4/26/2023 0 Comments Rise of industry free download iggCompanies in this industry undertake operations such as the design, development, publication, distribution, and monetization of video game software on various platforms including PC, browser, smart phone, tablet, and console.Ī video game is a computerized game that can be played on devices such as personal computers (PCs), mobile phones or gaming consoles. Video games are generally categorized into computer games (PC games), browser games, mobile games and console games. 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. Growth in the historic period resulted from in-game purchases and freemiums, live streamers and gaming influencers, rise in smart phone users and rise in disposable income. ![]() Factor that negatively affected growth in the historic period was stringent regulations. Going forward, increasing use of internet, shifting preference towards digital games, cross-platform publishing and play, technologically advanced platforms, and increasing gamers involvement will drive the growth. Factors that could hinder the growth of the video game software market in the future include growing privacy concerns, regulatory restrictions to curb pc games addiction, global recession, age-based restrictions and COVID-19 pandemic. The key drivers of the video games software market include:Ĭross-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. For instance, some games in the RPGs series Monster Hunter are cross-platform games between Nintendo’s platforms such as the 3DS, Wii U and the Switch. The increase in cross-platform gaming can be attributed to the development of scripting languages, software libraries and game engines allowing PC games companies to efficiently use platform-specific details of the users. #RISE OF INDUSTRY TORRENT IGG ANDROID#įor instance, Microsoft is expanding Xbox Live’s cross-platforms from 400 million to over 2 billion to include iOS, Android and Switch in 2019. The key restraints on the video game software market include: Flexibility offered by the cross-platform publishing and play games will drive the market for video game software in the forecast period. ![]() ![]() Rising privacy concerns are expected to limit the growth of the video game software market in the forecast period. The video games market is facing increased privacy concerns due to the importance of the use of players’ locations in massively multiplayer online role-playing games?(MMORPGs) and the development of virtual and augmented reality-based games.
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