Game Engines Market to Reach $11.4 Billion, Globally, by 2032 at 17.1% CAGR: Allied Market Research
NEW CASTLE, Delaware, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Game Engines Market by Component (Solution, and Services), Type (2D Game Engines, 3D Game Engines, and Others), Platform (Mobile, Console, Computer, and Others), and Genre (Action & Adventure, Multiplayer Online Battle Arena (MOBA), Real-Time Strategy (RTS), Role-Playing Games (RPG, ARPG, CRPG, MMORPG, TRPG, etc.), sandbox, shooter (FPS & TPS), Simulation and Sports, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the game engines market was valued at $2.8 billion in 2023, and is estimated to reach $11.4 billion by 2032, growing at a CAGR of 17.1% from 2024 to 2032.
Prime determinants of growth
The global game engines market is growing due to several factors such as growing number of game development schools and courses, advancement in technologies and the growing popularity of esports and online gaming. However, high cost of game engine software act as restraints for the game engines market. In addition, growing integration of augmented and virtual reality technologies will provide ample opportunities for the market's development during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $2.8 Billion |
| Market Size in 2032 | $11.4 Billion |
| CAGR | 17.10% |
| No. of Pages in Report | 400 |
| Segments Covered | Component, Type, Platform, Genre and Region. |
| Drivers |
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| Opportunities |
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| Restraint |
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The solution segment held the highest market share in 2023
Based on component, the solution segment held the highest market share in 2023. This is due to the growing popularity of multi-user game applications in professional gaming tournaments like the Counter-Strike: Global Offensive Major Championships, eSports World Convention, Evolution Championship Series, and others.
The 3D game engine segment held the highest market share in 2023
Based on type, the 3D game engine segment held the highest market share in 2023, owing to the high visual quality, asset store management, intriguing gameplay, and intuitive design. The segment's proportion has increased due to rising demand for high-quality, immersive gaming experiences. With the emergence of virtual and augmented reality, game creators require strong tools to build immersive and realistic landscapes that completely engage players.
The mobile segment held the highest market share in 2023
Based on platform, the mobile segment held the highest market share in 2023. Gaming on platforms such as iOS and Android requires a platform that is performance-optimized and can function smoothly on a broad range of devices, which come in a variety of shapes, sizes, and hardware combinations.
The action and adventure segment held the highest market share in 2023
Based on genre, action and adventure segment held the highest market share in 2023. These games enable players to explore enormous virtual settings and interact with a variety of characters and objects. The popularity of open-world games has been driven by the growing capacity of gaming consoles and computers, which can handle the sophisticated visuals and physics necessary for open-world games.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, and is expected to rule the roost in terms of revenue throughout the forecast timeframe. With the increasing adoption of digital technologies in the gaming sector, the market is expected to expand significantly in the coming years.
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Major Industry Players: -
- Buildbox
- ClickTeam
- Cocos
- Crytek GmbH
- GameSalad
- Marmalade Technologies Ltd.
- Phaser (Photon Storm Ltd.)
- RPG Maker
- Scirra Ltd. (Construct 3)
- Stencyl LLC
The report provides a detailed analysis of these key players in the global game engines market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Industry Development:
- On March 2024, Microsoft released the latest version of its Agility SDK, packed with innovative graphics features that will be showcased at the Game Developers Conference (GDC) 2024. The SDK 1.613.0 introduces Work Graphs, Shader Model 6.8, GPU Upload Heaps, and several other enhancements aimed at empowering game developers to create more efficient, flexible, and creative experiences.
- On February 2024, Unity launched tools for visionOS, Apple’s new operating system for its Vision Pro spatial computing headset. The support will allow developers to use Unity’s development tools and workflow to build immersive experiences for the Vision Pro.
- On January 2024, Apple launched Xcode 15.2, a major update that paves the way for the upcoming Vision Pro headset set. The new Xcode version introduces support for the Vision Pro headset through the integration of the visionOS SDK, opening up opportunities for developers to craft immersive visionOS apps tailored for this cutting-edge device.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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