Video Game Software Market Introduces Subscription-Based Models For Continuous Revenue StreamMay 4, 2022
originally published at Multinationals - Social Gov
The Business Research Company’s Video Game Software Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, April 28, 2022 /EINPresswire.com/ — Games as a Service is a software delivery method where a vendor generally hosts a gaming application in a remote server and customers can access it through the internet, also known as cloud gaming. Many game developers are providing their content through a subscription-based model, and are allowing customers to purchase additional content or features through micro transactions. This includes new in-game items, weapons, clothing, or other gear for the player’s character along with in-game currency and rewards. This business-model provides a continuous revenue stream for the gaming companies instead of limiting the revenues to one-time purchases. Major companies providing games as a service include Activision and Blizzard Entertainment.
Read more on the Global Video Game Software Market Report
The global video game software market size is expected to grow from $197.54 billion in 2021 to $226.97 billion in 2022 at a compound annual growth rate (CAGR) of 14.9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The video game software market is expected to reach $380.06 billion in 2026 at a CAGR of 13.8%.
The video game software market growth is mainly driven by rapid growth in emerging markets in the forecasted period. The International Monetary Fund (IMF)stated that the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period.
Major players covered in the global video game software industry are Microsoft, Tencent Holdings Co Ltd, Nintendo Co ltd, Sony Corp, Netease Inc., Electronic Arts, Google, Financière de l’Odet, Take-Two Interactive and Bandai Namco Holdings Inc.
TBRC’s global video game software market analysis report is segmented by type into PC games, browser games, smart phone/tablet games, console games, by genre into action, adventure, role playing, simulation, strategy, sports, others, by end-user sex into male, female.
Video Game Software Global Market Report 2022 – By Type (PC Games, Browser Games, Smart Phone/Tablet Games, Console Games), By Genre (Action, Adventure, Role Playing, Simulation, Strategy, Sports), By End User Sex (Male, Female) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a video game software market overview, forecast video game software market size and growth for the whole market, video game software market segments, geographies, video game software market trends, video game software market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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originally published at Multinationals - Social Gov