Growing integration of smartphones and increasing number of digital platforms are expected to drive the growth of Global Software Gaming Market by 2026.
According to TechSci Research report, “Global Gaming Software Market by Device Type (Smartphones, Tablets, PC Gaming Consoles and Handheld Games), By Type (Action, Adventure, Stimulation, Roleplaying, Sports, Puzzles and Others), By Distribution Channel (Online, Offline), By End Use (Entertainment, Education and Others), By Region, By Company, Forecast & Opportunities, 2026”, Global Gaming Software Market was valued at USD88.51 billion in 2020 and is projected to grow at a CAGR of around 10.81% during the forecast period, owing to the rise in the applications of smartphones, growing adoption of digital distribution, growing demands for various applications in the entertainment and education sector after COVID-19 pandemic. Additionally, the popularity of the content creators and live streaming is also expected to drive the market. To meet the education and entertainment demands across the globe, the software gaming proves to be a boon for both the sectors. However, the high subscription charges and violent video gaming is likely to hamper the market growth during the forecast period. Additionally, reputation management and unionization can further restrict the growth of the market.
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Global Gaming Software Market is segmented based on type, gaming device type, end use, region, distribution channel, and company. Based on region, the market can be fragmented into Asia Pacific, Europe, North America, South America, and Middle East & Africa. Asia Pacific contributes the highest share of 48.54% in the market and is expected to grow at a significant pace on account of its high technological investments and new user engagement.
Based on end use, the market can be divided into entertainment, education, and others. The entertainment segment dominates the market with a share of 48.94% in 2020, primarily due to increasing number of smartphones and gaming software users, etc., as software games are highly relied upon when it comes to entertainment.
Based on gaming device type, the market can be split up into smartphones, PC, gaming consoles, handheld games, and tablets. The smartphones segment dominates the market with a share of 33.05% in 2020 due to increase in the demand for mobile devices.
Based on game type, the market can be apportioned into action, adventure, stimulation, role playing, puzzles and others. The action segment dominates the market with a share of 25.79% in 2020 as they are beneficial for physical, psychological, and social activities and help in improving the perceptual decision-making qualities among users.
Based on gaming channel type, the market can be divided into online and offline. The online segment dominates the market with a share of 53.75 in 2020 as players find them more exciting due to the option of choosing unlimited number of players across the globe.
Disney Interactive Studios, Inc., Electronic Arts, Inc., Tencent Holding Ltd., Ubisoft Entertainment SA, Google LLC, NCSoft Corporation, Nexon Co. Ltd., Nintendo Co, Ltd., Electronic Arts, Inc., Valve Corporation are some of the leading players operating in the Global Gaming Software Market. These companies are launching high interactive and user-friendly gaming software. The companies operating in the market are using organic strategies such as new product launches and collaborations to boost their shares.
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“Global Gaming Software Market is anticipated to grow at a tremendous pace during the forecast period due to the increasing smartphone growth, new customer engagement, need of software games in the fields education and entertainment, and the growing adoption for digital distribution”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Gaming Software Market by Device Type (Smartphones, Tablets, PC Gaming Consoles and Handheld Games), By Type (Action, Adventure, Stimulation, Roleplaying, Sports, Puzzles and Others), By Distribution Channel (Online, Offline), By End Use (Entertainment, Education and Others), By Region, By Company, Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Gaming Software Market and provides statistics and information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Software Gaming Market.
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