Global Video Game Software Market Trends And Strategies Of Major Players In The Video Game Software Market 2021-2030
24 Jun, 2021
The video game software market consists of sales of video game software by entities (organizations, sole traders and partnerships) that produce video game software, including businesses that are involved in design, documentation, installation and support services, producing and distributing video games. This also includes companies that are solely involved in designing and developing or in publishing only.
Global Video Game Software Market Size And Drivers:
The global video game software market is expected to grow from $168.78 billion in 2020 to $177.17 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $277.95 billion in 2025 at a CAGR of 12%. The video game software market was mainly driven by rapid growth in emerging markets in the forecasted period.
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Trends In The Global Video Game Software Market
Games as a service is a software delivery method where a vendor generally hosts a gaming application in a remote server and customers can access it through the internet, also known as cloud gaming. Many game developers are providing their content through a subscription-based model, and are allowing customers to purchase additional content or features through micro transactions. This includes new in-game items, weapons, clothing, or other gear for the player`s character along with in-game currency and rewards. This business-model provides a continuous revenue stream for the gaming companies instead of limiting the revenues to one-time purchases. Major companies providing games as a service include Activision and Blizzard Entertainment.
Global Video Game Software Market Segments:
The global video game software market is further segmented based on type, genre and geography.
By Type: PC Games, Browser Games, Smart Phone/Tablet Games, Console Games
By Genre: Action, Adventure, Role Playing, Simulation, Strategy, Sports, Others
Sub segments Covered: Online Microtransaction, Digital PC Games, Physical PC Games
By Geography: The global video game software market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global video game software market, accounting for 51% of the market in 2020.
Read More On The Report For The Global Video Game Software Market At:https://www.thebusinessresearchcompany.com/report/video-game-software-global-market-report
Video Game Software Global Market Report 2021 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 and growth for the global video game software market, video game software market share, video game software market players, video game software market segments and geographies, video game software market’s leading competitors’ revenues, profiles and market shares. The video game software market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.