Video Game Software Market | Contrive Datum Insights

Market Overview:

Video Game Software Market Size Was Valued At SD 226.3 Billion In 2022, And Is Projected To Reach USD 653.2 Billion By 2030, Growing At A CAGR Of 14.4% From 2022 To 2030.

Video game software is a programme that lets people play games using different input devices, like consoles, keyboards, motion sensors, and joysticks. These software programmes work with the help of both computer hardware and electronic parts, which are backed by software. Video games can't work without the platforms that these hardware and apps provide.

There are a lot of companies competing for market share, so the business is very competitive. Game developers like Electronic Arts, Activision Blizzard, and Ubisoft, as well as device makers like Sony, Microsoft, and Nintendo, are some of the biggest names in the business. Games can be played on computers, PCs, and mobile devices, so the market is split up into different platforms. In addition to classic games, the market has seen the rise of new types of games like mobile gaming, esports, and virtual reality games.

The ways that video game makers make money have also changed over time. They have tried everything from subscription services to in-game purchases. This has made it harder to find the right mix between making money and making sure players are happy. Even with these problems, the video game software market is expected to keep growing in the coming years. This is because customers are becoming more interested in gaming and the industry is always coming up with new ideas.

During the COVID-19 pandemic, there has been more demand for work-from-home and online education policies. This has helped the global video game market grow, which has increased the need for software solutions for video games. The growth of the video game business is also helped by the growing demand for entertainment and media that is easy to get. But the hardware and infrastructure that current video games need can make it hard to predict the market for video game software. On the other hand, new technologies like virtual reality, video game software solution suites, and mixed reality are likely to help the video game software business grow and thrive over the next few years.

Market Dynamics:

Trends:

Streaming games are becoming more popular: Video game software makers are adding more live services to take advantage of new technologies like 5G and cloud computing. Some countries already have 5G, which has made the internet much faster. More people will want to download and watch games as a result. Streaming lets you play the latest version of a game without having to update it. Thanks to cloud software and fast internet speeds, users will be able to play games on any computer. This will also help more people play games. For example, in August 2019, Hatch Premium started giving unlimited mobile cloud gaming on the 5G networks of Sprint, an American telecommunications company. It lets games be streamed from the cloud to mobile devices. Games like Angry Birds Go, Beach Buggy Racing, and Monument Valley are all out there.

Using technologies like virtual reality (VR) and augmented reality (AR): VR and AR are being used more and more by video game developers to make games better for players. In virtual reality (VR), a computer makes a simulated world that can be seen and heard. AR makes things dynamic by adding information made on a computer to things in the real world. According to the VRDC VR/AR Innovation report, which came out in 2017, 78% of the people who worked on AR, VR, and mixed reality focused on making games that used these technologies. For example, Half-Life: Alyx is a brand-new game in the Half-Life world that was made just for PC virtual reality platforms. Some of the largest businesses that use AR and VR technologies to make games are Niantic, Owlchemy Labs, Unity Technologies, and Ubisoft.

Drivers:

Playing and Publishing on Multiple Platforms, Advancements in Technology, Increasing Consumer Demand: Cross-platform publishing and play games are expected to drive the video game market over the next few years. PC game makers are making cross-platform publishing and play games to give users more ways to play games. Cross-platform sharing lets people who play the same video game on different devices keep what they've done so far. In the same way, cross-platform play is a feature of a video game that lets people who play on different systems, like computer, mobile, and PC, play together at the same time. Most of the time, you can only play these games on the sites of the companies that made them. For instance, you can play some Monster Hunter RPGs on the 3DS, the Wii U, and the Switch. Cross-platform games are becoming more popular because scripting languages, software tools, and game engines have gotten better. This makes it easier for PC game companies to use details about the user's platform in a useful way. In 2019, Microsoft will add iOS, Android, and Switch to Xbox Live's cross-platforms. This will increase the number of users from 400 million to over 2 billion. In the next few years, cross-platform production and play games will drive the market for video game software.

Changes in Technology: The video game software market is highly influenced by changes in technology, which have made it possible for game developers to make games that are more immersive and look better. The market has grown thanks to improvements in images, processing power, and the ability to connect to the internet. Video games are becoming more and more famous, and there are now more casual and serious gamers than ever before. Consumers are turning to video games more and more as a way to pass the time. This is driving the growth of the business.

Restrains:

Piracy and Copyright Infringement: Piracy and copying without permission are problems that keep coming up in the video game software market. Piracy can have a big effect on how much money game makers and publishers make, and the fact that it's easy to share games online makes it hard to stop piracy and copyright violations.

Growing worries about privacy: Over the next few years, concerns about privacy are likely to slow the growth of the video game software market. Because players' positions are so important in massively multiplayer online role-playing games (MMORPGs) and because virtual and augmented reality games are becoming more popular, there are more privacy concerns in the video game market. Also, the links between video game platforms like computers and social networking platforms like Facebook, Twitter, and Skype are getting stronger. Some games, like Pokémon Go, have gotten a lot of attention because iPhone users can sign up for them and give the game access to their friends and Gmail accounts. It's also not clear how much information about players Niantic, the company that makes the game, gathers, uses, and shares. In 2018, a bug was found in the Domain Name System (DNS) of Activision Blizzard games like World of Warcraft and Diablo III.

Opportunities:

PC games lead in type, action games lead in genre market: When the video game software market is broken down by type, the best opportunities will be in the PC games market area, which will bring in $26,899.7 million in sales around the world every year by 2023. When the market for video game software is broken down by type, the action games market will have the most opportunities.

Stream games, embrace AR/VR, prioritize security, expand in emerging markets: To take advantage of the opportunities, the business research company suggests that video game software companies focus on streaming games, focus on augmented reality (AR) and virtual reality (VR), focus on security, grow in emerging markets, offer competitively priced products in low-income countries to reach new users, offer in-game purchases, offer subscription-based pricing, use social media, work with live streamers and gaming companies, and collaborate with live streamers.

Challenges:

Adapt to evolving technology for innovation: High-quality visuals and game play in video games require complex technology. As technology changes, developers must buy new gear and software to keep up with the latest trends.

Evolving monetization models challenge game developers' strategies: The ways that makers make money from video games are always changing. They try out everything from subscription services to in-game purchases. It can be hard to find the right way to make money from a game that helps it grow and is also accepted by the player group.

Fragmented platforms challenge seamless cross-platform development: The market for video games is spread out over many systems, such as consoles, PCs, and mobile devices. Because of this, it can be hard for developers to make games that work well on all devices.

Major Market Segment Covered:

The Video Game Software market research report is categorized based on type, applications and region.

By Gaming Type:

• Consoles
• Tablets
• Smartphones
• Downloaded/Box PCs
• Browser PCs

On the basis of the type of game, the market can be split into platforms, tablets, smartphones, downloaded/box PCs, and browser PCs. In 2020, smartphones made up a big part of the market because more people around the world wanted to play mobile games. Smartphones are a good place for video game software programs because they can be taken anywhere and it is easier to download games on a mobile phone. During the rise of COVID-19, people started to prefer smartphone gaming apps because new, more immersive games could be played while sitting at home. New technologies like AR, VR, and cloud games have also helped the smartphones market grow. AR technology is usually used for mobile gaming because it is engaging and can be used in many different types of games. During the forecast period, the consoles market is also expected to grow at a significant rate. This is because consumers will have more money to spend on entertainment as their incomes rise. Console-based video games can be played with a gaming controller and a hardware computer device that sends out a video signal to show the video game.

By Application:

Education

Video games designed for education aim to teach players about a particular subject or skill. These games can range from basic arithmetic and language learning to more advanced subjects like coding and environmental science. They are often used in schools and other educational settings.

Entertainment

This is the most common application of video games. These games are designed to provide players with entertainment and enjoyment. They can be played on consoles, PCs, mobile devices, and online. This segment includes various genres like action, adventure, simulation, strategy, and role-playing games.

Electronic Sports

This is a rapidly growing segment of the video game market, where players compete in organized tournaments and leagues. These games are typically played on PCs or consoles and include popular titles like Dota 2, League of Legends, and Counter-Strike: Global Offensive. The market for eSports is expected to continue to grow as more players, fans, and sponsors get involved.

Regional Insights:

Geographically, the global Video Game Software market has been looked at in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa (MEA).

Asia-Pacific had more than 53% of the market's earnings in 2021. China's rise as a major game hub has made it possible for the regional market to rule the global market. The market in the area is growing because more and more people in China have computers. China's Tencent Holdings Limited is now the biggest video game company in the world. This is because the company has been actively following non-organic growth strategies, like buying Riot Games and Supercell Oy, which have helped the company grow quickly.

As the number of online gamers and online gaming events grow in the Asia-Pacific region, market players are creating platforms that could give gamers access to AAA games. For example, Tencent Holdings Limited and NVIDIA Corporation worked together in December 2021 to release START, a new cloud gaming service that lets players play AAA games on low-powered devices. As e-sports and massively multiplayer online games become more popular in South Korea, the country is expected to contribute a lot to the growth of the regional market.

Scope of Report:

Key Players:

• EA

• Vivendi

• Ubisoft

• Microsoft

• Nintendo

• SCE

• Konami

• Capcom

• Square Enix

• SEGA

• Bandai Namco

• Activision Blizzard Inc

• Rovio Entertainment Corporation

Vendors:

1. EA: Their mission is to motivate people globally to engage in play. Their workforce is their priority, and they appreciate the diverse backgrounds of their employees in combination with their modern technology and captivating storytelling. They aim to create a work environment where everyone can express themselves freely while positively impacting their community, regardless of their location. They are searching for individuals who can solve problems, make significant changes, bring new ideas, aspire for greatness, and take action to improve the gaming industry's future

2. Vivendi: They brings together a wide range of talented artists and industry workers to make entertainment that is both creative and emotionally engaging for people all over the world. They work closely together to help all kinds of culture grow. They help us share what we know and fight for the values of equality and inclusion in everything we do. Brands benefit from them in a big way.

3. Ubisoft: The 21,000 people who work for Ubisoft in more than 30 countries around the world all have the same goal to give players original and memorable game experiences that make their lives better. Their hard work and skill have led to the creation of well-known titles like Assassin's Creed, Far Cry, Watch Dogs, Just Dance, Rainbow Six, and many more. Ubisoft is an equal-opportunity employer who thinks that different backgrounds and points of view are important for making worlds where both players and teams can grow and be themselves.

4. SCE: As one of the biggest electric utilities in the country, they are bringing more clean and renewable sources of energy to Southern California. From storing energy to making transportation electric, our workers are working on new projects that will help cut emissions and greenhouse gases to make the air cleaner for everyone. They have many different kinds of people on their teams, including people who come up with ideas, do things, and solve problems. They are fuelling the kind of innovation that is changing an entire business and maybe even the whole planet.

5. Bandai Namco: The way NAMCO BANDAI Games is set up is meant to make sure that their goods are successful. They have two virtual functional systems: the Production Group and the Publishing Functions. The Production Group not only makes content, but also promotes the full strategy for the content it makes, including how it will be used and how it will work with other businesses in the Group and partners like the media and outside production companies. Their Publishing Functions work to make sure that material is delivered quickly and easily to multiple channels in Japan and around the world.

Strategic Development:

• In May 2022: Saw the release of Warcraft Arclight Rumble, an action-packed mobile strategy game from Blizzard Entertainment. In some areas, both Android and iOS devices will be compatible with this action-packed mobile approach. The alliance has many advantages, including the ability for gamers to gather over 60 characters from the whole Warcraft universe.

• In April 2022: Bandai Spirits Co. Ltd, which is a division of Bandai Namco Entertainment, announced the construction of a new plant for Bandai Hobby Centre in Japan. The purpose of this move is to expand the company's global business by actively promoting the internationalization of visual materials, goods, and services from the Gundam series.

• In March 2022: Sony declared its intention to purchase Montreal-based Haven entertainment Studios Inc. With funding from SIE, Haven Studios was established in March 2021 and is run by a group of top-tier game developers with more than 10 years of experience working on some of the most well-known titles and franchises in the business.

Market Segmentation:

By Gaming Type:

• Consoles
• Tablets
• Smartphones
• Downloaded/Box PCs
• Browser PCs

By Application:

• Education
• Entertainment
• Electronic Sports

Global Video Game Software Regional Insights:

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Conclusion:

According to the research, the global market for video game software is expected to grow at a fast rate from 2017 to 2030, with 2022 as the base year. The market is growing because of things like the growing success of e-sports, the fact that big players in the gaming industry are investing more money, and the fact that more and more people are playing games on their phones. The report also talks about how the COVID-19 pandemic has affected the market for video game software. It also gives a thorough breakdown of the market by product type, application, player, and region. During the time frame of the forecast, North America is projected to have the biggest share of the market, followed by Europe and Asia-Pacific. Overall, the future of the global market for video game software looks good, with chances for growth and new ideas in many different areas.