DUBLIN–(BUSINESS WIRE)–The “Video Game Software Global Market Report 2022, By Type, Genre, End User Sex” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global video game software market as it emerges from the COVID-19 shut down.
The global video game software market is expected to grow from $197.54 billion in 2021 to $226.97 billion in 2022 at a compound annual growth rate (CAGR) of 14.9%. 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 $380.06 billion in 2026 at a CAGR of 13.8%.
- Tencent Holdings Co. Ltd.
- Nintendo Co. ltd.
- Sony Corp.
- Netease Inc.
- Electronic Arts
- Financiere de l’Odet
- Take-Two Interactive
- Bandai Namco Holdings Inc.
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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.
The main types of video game software are browser games, PC games, smart phone/tablet games and console games. A browser game is a computer game played online using a web browser over the internet. The various genre includes action, adventure, role playing, simulation, strategy, sports and others and are played by male and female end users.
The video game software market was mainly driven by rapid growth in emerging markets in the forecasted period. The International Monetary Fund (IMF)stated that the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period .
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.
In June 2019, Immortals gaming club, a USA-based company specialized in providing esports platform through the development of software such as video game software, acquired Infinite esports & entertainment for over $100 million. The acquisition is expected to help Immortals gaming club to become a part of franchised esports leagues and to become the world’s largest esports organizations, boosting elite brands such as Immortals, OpTic, MIBR and LA Valiant. Infinite esports & entertainment is a USA-based esports and entertainment holdings company that specializes in electronic sports, online media and multi-gaming.
Asia Pacific was the largest region in the global video game software market in 2021. North America was the second largest region in video game software market. The regions covered in the video game software market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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