Market Insights Advertising & Media Media

Games - Canada

Canada

Revenue in the Games market is projected to reach US$7.00bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.48%, resulting in a projected market volume of US$10.04bn by 2029.
In global comparison, most revenue will be generated in China (US$128.90bn in 2024).
In the Games market, the number of users is expected to amount to 18.8m users by 2029.
User penetration will be 42.3% in 2024 and is expected to hit 46.2% by 2029.
The average revenue per user (ARPU) is expected to amount to US$1,218.00.

Key regions: Europe, China, India, Japan, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Games market in Canada has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Games market in Canada have shifted towards mobile gaming, with a growing number of Canadians preferring to play games on their smartphones and tablets.

This trend is in line with the global market, where mobile gaming has become increasingly popular due to its convenience and accessibility. Additionally, there is a strong demand for multiplayer and online gaming, as Canadians enjoy connecting with friends and other players through virtual platforms. Trends in the market indicate that the Games industry in Canada is becoming more diverse and inclusive.

There has been a rise in the development and popularity of indie games, which offer unique and innovative gaming experiences. This trend reflects a global shift towards supporting independent game developers and promoting creativity within the industry. Furthermore, there is a growing interest in virtual reality (VR) and augmented reality (AR) gaming, as Canadians seek immersive and interactive gaming experiences.

Local special circumstances in Canada have contributed to the development of the Games market. The country has a strong gaming culture, with a large number of Canadians actively participating in gaming communities and events. This vibrant gaming community has fostered the growth of local game developers, who have gained recognition both domestically and internationally.

Additionally, the Canadian government has been supportive of the Games industry, providing funding and incentives to promote the growth of the sector. These factors have created a favorable environment for the Games market in Canada to thrive. Underlying macroeconomic factors have also played a role in the development of the Games market in Canada.

The country has a strong economy and a high standard of living, allowing Canadians to spend more on leisure activities such as gaming. Furthermore, the increasing availability of high-speed internet and advanced technology infrastructure has facilitated the growth of online gaming in Canada. These factors have contributed to the overall expansion of the Games market in the country.

In conclusion, the Games market in Canada is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards mobile gaming, the rise of indie games, the interest in VR and AR gaming, the strong gaming culture, government support, and favorable economic conditions have all contributed to the positive trajectory of the Games market in Canada.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.