Video Game Software Market Characteristics
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.
Competitive Landscape of the Video Game Software Market
Major players in the global video game software market include Sony, Activision Blizzard, Microsoft, EA, Nintendo.
Video Game Software Market Size
The video game software market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the video game software market is due to emerging markets growth, technology development, and increase in gaming population.
However, the market for video game software is expected to face certain restraints from several factors such as budgets, security concerns and addiction issues.
Video Game Software Market Segmentation
The global video game software market is further segmented based on type and geography.
By Type - The video game software market is segmented into browser games, pc games, smart phone/tablet games, console games.
By Geography - The global video game software is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific video game software market accounts the largest share in the global video game software market.
Trends in the Video Game Software Market
Virtual reality (vr) and augmented reality (ar) are gaining popularity in the video game software market. vr allows players to experience being in a three-dimensional environment and interact with that environment. AR is a specific type of VR that aims to duplicate the environment through computer software and displays. AR adds intense graphics, sounds and even smell to the experience. Pokemon GO is one such AR video game where the player can catch and train pokemon and then fight with other players and their “pets”, is the major trend witnessed in the global video game software market.
Potential Opportunities in the Video Game Software Market
With smart cities, government initiatives, internet of things (ioT), increasing usage of video games, the scope and potential for the global video game software market is expected to significantly rise in the forecast period.