup of titles and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

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Cboe Global Markets Reports Trading Volume for October 2024

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CHICAGO, Nov. 5, 2024 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today reported October monthly trading volume statistics across its global business lines.

The data sheet “Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report” contains an overview of certain October trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.

Average Daily Trading Volume (ADV) by Month

Year-To-Date

Oct

2024

Oct

2023

%

Chg

Sep
 2024

%

Chg

Oct

2024

Oct

2023

Chg

Multiply-listed options (contracts, k)

10,793

11,230

-3.9 %

10,459

3.2 %

10,610

10,885

-2.5 %

Index options (contracts, k)

3,976

4,534

-12.3 %

4,130

-3.7 %

4,097

3,765

8.8 %

Futures (contracts, k)

187

292

-36.0 %

232

-19.6 %

243

227

6.7 %

U.S. Equities – On-Exchange (matched shares, mn)

1,289

1,376

-6.4 %

1,234

4.4 %

1,360

1,396

-2.6 %

U.S. Equities – Off-Exchange (matched shares, mn)1

77

81

-5.6 %

85

-9.1 %

78

81

-2.8 %

Canadian Equities (matched shares, k)

158,622

137,305

15.5 %

148,628

6.7 %

145,790

134,538

8.4 %

European Equities (€, mn)

10,534

9,277

13.6 %

10,121

4.1 %

9,681

9,498

1.9 %

Cboe Clear Europe Cleared Trades2 (k)

117,528

100,398

17.1 %

102,208

15.0 %

1,017,755

990,488

2.8 %

Cboe Clear Europe Net Settlements2 (k)

1,042

873

19.4 %

943

10.5 %

9,278

8,406

10.4 %

Australian Equities (AUD, mn)

777

719

8.0 %

891

-12.8 %

788

699

12.7 %

Japanese Equities (JPY, bn)

288

196

47.0 %

312

-7.5 %

315

174

80.5 %

Global FX ($, mn)

44,373

47,933

-7.4 %

48,096

-7.7 %

46,805

44,363

5.5 %

1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously excluded from reporting.
2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. Asa of April 2023, data has been restated to reflect both On-Book and Off-Book cleared trades.

October 2024 Trading Volume Highlights

Cboe Europe

Cboe Europe Periodic Auctions reported a record average daily notional value (ADNV) of €2.5 billion, beating the previous record of €2.4 billion in September 2024.Cboe Clear Europe processed 117.5 million client trades in October, its highest monthly volumes in 2024. Additionally, it cleared its first trades on Deutsche Börse, introducing competitive clearing to the German market.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

 

Cboe Media Contacts

   Cboe Analyst Contact

Angela Tu 

Tim Cave

Kenneth Hill, CFA 

+1-646-856-8734 

+44 (0) 7593-506-719

+1-312-786-7559 

atu@cboe.com

tcave@cboe.com

khill@cboe.com

 

CBOE-V

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor’s®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor’s or Cboe and neither Standard & Poor’s nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 

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SOURCE Cboe Global Markets, Inc.

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Patrick Industries to Participate in Upcoming Baird Conference

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ELKHART, Ind., Nov. 5, 2024 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in Baird’s 2024 Global Industrial Conference on November 12, 2024.

Andy Nemeth, Chief Executive Officer, and Kip Ellis, President – Powersports, Technology and Housing, will participate in a fireside chat as well as engage in one-on-one meetings with institutional investors and analysts. The conference will be held at the Ritz-Carlton in Chicago.

Please contact Baird for attendance information and additional details. 

About Patrick Industries, Inc. 
Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com

Forward-Looking Statements  
This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made. 

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SOURCE Patrick Industries, Inc.

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