Global Video Game Software Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Video Game Software Market Report by The Business Research Company covers video game software market drivers and restraints, video game software market size, major players, and the impact of COVID-19 on the video game software market.
The video game software market consists of sales of video game software and related services by entities (organizations, sole traders and partnerships) that produce video game software, including businesses that are involved in design, documentation, installation and support services, production, and distribution of video games. Companies in this industry undertake operations such as the design, development, publication, distribution, and monetization of video game software on various platforms including PC, browser, smart phone, tablet, and console.
The global video game software market is expected to decline from $167,220.2 million in 2019 to $166,439.7 million in 2020 at a compound annual growth rate (CAGR) of -0.5%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 11.0% from 2021 ad reach $223,277.1 million in 2023. The market is expected to reach $274,458.3 million in 2025, and $452,628.1 million in 2030.
Cross-platform publishing and play games are expected to drive the market for video games in the forecast period. Companies in the PC games industry are launching cross-platform publishing and play games to make gaming more flexible for users. Cross-platform publishing gives players the ability to play the same video games on different platforms through progress retention. Similarly, cross-platform play is a characteristic of a video game that enables gamers to use different gaming platforms such as console, mobile and PC to play with each other simultaneously. In many cases, these cross-platform games are restricted within the respective publisher’s platforms. The increase in cross-platform gaming can be attributed to the development of scripting languages, software libraries and game engines allowing PC games companies to efficiently use platform-specific details of the users. Flexibility offered by the cross-platform publishing and play games will drive the market for video game software in the forecast period.
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Some video game software market trends include increasingly providing streaming video game services to take advantage of emerging 5G and cloud computing technologies. Moreover, video game software developers are increasingly adopting VR and AR technologies to enhance players’ gaming experiences.
Global video game software market segments include:
- By Type: PC Games, Browser Games, Smartphone/Tablet, Console Games
- By Type Of Transaction: Physical, Online/ Microtransaction, Digital
- By Type of Genre: Action, Shooter, Adventure, Role-playing, Strategy, Fighting, Sports, Racing, Others
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Video Game Software Opportunities And Strategies: Forecast To 2030 is one of a series of new reports from The Business Research Company that provides video game software market overviews, analyzes and forecasts market size, share, video game software market players, video game software market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The video game software identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Video Game Software Opportunities And Strategies: Forecast To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Tencent Holdings Ltd., Nintendo Co., Ltd., Sony Corporation, NetEase, Inc., Microsoft Corporation
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Video Game Software Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Video Game Software Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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