The Business Research Company’s Video Game Software Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, January 21, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Video game software developers are increasingly providing streaming video game services to take advantage of emerging 5G and cloud computing technologies. Several countries have already adopted 5G, which has greatly improved internet speed. This will increase the number of downloads and streaming of games. This came into great use in the lockdowns and quarantine periods during the COVID-19 pandemic. Streaming allows for continuously playing the latest version of the game, without having to update the game at all. Cloud computing and fast internet speeds in the gaming industry will enable users to play games from any computer and will also increase accessibility. For example, in August 2019, Hatch Premium launched its unlimited mobile cloud gaming on the 5G networks of Sprint, a telecommunications company based in the United States. It allows games to be streamed via the cloud to mobile devices. The games include Monument Valley, Beach Buggy Racing, and Angry Birds Go.
Major players in the video game industry are Sony, Activision Blizzard, Microsoft, EA, and Nintendo.
The global video game software market size is expected to grow from $168.78 billion in 2020 to $177.17 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth 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. According to video game software market analysis, the market is expected to reach $277.95 billion in 2025 at a CAGR of 12%.
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