PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215317
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215317
Global Game Engines Market is valued at approximately USD 2.14 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 16.76% over the forecast period 2022-2029. A game engine is a software system that is primarily intended for the creation of video games and usually incorporates supporting programs and essential libraries. The market growth is majorly driven by the factors such as the rising development of 3D mobile games, increasing technological advancements in video games, and growing focus on the development of gaming hardware.
The growth of the video gaming market is exhibiting a positive influence on the growth of the market. According to Statista, in 2020, the global video game was estimated to value at around USD 155.89 billion. Also, it is anticipated that the market flourishingly grows and reach USD 268.81 billion by 2025. Accordingly, the rising demand for video games among the population is fostering the market demand at a significant rate. Moreover, the rising introduction of technologically advanced products, as well as the growing trend of cloud gaming are presenting various lucrative opportunities over the forecasting years. However, the high system requirements and cross-compatibility barriers are challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Game Engines Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increasing penetration of mobile platforms, along with the growing trend towards playing and creating video games. Whereas, the Rest of the World is also expected to grow with the highest CAGR during the forecast period, owing to factors such as surging investment and demand in locally developing video games and the active participation of key players in the market space.
Recent Developments in the Market:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable