Global Game Development Software Market

While the impact of Covid-19 impacted a lot of industries worldwide, the global game development software market still managed to display remarkable potential and growth. The lockdown restrictions imposed forced people to indulge in various indoor activities including gaming. This shift towards online mobile gaming proved to be a deciding factor in the unsurmountable growth of the game development market. Several game development companies noticed the boom of gaming and started to release their own free games for the public. As a result, the number of hours and screen time of users playing video games increased significantly. 

However, the pandemic also had a negative impact on the growth of the software development market. Many product launches were postponed and the supply chains were also disrupted due to the temporary suspension of manufacturing facilities all around the world. But, the gaming industry still managed to flourish in the dire circumstances of the pandemic. The growth and potential of the global game development software market are evident from these facts. 

This blog will shed light on the growth and upcoming trends of the game development market and how the industry is segmented. 

Game Development Software Market Overview

• According to a study by Grand View Research, the global game market size was valued at $195.6 billion in 2021. It is expected to grow at a CAGR of 12.8% during the forecast period(2022-2030). The projected value of the global game development market is $583.6 billion by the year 2030. 

Get Free Mobile Game Demo

We have a team of experts who can help you in app web & software development

Let’s Connect Here

• Advancements in technology and constant innovations in both hardware and software are expected to drive market growth during the forecast period. 

• Easy access to the internet, widespread use of the internet, easy availability of games on various platforms, and the rise of online gaming are also factors that will contribute to the majority of the market growth.

• Game genres like massively multiplayer online games(MMOs) and Free2play (F2P) games are preferred by users. Moreover, the popularity of real-money games(RMG) is also skyrocketing. As a result, game developers are focusing on the efficiency and compatibility of the hardware. 

• Consumer preferences and the rise of disposable income across the globe are the key factors for advanced gaming consoles and cross-platform gaming. 

• The popularity of esports tournaments and the increasing number of professional gamers are also majorly influencing the sales of video games and accessories. 

Segmentation Analysis of the Global Game Development Software Market

The global game development software market can be categorised into the following segments- device, type, regional, and market share. Let’s break down the facts and statistics of the various segments of the game development market. 

Device Segmentation

Mobile Gaming

• Mobile gaming has been one of the fastest-growing segments in the game development market. The mobile gaming segment dominated the industry with a market share of over 40%. 

• The growth can be attributed to the increased smartphone penetration across the globe. 

• Innovations and developments in hardware and mobile game development software are also major driving forces behind the popularity of mobile gaming. 

• The popularity of mobile tablets that offer a larger screen and offering an overall better gaming experience are also major factors in the growth of mobile gaming. 

• Gaming software for mobile is also leveraging the power of advanced technologies like AR/VR, AI, and ML.

• Emerging technologies such as Metaverse are also facilitating the development of Metaverse game development software which will be an important factor for the growth of the mobile segment during the forecast period. 

Consoles

• The console segment is also expected to display massive growth during the forecast period. 

• Features such as high-end displays and surround sound that enhance the gaming experience are also important factors that drive the growth of the console segment. 

• The development trends in the console segment such as in-game recording and sharing, and dynamic simulation will also play a major role in the growth of the console segment. 

Gaming Engines

• The game-engine segment will be responsible for a major share of the market growth during the forecast period. 

• Unity game development software which is developed by Unity Technologies offers efficient features that allow for easy development and curb the game development cost. Moreover, features like cross-platform game development and the rising demand for game engines will also drive market growth. 

Type Segmentation

• The type segmentation is divided into online and offline gaming. In 2021, the offline segment flourished in the market with a share of over 62%. 

• The online segment is expected to grow at a higher compound annual growth rate during the forecast period(2022-2030). 

• The popularity of online multiplayer games is a major driving force behind the growth of the online segment. 

• Social networking websites are also proving beneficial in providing a platform for online video games, thus influencing growth. 

• Smartphone penetration and innovations in cloud gaming are also majorly contributing to the online gaming segment. 

• Tech giants are also developing high-end consoles to meet the demands of users and capitalize on the opportunities provided by the surge in online gaming.

Region Segmentation

In terms of region, the global game development software market can be categorized into North America, Europe, South America, the Middle East and Africa, and Asia-Pacific. 

Asia Pacific

• In 2021, the Asia-Pacific region dominated the market with a share of over 53%. 

• China becoming a major gaming hub in the region is one of the major factors that contributed to the growth of the region. 

• Tencent Holdings Limited of China is the largest key player in the global game development software market. The company acquired tech giants like Riot Games and Supercell Oy which they have been pursuing aggressively for a while. 

• The growing numbers of online gamers and the popularity of online gaming tournaments have urged popular game development software companies to develop platforms where gamers can access AAA games with ease. 

• Tencent partnered with NVIDIA to develop START- a cloud gaming service that offers AAA games on low-end devices. 

• South Korea and India are also emerging players in the region that will contribute significantly to the growth of the market. 

North America

• The North American region is expected to amount for a majority of the market share during the forecast period(2022-2030). 

• The growth in the market can be largely attributed to the presence of the most popular game development software companies and the demand for AR/VR games. 

• After NA, Europe is expected to be the second-largest market contributor for game development software during the forecast period. 

Key Factors Driving Growth in Global Game Development Software Market

Let’s take a look at the key factors that are responsible for the growth of the global game development software market. 

• Along with mobile gaming, the rising demands for PC and console gaming are an important driving force behind the growth of the market. 

• Popular gaming consoles including PlayStation and Xbox are the driving force behind the development of modern gaming consoles. 

• In 2022, PC and console games contributed to more than 50% of the global gaming market share. 

• The rising demand for PC and Console games will lead to an increase in the demand for reliable and popular game development software. 

• Game Development software trends such as AR/VR, NFT, and Metaverse have urged various game development software companies to adopt business strategies involving these advanced technologies. 

• Facebook acquired the Virtual reality company BigBoxVR in June 2021. This acquisition will also be a major driving force behind the development and launch of high-quality VR games during the forecast period. 

• The rising popularity of the Metaverse and the growing demand for an open-world virtual reality is also forcing game development companies to leverage the power of this advanced technology. It is estimated that the Metaverse will be a core factor in the growth of the industry in the near future. 

• Technologies like NFTs and cryptocurrencies are booming. The rise in the adoption of these technologies and constant innovations in the field will be beneficial for the industry. 

Final Words

Being one of the fastest-growing industries in the world, the global game development software market will be one of the most promising industries in the near future. Constant innovations and development in the market are the driving force behind the widespread popularity of the industry. The upcoming trends are focusing on advanced technologies and the rising demand for popular game development software is urging game developers to come up with innovative approaches while developing high-end game titles. 

Quick Contact Us : 

Call/WhatsApp: +1-650-727-6690, +91-998-220-1414

Skype: bdm.br

Email: nitin@brsoftech.com

Frequently Asked Questions