Game Engine Market Report 2024 - Game Engine Market Demand And Growth By 2033

"The Business Research Company recently released a comprehensive report on the Global Game Engine Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The game engine market size has grown rapidly in recent years. It will grow from $3.15 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to rise of video game industry, advancements in graphics processing, proliferation of multiplatform gaming, open-source game engine development, globalization of the gaming industry.

The game engine market size is expected to see rapid growth in the next few years. It will grow to $5.77 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to ray tracing and real-time rendering, cloud gaming and streaming services, integration of artificial intelligence (ai), blockchain and nft integration, accessibility and inclusivity features. Major trends in the forecast period include collaboration and community building, cloud-based gaming, cross-platform development, virtual reality (vr) and augmented reality (ar) support, subscription-based models.

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Market Drivers and Trends:
The growing demand for mobile devices is expected to propel the growth of the game engine market going forward. Mobile devices refer to portable electronic gadgets or tools designed for easy mobility and typically include built-in or wireless connectivity features for communication and access to information. Game engines play a crucial role in the development of mobile games and contribute significantly to the success and performance of these games on mobile devices. For instance, according to the International Data Corporation, a US-based provider of market intelligence and advisory services, the global shipments of used mobile devices, including officially reconditioned and pre-owned smartphones, are expected to reach 282.6 million units in 2022, marking an 11.5% increase from 253.4 million units in 2021. This growth is expected to continue, and IDC forecasts that used smartphone shipments will reach 413.3 million units in 2026 with a compound annual growth rate (CAGR) of 10.3% from 2021 to 2026. Therefore, the growing demand for mobile devices is driving the growth of the game engine market.

Major companies operating in the game engine market are developing innovative technologies, such as community-driven sports AI game engines, to strengthen their position in the market. A community-driven sports AI game engine is a type of game engine specifically designed for creating sports-themed video games that incorporate artificial intelligence (AI) elements and is developed with significant input and contributions from a community of game developers, enthusiasts, and users. For instance, in August 2023, LootMogul, a US-based athlete-led sports technology platform, launched MogulX.ai for game developers. This platform allows users to create their own AI avatars, known as non-player characters (NPCs), and utilize LootMogul's open AI architecture to create their own games. It is a community-driven sports AI game engine that allows athletes, fans, and game developers to collaborate and develop AI-driven sports games.

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Major Key Players of the Market:
Amazon.com Inc., Epic Games Inc., Stride Inc., Unity Software Inc., Upwork Inc., QBurst, G2, Crytek GmbH, Hyperlink InfoSystem, Appinventiv Technology Pvt. Ltd., Belitsoft, The NineHertz, Algoworks Solutions Inc., Silicon Studio Crop, VironIT, Daffodil Software, Redwerk LLC, Dev Technosys, Solarus Thecnologies Inc., YoYo Games Ltd., Softeq Development Corporation, GameSalad, Scirra Ltd., Corona Labs Inc., Clickteam LLC, Stencyl, Delta Engine GmbH, Argentics, , ,

Game Engine Market 2024 Key Insights:
• The Game Engine Market is expected to grow to $5.77 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%.
• Growing Demand For Mobile Devices Fueling Game Engine Market Growth
• Defining Community-Driven Sports AI Game Engines
• Asia-Pacific was the largest region in the game engine market in 2023.

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This release was published on openPR.