Video Game Software Global Market Report 2021-COVID-19 Impact And Recovery

The Business Research Company’s Video Game Software Global Market Report – By Type, By Genre, COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, February 14, 2022 /EINPresswire.com/ -- The restrictive containment measures introduced as a result of the COVID-19 pandemic, including remote working and local lockdowns, had a positive impact on the global video games industry which has burgeoned in size and is expected to hit $200 billion this year.

The industry is now the focus of a number of takeover deals with some of the world’s biggest companies acquiring games developers across the globe. Recently Sony, with an 8% share of the global market, according to data on the Global Market Model, agreed to pay $3.6 billion for Bungie, the developer of Destiny. That came soon after the $69 billion takeover of Activision Blizzard by Microsoft, makers of the Xbox with a 10% market share, and the $13 billion deal by Take-Two Interactive, with around 2% of the market, to buy Zynga and bring it into the same stable as Grand Theft Auto. In the UK, China’s Tencent, with a 9% global share, has just completed the $1.27 million purchase of Sumo Group, while last year US domiciled Electronic Arts, with a 3% global share, spent similar amounts on Codemasters and Playdemic which it bought from Warner Bros.

The video game software market consists of sales of video game software by entities that produce video game software, including businesses that are involved in design, documentation, installation and support services, producing and distributing video games.

As per data on the Global Market Model, the global video game software market size grew from $168.8 billion in 2020 to $177.2 billion in 2021 at a compound annual growth rate (CAGR) of 5% and is expected to hit the $200 billion mark in 2022. This market is expected to surge upwards reaching $304.9 billion in 2026, representing a 50% increase in market size over 2022.

The video gaming market has benefited somewhat from lockdowns imposed, as people looked for entertainment and new experiences within their own homes. Video games offered many people the escapism and a form of relaxation they needed in the midst of the pandemic, as well the social factors that come from being able to connect with other gamers online.

Not surprisingly, given the location of a number of the key players in the industry, Asia Pacific is the largest region at around 51% of the global Video Game Software market followed by North America in second position with 23% and Western Europe approaching 16%. Africa is the smallest region with only around 2% of the market.

Video Game Software Global Market Report 2021 - By Type, By Genre, COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides video game software market overviews, analyzes and forecasts video game software market size, share, video game software market players, video game software market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

Here are some related reports:

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https://www.thebusinessresearchcompany.com/report/browser-games-market

PC Games Market – By Type, By Type Of Genre, And By Region, Opportunities And Strategies – Global Forecast To 2030
https://www.thebusinessresearchcompany.com/report/pc-games-market

Smart Phone/Tablet Games Global Market Report 2021 – By Game Type, By Application, By Device, COVID-19 Impact And Recovery
https://www.thebusinessresearchcompany.com/report/smart-phone-tablet-games-global-market-report

About The Global Market Model
The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

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Sources:
Sunday Times Business February 6th, 2022: ‘Why do our games stars sell so soon’?

The Business Research Company’s Video Game Software Global Market Report 2021 - By Type, By Genre, COVID-19 Impact And Recovery
https://www.thebusinessresearchcompany.com/report/video-game-software-global-market-report

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
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