In recent years the gaming industry has grown exponentially across the world. New technological advancements, a competitive and fast-paced market, and dedicated and loyal gaming enthusiasts are some of the reasons behind such success. In this context, Canada emerges as a developing market both in terms of gaming consumption and production.
In this article, we will look at the gambling and video game industries in Canada and compare them to other relevant international competitors.
Video game and gambling industry
With more than 23 million gamers in Canada, there is a fair amount of time and money spent on activities such as gambling and video gaming.
A survey by ESAC found that the Canadian gaming industry contributed US$2.6 billion to GDP in 2019. While Canada is yet to rival other international gaming markets there are positive indicators for the future of this industry, such as an increasing amount of qualified professionals and further investment in the country’s technological potential. Currently, Vancouver, Montreal, Toronto, and Alberta emerge as the main cities in the Canadian gaming landscape, hosting companies such as Behaviour Interactive, BioWare, Capybara Games, and big studios like EA Vancouver or Rockstar Toronto.
Additionally, the gambling market has become particularly significant in Canada. With over 100 online casinos available in the country, main game providers such as Playtech, NetEnt, Evolution, and Microgaming are at the forefront of gambling technology and contribute to the fast development of the industry.
Canada now places among the top ten countries with the most gamblers. As a result, the industry has generated approximately US$3.6 billion in revenue in 2019 — an increase of 15% over the two previous years. The development of gaming technology has also contributed to the success of online casinos. More gaming companies are focusing on mobile and tablets as the main platforms for their products while expanding their range of services. For instance, Genesis Casino online offers multiple games, free spins, and bonuses, making online gambling more accessible and convenient than before. Sites like those show the progress of technology, as all of these services are available by smartphone, a platform that most players will use at some point.
The gaming industry around the world
The gaming industry has turned into a multi-billion market with massive revenues and a significant impact on countries’ GDPs. A report from 2019 indicates that China generates the highest revenues, with US$ 44.2 billion. This comes with no surprise as Tencent, a Chinese conglomerate, is considered by many to be the largest gaming company in the world with reported revenue of US$5.22 billion in 2019. In addition to its endless list of games, it is also the owner of social networks (e.g. WeChat) and TenPay mobile payment.
The United States comes behind with US$ 42.1 billion. This is also no surprise, as American companies such as Apple, who made almost $3 billion from gaming in 2019, Microsoft and Google are top players in the tech world and are heavily present in the mobile gaming industry.
In third place, we find Japan with US$20.6 billion in revenues. The East Asian country is a worldwide famous technological hub, the birthplace of many popular videogame characters, but also multinationals such as Sony Corporation, responsible among other products and services, for the Playstation console, launched in November 1994. The conglomerate generated total revenue of US $3.87 billion in 2019. But also, let’s not forget, the game and console developer and publisher, Nintendo. The Japanese powerhouse has developed games such as Mario Kart, Pokémon, and The Legend of Zelda and is at the forefront of gaming technology.
In the future, the success of these companies and countries lays entirely on the ability to fuel technological advances, becoming more attractive to investors and by new approaches to gaming, such as the incorporation of VR Technology, the use of cryptocurrencies as a payment method, or facial recognition to create users’ avatars.