Market Overview

The Latin America video game development market was valued at USD 107.36 Million in 2024 and is projected to reach USD 425.14 Million by 2033, growing at a CAGR of 15.25% during 2025-2033. Market growth is fueled by expanding smartphone and internet penetration, robust investment from international companies, burgeoning e-sports and mobile gaming sectors, supportive government policies, and an enriched talent pool. The region benefits from local studios gaining recognition for culturally diverse gaming content, which is driving both regional and global demand.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Latin America Video Game Development Market Key Takeaways

• The market size was USD 107.36 Million in 2024.
• The CAGR for the market during the forecast period 2025-2033 is 15.25%.
• The forecast period spans from 2025 to 2033.
• Brazil leads the region with 13,225 developers and 1,042 active studios.
• Mexico and Argentina have over 4,000 and 4,500 developers, respectively.
• In 2024, smartphone shipments reached 137 million units, increasing by 15%.
• Mobile internet penetration in South America is at 112%, with Central America and Mexico at 103%, and the Caribbean at 84%.

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Market Growth Factors

Smartphones and the internet's increased use in the region mainly drives Latin America's video game development market's growth. Between 2023 and 2024, smartphone sales in the region grew by 15%, to total 137 million units, while mobile internet penetrated to 112% in South America, 103% in Central America and Mexico and 84% in the Caribbean. This resulted in a large potential audience within mobile games, and so motivates developers to create games specifically for the mobile device.

International investment has also been important, with major funding and studio expansions. Brazil, Argentina and Mexico have become major development hubs through partnerships with foreign companies. Brazil has the most developers with over 13,225, and 1,042 studios. Mexico and Argentina have over 4000 and 4500 developers, respectively. Government sponsored grants and tax incentives have helped expedite growth in operations, hiring and innovation.

The growing presence of the e-sports and mobile game market also contributes to the industry's growth. The improvement in digital infrastructure has allowed for mobile-first game development and the growing competitive multiplayer mobile games has been helped by a growing viewership and number of players in e-sports. Initiatives, including Google's USD 2 Million Indie Games Fund in August 2024, aim to support local independent developers with funding and mentorship.

Market Segmentation

IMARC Group segments the Latin America video game development market as follows:

• Platforms:
• Console
• Mobile
• PC
• Cloud Gaming

Sites include consoles, mobile devices, personal computers, and cloud platforms for gaming development and usage.

• Genres:
• Action
• Adventure
• Shooter
• Role-Playing
• Simulation
• Strategy
• Sports
• Casual
• Others

The market covers various game genres catering to diverse player preferences and development focuses.

• Deployment:
• On-Premises
• Cloud-Based

Deployment includes traditional on-premises setups and modern cloud-based infrastructures.

• Revenue Models:
• Pay-to-Play
• Free-to-Play
• Subscriptions
• In-App Purchases

Different revenue generating models including upfront payments, free access with optional purchases, recurring subscriptions, and microtransactions.

• Game Types:
• Single-Player
• Multi-Player
• Massively Multiplayer Online (MMO)

The market includes various player engagement types, from solo to massive online multiplayer experiences.

• End Users:
• Individual
• Institutional

Segmented by consumer type: individual gamers and institutional users.

• Countries:
• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

The report provides deep analysis across these major Latin American countries.

Regional Insights

Brazil dominates the Latin America video game development market with the highest number of developers (13,225) and active studios (1,042). The growth in other countries like Mexico and Argentina, each with thousands of developers, contributes significantly to regional market expansion. This concentration underlines Brazil's role as the key driver of growth and innovation within the Latin American gaming ecosystem.

Recent Developments & News

• In March 2025, Xsolla launched the Journey of Indies (JOIN) Program in Brasília, supporting indie and mid-tier developers with commercialization, education, mentorship, and funding.
• February 2025 saw the partnership between gamescom latam 2025 and The Pokémon Company, featuring exclusive Pokémon GO AR missions and themed activities in São Paulo.
• In August 2024, Amber acquired Colombia-based Madbricks to boost collaborative game co-development across Latin America.
• June 2024 marked OV Entertainment Group's acquisitions of Brazil-based Kokku and Argentina's 3OGS, aiming to unify Latin American gaming companies and enhance resources.

Key Players

• Xsolla
• The Pokémon Company
• Amber
• OV Entertainment Group
• Kokku
• 3OGS
• Madbricks

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.