Global Video Game Software Market Growth Analysis Forecast 2024 - 2033

The video game software market has seen rapid growth recently, increasing from $248.29 billion in 2023 to $277.54 billion in 2024, with a compound annual growth rate (CAGR) of 11.8%. This growth is driven by in-game purchases and freemiums, live streamers and gaming influencers, a rise in smartphone users, and increasing disposable income. The market is projected to continue its rapid expansion, reaching $446.78 billion in 2028 at a CAGR of 12.6%. This anticipated growth is driven by increased internet usage, a shift toward digital games, cross-platform publishing and play, technologically advanced platforms, and greater gamer involvement. Major trends in the forecast period include integrating augmented reality (AR) and virtual reality (VR) technologies, focusing on in-game advertising, providing free access to games with certain features in paid versions, offering cloud-based game services with pay-per-usage models, offering streaming video game services, and investing in the development and updating of software compatible with the latest gaming consoles.