The Video Game Software Global Market Report 2023 by The Business Research Company, provides video game software market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Video Game Software Global Market Report 2023, the market size grew from $228.1 billion in 2022 to $260.83 billion in 2023 at a compound annual growth rate (CAGR) of 14.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The video game software market is expected to grow to $431.73 billion in 2027 at a CAGR of 13.4%
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.
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The video game software market 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, Other Genres
3) By End User Sex: Male, Female
Subsegments Covered: Online Microtransaction, Digital PC Games, Physical PC Games
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.
The video game software market report table of contents includes:
1.Video Game Software Market Executive Summary
2.Table of Contents
3.List of Figures
4.List of Tables
5.Report Structure
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26.Key Mergers And Acquisitions In The Video Game Software Market
27.Market Background: Software Products Market
28.Video Game Software Market Future Outlook and Potential Analysis
29.Video Game Software Market, Conclusions And Recommendations
30.Appendix
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