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Follow UsDUBLIN, IRELAND: Research and Markets has announced the addition of the "Global Gaming Software Market 2012-2016" report to their offering.
The analysts forecast the Global Game Software market to grow at a CAGR of 10.04 percent over the period 2012-2016. One of the key factors contributing to this market growth is the innovation in audio-visual devices.
The Global Game Software market has also been witnessing the increasing number of hardware platforms. However, the shifting of consumers to alternative gaming platforms could pose a challenge to the growth of this market.
The key vendors dominating this market space are Activision Blizzard Inc., Electronic Arts Inc., Konami Corp., and Take-Two Interactive Software Inc.
Other vendors mentioned in the report are Microsoft Corp., Nintendo Co. Ltd., Sony Computer Entertainment Inc., and Walt Disney Co.
Commenting on the report, an analyst from the team said: The majority of software games developed caters to the hardware platforms developed by three major companies: Sony, Microsoft, and Nintendo. These companies develop platforms such as Xbox 360, PlayStation 3, Wii U for the game software. These are multifunctional gaming consoles which not only support various games, but also enable gamers to watch videos, listen to music, browse the internet, and download videos.
The success of the game software business is directly proportional to the acceptance of platforms by customers. As the number of platforms being developed is increasing, the demand for game software is also increasing, and this is expected to lead to the growth of the market during the forecast period.
According to the report, the growth of the Global Gaming Software market is supported by several drivers, one of the major drivers being the increasing innovation of audio-visual devices. This has provided the latest games software with favorable platforms to run and has improved player satisfaction by providing them with a new experience. This increases the interest of the players and drives them to purchase more gaming software which, in turn, is helping with market growth.