In terms of revenue, the Global Cloud Gaming Market is expected to reach USD 12.6 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 42.50% from 2022 to 2028.
The rapid surge in a console applications and increasing demand for video games in the young population is likely to boost the growth of the Cloud Gaming Market in recent days. In addition, increasing initiatives taken by various industry players because of their ease of operation and cost benefits are expected to witness maximum growth for the Cloud Gaming Market over the projected time period.
Key Highlights from Report:
· The Gaming Console segment is likely to hold the growth of the Cloud Gaming Market in 2021. This growth is accounted owing to the less popularity of computer gaming over time. In addition, these devices are easily affordable and low in price which is the reason for the segmental growth of the Cloud Gaming Market.
· The Video Streaming segment is anticipated to grow at the highest rate during the forecast period. Video streaming is becoming increasingly popular since it eliminates the need for additional hardware devices. As a result, companies have expanded their attention to developing systems that deliver a better gaming experience, propelling the worldwide Cloud Gaming industry.
· North America is accounted to have the largest growth of the Cloud Gaming Market during the forecast period. The increasing economic and gaming population is the main reason for the regional growth of the Cloud Gaming Market.
Increasing technological advancement and rising investment of leading manufacturers in their strategic development are some key parameters contributing to the growth of the Cloud Gaming Market in coming years. In addition, the leading companies are focusing more on creating new online gaming solutions to advance the gaming experience, which in turn, is expected to propel the growth of the Cloud Gaming Market in projected years. For instance, NVIDIA Corporation, an American multinational technology company, teamed up with Electronic Arts Inc., an American video game company, to increase the game portfolio on GeForce NOW's gaming platform.
North America is anticipated to have potential growth in the Cloud Gaming Market in 2021.The increasing online gaming solutions demand, increase in adoption of cloud technologies, and the sufficient availability of internet infrastructure are some factors projected to fuel the development of the Cloud Gaming regional market during the forecast period. In addition, the increasing gaming population in this region is also expected to bolster the growth of the Cloud Gaming Market during the forecast period.
The Global Cloud Gaming Market is Segmented as follows:
- Gaming Platform Service
- Device Type
- Smart Phones
- Gaming Consoles
- PC & Laptops
- Smart TVs
- Video Streaming
- File Streaming
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Cloud Gaming Market is:
Amazon Luna, Blacknut, Google LLC, Microsoft Corporation, Nvidia Corporation, Shadow, Sony Group Corporation, Tencent, Ubitus K.K., Vortex
The Global Cloud Gaming Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|