The video game software market will reach $751.4 billion by 2031:

Portland, OR, Oct. 25, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the video game software market generated $198.5 billion in 2021 and is expected to reach $751.4 billion by 2031, growing at a CAGR of 14.4% from 2022 to 2031. changing market trends, market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, early adopters and stockholders in introducing necessary strategies for the future and taking essential actions to significantly strengthen and increase their position in the market.

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Report coverage and details:

Report cover Details
Forecast period 2022–2031
base year 2021
Market size in 2021 $198.5 billion
Market size in 2031 $751.4 billion
CAGR 14.4%
Number of pages in the report 345
Segments Covered Device type, end user, gender and region.
Drivers Increase in standard of living
Increased demand for easily accessible forms of entertainment and media
Opportunities Emergence of advanced technologies such as virtual reality and mixed reality with suites of video game software solutions
Growing popularity of working from home
holds back Hardware and infrastructure requirements of modern video games
Limited to specific consumers

COVID-19 scenario:

The COVID-19 outbreak has had a positive impact on the growth of the global video game software market, owing to the occurrence of lockdowns in various countries around the world. The lockdowns have led to increased internet penetration around the world and as a result, more and more people, especially the younger generation, have switched to video games. Also, the rise in popularity of working from home and the continued progress and application of virtual reality and mixed reality in video games are expected to create many opportunities for the industry. Thus, the dramatic increase in screen time and digital presence of people during the COVID-19 induced lockdown period and social distancing policies have significantly boosted the market growth.

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

Based on device type, the smartphone segment held the largest market share in 2021, holding more than a third of the global video game software market share, and is expected to maintain its leading status during of the forecast period. Furthermore, the same segment is expected to quote the fastest CAGR of 14.9% during the forecast period. The report also analyzes other segments such as Console, PC and Others.

On the basis of end-user, the commercial segment held the dominant market share in 2021, holding more than two-thirds of the global video game software market share, and is expected to maintain its leading status during the period forecast. Also, the same segment is expected to quote the fastest CAGR of 15.0% during the forecast period. The report also includes other segments such as personal segment.

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

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

Major 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, Virtuus Holdings Pte. Ltd and Zeus Interactive Co., Ltd.

The report analyzes these key players of the global video game software market. These market players have effectively used strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is useful for analyzing recent developments, product portfolio, business performance, and operating segments of major market players.

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About Us

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “Market research reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.


        

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