The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The video game software market size has grown rapidly in recent years. It will grow from  $248.29 billion in 2023 to $277.54 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%.  The growth in the historic period can be attributed to in-game purchases and freemiums, live streamers and gaming influencers, rise in smart phone users and rise in disposable income. The video game software market size is expected to see rapid growth in the next few years. It will grow to  $446.78 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%.  The growth in the forecast period can be attributed to increasing use of internet, shifting preference towards digital games, cross-platform publishing and play, technologically advanced platforms, and increasing gamers involvement. Major trends in the forecast period include integrating ar and vr technologies, focusing on in-game advertising, providing free access to games with certain main features in paid versions, offering game software services on the cloud with pay-per-usage payment models, offering streaming video game services, and invest in developing new as well as updating existing software, which is compatible with latest gaming consoles.

The video game software market experiences substantial growth, primarily propelled by the rapid expansion of emerging markets within the forecasted period. The International Monetary Fund (IMF) reports global GDP growth at 3.3% in 2020 and 3.4% in 2021, with recovering commodity prices further augmenting market growth post a significant decline in the historic period. Stable economic growth is expected not only in developed economies but also in emerging markets, which are forecasted to outpace developed markets slightly. This stable economic outlook is poised to stimulate investments in end-user markets, thereby serving as a driving force for the video game software market during the forecast period. As of 2028, the market is characterized by sustained growth, reflecting the positive economic conditions outlined.

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What Are The Key Trends That Influence Video Game Software Market Share Analysis?

Leading companies in the video game software market are focusing on introducing innovative solutions, such as game development studios, to enhance their market profitability. Game development studios are responsible for creating, developing, and launching video games across various platforms. For example, in November 2022, Indium Software, a U.S.-based Digital Engineering services company, unveiled its comprehensive game development studio, iXie. This studio offers a broad range of gaming services to top global video game companies and is expanding into the gaming-as-a-service sector with a robust game design and development capability.

Which Market Players Are Driving Growth In The Video Game Software Market?

Major companies operating in the market are Tencent Holdings Ltd., Nintendo Co.Ltd., Sony Corporation, NetEaseInc., Microsoft Corporation, Activision BlizzardInc., Electronic Arts Inc, Ubisoft Entertainment SA, Square Enix Holdings Co.Ltd., Konami Holdings Corporation, Nova Gaming Ventures Private Limited, TA Games Studio, Virtuos Holdings Pte. Ltd., Elex Technology Co. Ltd., Zeus Interactive Co. Ltd., Beijing Babeltime Technology Co. Ltd., Happy Elements Technology (Beijing) Limited, Shanghai Everstar Online Entertainment Co. Ltd., 2Pi Interactive, 99Games, Apar Games, Dhruva Interactive, CreatioSoft, Sega Sammy Holdings, Bandai Namco Holdings, BEETSOFT Co. Ltd., Rikkeisoft, Wizcorp, CoolGames, Tinhvan Outsourcing Jsc. (TVO), Playsoft Game, Supercell, Gameloft, Ronimo Game, Travian Game, Asobo Studio, Team17 Digital Limited, Engine Software, Frontier Developments plc, Keywords Studio, Sumo Digital Team17 Digital Limited Frontier Developments, Codemasters, XSEED Game, 22cans Ltd, 4J Studios Limited, Blitz Games Studios Limited, BossAlien, Climax Studios, Curve Digital Limited, Rockstar North Limited, Sports Interactive Limited, Criterion Games, HeroCraft, Brainy Studio, BUKA Entertainment, Factory Online, Ambidexter LLC, Mail.Ru Group, Alawar Entertainment, Nival, GSC Game World, Action Forms, Meridian’93, Elephant Game, Gaijin Entertainment, Novosoft, Alderac Entertainment Group, Arc Dream Publishing, Evil Hat Productions, Valve Corporation, Etermax, Bamtang Game, Squad, Iguanabee, AOne Game, Pomelo Game, Wixel Studios in Lebanon, Nezal Entertainment in Egypt, UAE-based Tahadi Games, Game Power 7, Gameguise

How Is The Global Video Game Software Market Segmented?

The video game software market covered in this report is segmented –

1) By Type: PC Games, Browser Games, Smart Phone/Tablet Games, Console Games
2) By Genre: Action, Adventure, Role Playing, Simulation, Strategy, Sports, Shooter, Fighting, Racing, Other Genres
3) By Type Of Transaction: Physical, Online/Microtransaction, Digital

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The Video Game Software Global Market Report 2024 provides an overview of the video game softwaremarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The video game software market forecast analyzes video game software market size, video game software market share, leading competitor and their market positions.

The Table Of Content For The Video Game Software Market Include

1. Video Game Software Market Executive Summary
2. Video Game Software Market Segments
3. Video Game Software Market Size And Template Market Growth Rate
4.  Key Video Game Software Market Trends
5. Major Video Game Software Market Drivers
……
25. Key Mergers And Acquisitions In The Video Game Software Market
26. Top Video Game Software Companies
27. Video Game Software Market Opportunities And Strategies
28. Video Game Software Market, Conclusions And Recommendations
29. Appendix

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