GAMEducation

Video Game Industry Latin America 2024

This document examines the video game market in Latin America, positioning the region as a large consumer base with substantial growth potential but limited domestic production capacity.

• The Latin American video game market generated $5.4 billion in revenue in 2019, representing less than 4% of the global market, despite Mexico and Brazil ranking 12th and 13th globally for gaming revenues.
• Latin America possesses significant growth potential for its video game industry due to a large, young population (653.9 million inhabitants in 2020, with 32.7% aged 10-29) and a high number of gamers (252.6 million in 2019, exceeding North America).
• The region was the fastest-growing digital games market globally in 2019, with an expected growth of +11.1%, driven by a rapidly increasing number of smartphone owners (projected to reach 690 million by 2024) and strong demand for mobile games (+50% users from 2017-2020).