(2020-2030) Video Game Software Market Size, Share, Growth, Latest Trends With Top Key Players Tencent Holdings Ltd., Nintendo Co., Ltd., Sony Corporation, NetEase, Inc., Microsoft Corporation

The Business Research Company’s Video Game Software Market Report - Opportunities And Strategies - Global Forecast To 2030

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The global video game software market reached a value of nearly $167,220.2 million in 2019, having increased at a compound annual growth rate (CAGR) of 13.0% since 2015. The market is expected to decline from $167,220.2 million in 2019 to $166,439.7 million in 2020 at a rate of -0.5%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 11.0% from 2021 ad reach $223,277.1 million in 2023. The market is expected to reach $274,458.3 million in 2025, and $452,628.1 million in 2030.

The Key drivers of the Video Game Software market include:-
Cross-platform publishing and play games are expected to drive the market for video games in the forecast period. Companies in the PC games industry are launching cross-platform publishing and play games to make gaming more flexible for users. Cross-platform publishing gives players the ability to play the same video games on different platforms through progress retention. Similarly, cross-platform play is a characteristic of a video game that enables gamers to use different gaming platforms such as console, mobile and PC to play with each other simultaneously. In many cases, these cross-platform games are restricted within the respective publisher’s platforms.

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Video Game Software Market Segmentation:-
By Type
1. PC Games
2. Browser Games
3. Smartphone/Tablet
4. Console Games

The PC games market was the largest segment of the video game software market segmented by type, accounting for 43.9% of the total in 2019. Going forward, the smart phone/ tablet games segment is expected to be the fastest growing segment in the video game software market segmented by type, at a CAGR of 8.2% during 2019-2023.

By Type Of Transaction
1. Physical
2. Online/ Microtransaction
3. Digital

The online microtransaction market was the largest segment of the PC games market segmented by type, accounting for 83.5% of the total in 2019. Going forward, the online microtransaction segment is expected to be the fastest growing segment in the PC games market segmented by type, at a CAGR of 8.18% during 2019-2023.

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By Geography - The Video Game Software market is segmented Into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

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Some of the major key players involved in the Video Game Software market are
1.Tencent Holdings Ltd.
2.Nintendo Co., Ltd.
3.Sony Corporation
4.NetEase, Inc.
5.Microsoft Corporation

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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