The global video game software market was valued at USD 174 Billion in 2020 and is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Video game software is a program that facilitates interaction by user interface or input devices such as joysticks, controllers, keyboards, or motion sensor devices. Video games are usually supplemented with audio feedback that is delivered through speakers or headphones. Video game software programs use a platform which is a combination of electronic components and computer hardware along with an associated software. These platforms are essential for video games to operate. Video game software are required to be downloaded or installed in the platform for it to be accessed. These games are mainly played by the younger generation and teenagers. Many innovative and advanced video games are emerging in the market. Video game software programs are designed and marketed to primarily attract the target teenagers and children.
The report on the global video game software market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes | Details |
Report Title | Video Game Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018 & 2019 |
Forecast Period | 2021–2028 |
Segmentation | Gaming Types (Consoles, Tablets, Smartphones, Downloaded/Box PCs, and Browser PCs) |
Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered in the Report | Sony Corporation, Microsoft Corporation, Nintendo, Tencent Holdings Limited, and Electronic Arts Inc |
On the basis of gaming types, the market can be segmented into consoles, tablets, smartphones, downloaded/box PCs, and browser PCs. The smartphones segment accounted for a significant market share in 2020 owing to the rise in global demand for mobile games. Smartphones are an efficient platform for video game software programs as these can be carried anywhere and it is comparatively easier to download games on a mobile phone. Smartphone gaming applications became widely preferable during the spread of COVID-19 owing to the emergence of new and immersive games that could be played while sitting at homes. Technological advancements such as AR, VR, and cloud gaming further fueled the growth of the smartphones segment. The AR technology is usually adopted for mobile gaming due to its interactive nature of technology and the multiple additions of genre integrated in the AR games. The consoles segment is also projected to expand at a substantial growth during the forecast period owing to the rising disposable income among the consumers. Console-based video games can be played by using a gaming controller and a hardware electronic device that outputs a video signal to display the video game.
In terms of regions, the global video game software market can be fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020 due to mergers and acquisitions conducted by key market players. Moreover, increase in R&D spending and growing advancements in the coding and gaming sectors are driving the market in Asia Pacific. The market in North America is projected to expand at a significant CAGR during the forecast period due to growing R&D expenditure and new product development and innovation by key players.
Key players in the global video game software market include Sony Corporation, Microsoft Corporation, Nintendo, Tencent Holdings Limited, and Electronic Arts Inc. These players have constantly engaged in several market development strategies including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence, expand their customer base globally and increase their market share.
Key players in the global video game software market include Sony Corporation, Microsoft Corporation, Nintendo, Tencent Holdings Limited, and Electronic Arts Inc. These players have constantly engaged in several market development strategies including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence, expand their customer base globally and increase their market share.
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