An increase in the commercialization of 5G technology as well as an increase in the adoption of cloud gamification is expected to drive the growth of the global gaming software market during the forecast period. That North America the region is expected to hold the majority of the market share by 2032.
PORTLAND, Ore., 21 November 2023 /PRNewswire/ — Allied Market Research recently published a report titled “Gaming Software Market by Purchase Type (Box/CD Game, Shareware, Freeware, In-App and Purchase-based, Digital), by Type (PC Games, Browser Games, Console Games, Smartphone/Tablet Games): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global gaming software market generated 127.1 billion dollars in 2022 and is expected to generate 301.5 billion dollars in 2032, with a CAGR of 9.3% from 2023 to 2032.
Primary determinants of growth
The global gaming software industry is experiencing significant growth driven by various factors. The commercialization of 5G technology stands out as a key driver, affecting mobile gaming in particular by enabling cloud gaming for mobile users and delivering console-level graphics. Moreover, an increase in the number of players and the increasing popularity of immersive and competitive games on mobile devices are contributing to the expansion of the market. The increased adoption of cloud gamification and the improvement of gaming experiences across platforms offer promising opportunities for market players. However, games often require access to social media, making compliance with data protection imperative. The challenge of maintaining trust and operational efficiency in the face of these concerns poses a potential hindrance to sustained market growth over the forecast period.
Download sample pages: https://alliedmarketresearch.com/request-sample/15568
Report coverage and details:
|
Report coverage |
details |
|
Forecast period |
2023-2032 |
|
Base year |
2022 |
|
Market size in 2022 |
127.1 billion dollars |
|
Market size in 2032 |
301.5 billion dollars |
|
CAGR |
9.3% |
|
Number of pages in report |
300 |
|
Covered segments |
Type, Purchase type and Region |
|
Drivers |
Commercialization of 5G technology
Increase in the number of players and immersive games on mobile devices |
|
Opportunities |
Widespread use of 5G technology
Increasing demand for immersive and competitive gaming across multiple platforms |
|
Limitations |
Strict data protection requirements, especially in games with social media integration |
COVID-19 scenario
- The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global gaming software market. As individuals spent more time at home, there was a notable increase in the demand for gaming entertainment. This increased engagement spanned various gaming platforms, from consoles and PCs to mobile devices, resulting in significant revenue growth for the industry.
- Furthermore, online multiplayer games experienced a booming period as people sought avenues for social interactions in virtual environments.
- While the pandemic presented challenges to various sectors, it became a catalyst for the gaming software market, demonstrating its resilience and adaptability to changing consumer needs in times of global uncertainty.
Buy this complete report (300 page PDF with insights, charts, tables and figures) at:
https://www.alliedmarketresearch.com/gaming-software-market/purchase-options
By Type: Smartphone/Tablet Gaming Segment to Sustain Growth in 2032
The smartphone/tablet gaming sub-segment emerged as the dominant force in the global gaming software market, holding a significant share of 36.9% in 2022. This sub-segment is expected to lead the market and grow at a CAGR of 11.2% during the forecast period. The preference for smartphone and tablet games is mainly due to their portability, easy game downloads, and the rise in popularity during the COVID-19 pandemic, where people sought immersive gaming experiences while staying at home. Additionally, the integration of new technologies such as Augmented Reality (AR), Virtual Reality (VR) and cloud gaming further fueled the growth of this segment.
Type of Purchase: Boxed/CD Game Segment to Hold Majority of Market Share by 2032
The Box/CD Games sub-segment held the largest share of 30.5% in 2022 and is expected to dominate the market by holding a market share of 36.3% in 2032. The sustained popularity of Box/CD Games is attributed to their reliable gaming experience without the need for constant internet connection. This appeals to individuals in areas with unreliable or limited internet access, ensuring uninterrupted gameplay even when online servers face disruptions.
Region: North America dominated the market in 2022
In 2022, North America the region dominated the global gaming software market with a large share of 39.7%. The widespread use of mobile devices, including smartphones, and the availability of affordable data plans fueled the region’s gaming software market. North America dynamic and thriving gaming industry, enriched by a strong gaming heritage, robust eSports events and a massive player base, demonstrated the region’s resilience and adaptability to evolving technology and consumer preferences.
Pre-Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/15568
Leading players in the gaming software market:
- Rockstar Games Inc.
- Bethesda Softworks LLC.
- Nintendo Co., Ltd.
- GAMELOFT
- Activision Blizzard, Inc.
- Valve Corporation
- Nexon Co., Ltd.
- Electronic Arts Inc.
- Nvidia Computer Game Company
- Sony Corporation
The report provides a detailed analysis of the key players in the global gaming software market. These players have adopted various strategies such as new product launches, collaborations, expansion, joint ventures, agreements and others to increase their market share and maintain their dominance in various regions. The report is valuable in highlighting business performance, operating segments, product portfolio and strategic moves by market players to showcase the competitive scenario.
AVENUE- A subscription-based library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer a cost-effective one-stop solution for companies, investors and universities. With Avenue, subscribers can access a full repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. In addition, users can get online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization and updated versions of reports.
Access the library of reports anytime from any device, anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
Trending reports in the ICT and media industry:
Global Telehealth market is expected to reach $784.3 billion before 2032
The global Commerce Cloud market is expected to reach 138.2 billion dollars before 2032
Global augmented reality market is expected to reach 446.6 billion dollars before 2031
Global Cloud Gaming market is expected to reach $21.95 billion before 2030
Project Portfolio Management (PPM) Market is expected to reach $9.16 billion before 2027
About us:
Allied Market Research (AMR) is a full-service market research and business consultancy by Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global companies as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions”. AMR has a single-minded approach to providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional business relationship with various companies and this helps us to unearth market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasts. CEO of Allied Market Research Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality data and help customers in every possible way to achieve success. Each and every piece of data presented in the reports we have published is extracted through primary interviews with top executives from leading companies in the respective domain. Our secondary data sourcing method includes deep online and offline research and discussion with knowledgeable industry professionals and analysts.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 United States.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
United Kingdom: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research
