Game Applications Industry Overview
The global game applications market size was valued at USD 100.36 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 13.3% from 2022 to 2028.
With increasing digitalization, the penetration of smartphones with advanced hardware capabilities has also been increasing over the last couple of years. In addition, there are very few entry barriers to this market. Gaming apps are the best alternative to video games and computer games considering convenience. Using the availability of resources, the development of the gaming app is less complex. Social media platforms, such as Facebook and Instagram, are also developing and offering a number of innovative gaming apps with a high level of differentiation and engaging end-users with games to enhance the advertising strategies.
Gather more insights about the market drivers, restrains and growth of the Global Game Applications Market
During the pandemic, the governments of various countries restricted physical movements as a precautionary measure. Enterprises allowed employees to work from home due to the pandemic and government restrictions. As most countries globally were under lockdown, to control the spread of the virus, it was observed that there is a significant growth in the usage of digital entertainment, including mobile games.
Key players have observed a steady growth in downloads of mobile games during the pandemic. The increasing availability of high-speed internet connections, especially in emerging economies, has made online gaming practical for more people in recent years. Apart from communication purposes, smartphones are also used for online games, internet surfing, or browsing, which drives the market further. The advancement of smartphone technology, in terms of hardware and software, has led to the growth of gaming apps. Moreover, these apps provide opportunities to explore favorite digital worlds. Understanding the needs of end-users, developers produce user-friendly app interfaces.
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Key Companies Profile
Some prominent players in the global game applications market include:
- Tencent
- Nintendo
- Activision Blizzard
- Ubisoft
- Electronic Arts Inc.
- Take-Two Interactive Software, Inc.
- Bethesda Softworks LLC
- Zynga
- Epic Games, Inc.
- NetEase, Inc.
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