Game Development

$335B gaming app market by 2030

Friday, August 26, 2022

The global game applications market was valued at $108.76B USD in 2021. It is projected to reach $335.14B by 2030, growing at a CAGR of 13.32% during the forecast period (2022–2030). The Asia-Pacific region will display a significant growth rate, with China accounting for 32% of the market share.

A game engine is software that is used to generate and develop video games for personal computers, mobile phones, game consoles, and other devices. The automobile industry generates a substantial need for game engines used to develop UI and UX design. Gaming has numerous applications and is especially prevalent in academic and professional domains. The global gaming market is primarily driven by the changing demographics of gamers, the high installation costs of hardware and software, and the growing need for high-speed internet connection.

Game Applications market size is projected to reach $335B USD by 2030, growing at a CAGR of 13.32%: Straits Research

Rapid acceleration of digitization drives the global market

Regarding ease of use, playing video games on a computer or a console is not as good of an option as using gaming apps. The procedure of constructing the game app is significantly streamlined due to the abundance of readily available materials. The social media platforms, such as Facebook and Instagram, are also generating and marketing various distinctive gaming apps with high differentiation. Additionally, these platforms are engaging end consumers with games to boost their advertising strategies.

Rising demand for online gaming through social networking sites creates tremendous opportunities

This could be related to the growing demand for operating systems that are highly safe and capable of multitasking as end-users become increasingly concerned about data security. Increases in the rate of access and the level of user interaction fuel market growth. Cloud storage, the optimal use of batteries, immaculate security, and validated professional advice are all elements that point to the market's substantial growth throughout the forecast period. Europe was responsible for a substantial amount of the overall revenue earned in 2021 because of the increased demand for gaming apps from users in the United Kingdom, France, and Germany. The rising popularity of mobile gaming applications and the availability of a wide variety of gaming options are the key drivers driving growth in the regional industry. The development of gaming applications is getting more accessible and less expensive, leading to the expansion of the business. Moreover, the market expansion would be bolstered by the rising demand for online games on social media platforms.

Report scope

Regional analysis

The Asia-Pacific region will display a significant growth rate, with China accounting for 32% of the market share of game engines and being considered one of the leading developers of game engines worldwide. A sizable consumer market, the rising prevalence of mobile gaming, and the expanding appeal of electronic sports will contribute to the region's expansion. China is often considered to be the gaming capital of the globe. This is mainly attributable to the growing demand for entertainment and the increasing penetration of smartphones in this region.

Key highlights

The global game applications market size was valued at USD 108.76 billion in 2021. It is projected to reach USD 335.14 billion by 2030, growing at a CAGR of 13.32% during the forecast period (2022–2030).
Based on the marketplace, the market is broken down into android, iOS, and other platforms. The android segment held the more significant market share and is anticipated to have a substantial growth rate during the forecast period.
The Asia-Pacific region will display a significant growth rate, with China accounting for 32% of the market share of game engines and being considered one of the leading developers of game engines worldwide.