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.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
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.
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.
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.
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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
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Segmentation based on Solution
- Video Streaming
- File Streaming
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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