The “Cloud Gaming Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Cloud Gaming Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global cloud gaming market revenue was US$ 383 million in 2021. The global cloud gaming market revenue is forecast to reach US$ 21,954 million by 2030, growing at a compound annual growth rate (CAGR) of 57.4% during the forecast period from 2022-2030.
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The cloud gaming industry, also referred to as gaming on demand, is a form of web gaming that allows users to stream games directly onto their personal computers, mobile devices, or consoles. Through the use of a remote connection, a third-party organization with the game’s software stored on its server can provide access to the game. It allows users to play games online without downloading or purchasing the software. The user can also view another player’s game through live video streaming through cloud gaming experiences on smart devices. It aims to provide end-users with a smooth and direct gaming experience on a variety of different devices.
Factors Influencing Market Growth
The global cloud gaming market is experiencing growth due to the growing audience for mobile gaming and the digitalization of gaming technology.
The benefits of cloud gaming include constant updates and backups. It also eliminates the necessity of keeping physical copies of the software, thereby reducing the overall cost of gaming. In addition, cloud gaming reduces data storage and makes gaming more accessible to users. These factors have all influenced cloud gaming’s market growing popularity.
Enhanced network connectivity, instant play, and game installation-free gaming on almost any operating system and device, including Android, Linux, Mac, iOS, and Chrome OS, have catalyzed the global cloud gaming market growth.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Cloud Gaming Market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a positive impact on the cloud gaming market. With the majority of the populace quarantined at home due to the pandemic, search engines offered a wide range of interactive games on their home page. For example, Google released a series of cloud-based doodles in April 2020 based on its past games. The increasing demand for entertainment during the quarantine period boosted the global market growth. Cloud gaming vendors encouraged social distancing while promoting cloud gaming. In April 2020, Google, Inc. removed the entry fee for its Stadia cloud gaming service, making video games available for free.
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Regional Insights
The Asia Pacific region dominates the cloud gaming market. As smartphone penetration increases and entertainment demand increases, the market is forecast to continue growing. Several cloud service providers are partnering with cloud gaming service providers in the region to launch cloud gaming services. Thus, these factors are promoting the growth of the cloud gaming market in the region.
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
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Leading Competitors
The leading prominent companies profiled in the global cloud gaming market are:
Amazon Luna
Blacknut
Google LLC
Microsoft Corporation
NVIDIA Corporation
Shadow.tech
Sony Group Corporation
Tencent
Ubitus K.K.
Vortex (RemoteMyApp Sp. z o. o.)
Other Prominent Players
Scope of the Report
The global cloud gaming market segmentation focuses on Offering, Device Type, Gamer Type, Solution, and Region.
Segmentation based on Offering
Infrastructure
Compute
Memory
Storage
Gaming Platform Services
Content Services
PC Services
Segmentation based on Device Type
Smartphones
Tablets
Gaming Consoles
PCs & Laptops
Smart TVs
HMDs
Segmentation based on Gamer Type
Casual Gamers
Avid Gamers
Hardcore Gamers
Segmentation based on Solution
Video Streaming
File Streaming
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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