Video Game Software Market Report Unveils Revenue Surges and Emerging Trends | 2031

A significant rise in digital and online entertainment modes during the pandemic had a positive impact on global market growth.

PORTLAND, PORTLAND, OR, UNITED STATES, May 10, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global video game software market generated $198.5 billion in 2021, and is projected to reach $751.4 billion by 2031, growing at a CAGR of 14.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Video game software" refers to the programs and code that make video games run. It encompasses everything from the game engine, which provides the core functionality and mechanics, to the graphics rendering software, audio engines, physics engines, and other components necessary for creating an interactive gaming experience. Video game software also includes tools for designing levels, characters, and assets, as well as debugging and optimization software to ensure smooth performance. In essence, it's the digital infrastructure that brings a video game to life on various platforms like consoles, computers, and mobile devices.

COVID-19 Scenario:

The outbreak of the COVID-19 has had a positive impact on the growth of the global video game software market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in increased internet penetration around the world, and hence more and more people, particularly the younger generation, switched to video games. In addition, increase in popularity of work from home culture and persistent advancements and application of virtual reality and mixed reality in video games are expected to create ample opportunities for the industry. Thus, dramatically increased screen time and digital presence of people during the period of COVID-19-induced lockdowns and social distancing policies significantly boosted the growth of the market.

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The report offers detailed segmentation of the global video game software market based on device type, end-user, genre, and region.

Based on device type, the smartphone segment held the largest market share in 2021, holding more than one-third of the global video game software market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 14.9% during the forecast period. The report also analyses other segments such as Console, PC, and others.

Based on end-user, the commercial segment held the dominating market share in 2021, holding more than two-thirds of the global video game software market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 15.0% during the forecast period. The report also includes other segments such as personal segment.

Based on genre, the action segment held the dominating market share in 2021, holding nearly one-fourth of the global video game software market share, and is expected to maintain its leadership status during the forecast period. The report includes other segments such as adventure, role playing, simulation, strategy, sports, and others.

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Based on region, the market across North America held the largest market share in 2021, holding more than one-third of the global video game software market share, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 16.2% during the forecast period.

The key players analyzed in the global video game software market report include Activision Blizzard, Apple, Inc, Beijing Babeltime Technology Co., Ltd., Electronics Art, Inc, Konami Holdings Corporation, Lucid Games, Microsoft Corporation, Nintendo, Nova Gaming Ventures Private Limited, Rovio Entertainment Corporation, Sony Interactive Entertainment., Square Enix Holdings Co. Ltd, Tencent Holdings Limited, TA Games Studio, Ubisoft Entertainment SA, Virtous Holdings Pte. Ltd, and Zeus Interactive Co., Ltd.

The report analyzes these key players in the global video game software market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report helps analyze recent developments, product portfolio, business performance and operating segments by prominent players in the market.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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