Latin America has 26 countries, the total population is the same as that of Europe, and the land area is twice that of Europe. The gross economic product of Latin America countries has reached 4.8 trillion US dollars, but so far, the Latin America mobile game market has not received enough attention from overseas development teams and investors. The reason for this is that Latin America countries have a serious polarization between the rich and the poor, credit card penetration and other factors. But in fact, in the next few years, the Latin America mobile game market will probably usher in an outbreak.
Market Overview in Latin America
Brazil has a total population of 216 million, ranking 7th in the world. At present, Brazil has 160 million Internet users, and the Internet penetration rate is 75%. Mexico has a total population of 128 million. In 2021, its GDP will be 1.09 trillion US dollars, a year-on-year increase of 4.8%, and its per capita GDP will be 8800 US dollars. It has great potential in commercial development. By 2021, the GDP of Latin America as a whole will reach 5 trillion US dollars, which means that it is almost the same as Japan (4.9 trillion US dollars) and exceeds the 3.4 trillion US dollars in Southeast Asia. Although there are large differences among Latin American countries, the per capita GDP of many countries exceeds 5000 US dollars, and that of Chile and other countries exceeds 10000 US dollars.
The number of smart phone users in Latin America exceeds 351.9 million, which is expected to exceed 400 million in 2023. Due to the strict import regulations of Latin American countries, the host computer and game PC are sold at a high price locally, and smart phones have become the first or even the only game device for many Latin American players.
In recent years, in the case of lagging development of traditional banks, there have been new banks led by Nubank in Brazil, which provide users with convenient services through the Internet. As contactless payment technologies in Latin America continue to be adopted more and more, emerging banks, digital wallets, contactless credit cards and other financial technology applications have also proliferated. During this period, Latin America’s FinTech market achieved a 41% growth and is expected to gain rapid growth momentum in the next few years.
Mobile Gaming Sector in Latin America
As can be seen from the list of best-selling games in Latin America, games such as “Free Fire”, “Call of Duty Mobile”, “Mobile Legends: Bang Bang”, and “Genshin Impact” are all loved by everyone. Mobile Legends: Bang Bang, Genshin Impact, and Garena Free Fire were also relatively popular in most countries. Mobile Legends Bang Bang is available in Redfinger APP Store, which provides users to enjoy using Mobile Legends: Bang Bang with redfinger cloud phone.
However, it can also be seen from the game download form that Chinese products have a very low market share in Latin America, and the top rankings are almost all European and American products, including HBO and Disney. As a virtual Android system, redfinger allows users to have another Android phone on one device. Cloud emulator android redfinger requires little data, storage and battery power. Users can run games 24/7 on the cloud.
The MMORPG series developed by Chinese publishers are popular among Latin American players. Additionally, users are accustomed to playing causal, sandbox, social with earning online, gambling with earning online categories mobile games such as Call of Duty Mobile and Candy Crush. But surprisingly, EA’s soccer games rank relatively low.
Today, there are roughly 5 categories of advertisers currently active in Latin America. International gambling here refers to gambling websites or applications with international influence, betway is an example. In addition to the advertisers mentioned above, there is also a list of advertisers in the gaming industry in Latin America.
Slots and Domino categories games have gained all sorts of popularity in this area. The policies formulated by the platform are generally not strict. At the same time, users may like to play games with social attributes, such as Garena Free Fire and MOBA. And financial games have huge potential in the market.
Great Potentials in Latin America and Brazil
Brazil is currently the largest game market in Latin America and ranks 12th in terms of global game revenue. From the perspective of player base and revenue, Brazil is the largest mobile game market in Latin America. The report pointed out that Brazil has approximately 88.4 million mobile game players, and the mobile game market is expected to exceed US$1 billion in revenue in 2021. Mexico (nearly US$900 million), Argentina and Colombia rank second to fourth in Latin America in terms of mobile game market revenue, respectively. The report predicts that by 2024, the annual revenue of the Latin American mobile game market will grow to US$5.1 billion.
Game publishers are currently keen on the Brazilian market. Because Brazil has a population of more than 200 million, and the Internet penetration rate is increasing rapidly every year, it has a great market dividend. With the development of Kwai and Byte Dance in Brazil, it can drive the development and progress of payment channels, and it will be more convenient to implement game payment methods in the future, instead of using encrypted currency bitcoin like P2E games.
As a whole, the mobile gaming market in Latin America still favors products with social or interactive features, such as MOBAs. On the other hand, SLG games are favored by Mexican users. Although the current market share of Chinese game makers in Latin America is low, there are various development opportunities.