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Cloud Gaming Market reached USD 301 million in 2019, and is projected to grow at a robust CAGR of 58.5% during forecast period till 2027. The increasing prominence of cloud gaming and the presence of better cross-platform gameplay, which enhances the gaming experience, is projected to steer the market growth.
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Introduction of the Cloud Gaming Market
Cloud gaming refers to the method of playing video games via distant servers in the data centers. In cloud gaming, there is no need to install or download games on a PC or console. Cloud gaming also offers an incorporated gaming experience on smart devices that enables users to view another game through live video streaming. It intends to provide an effortless and direct game-playing experience to the end-users across several devices.
Key Players of the Market:
• NIVIDA Corporation
• Google
• Microsoft
• Intel Corporation
• SONY
• IBM
• Advanced Micro Devices, Inc.
• Tencent
Cloud gaming is an evolving technology across the gaming industry, enabling the user to stream high-end games across mobile devices, such as tablets, laptops, and mobile, with fast network connectivity, thereby eradicating the need for a regular hardware upgrade gaming console. Thus, the growing prominence of cloud gaming will strengthen the growth of the global cloud gaming market. Further, the accelerating seepage of the internet and the convenient availability of games on the cloud have propelled the cloud gaming market share. The advent of cloud gaming has eliminated the need for hardware upgrades, and players will be able to play cloud games on their existing devices. Moreover, cloud gaming offers a reduction of data storage and easy availability to all users.
The penetration of smartphones will further drive market growth. Smartphone developers are, thus, emphasizing developing gaming smartphones to offer a better gaming experience to gamers. For example, Vivo Mobile Communication Co., Ltd., in 2020, developed a gaming smartphone known as Iqoo3. This latest smartphone is incorporated with a Snapdragon 865 processor and 5G capabilities to offer gamers a flawless and enhanced gaming experience. Also, with the continuous development in network infrastructure, such as the evolution of 5G to offer higher intermission, the demand for cloud gaming has substantially grown. The key social networking companies are adopting or affiliating with several cloud games on their social media platforms. Facebook, Inc., in 2019, procured Playgiga with an intention to launch cloud gaming services on its platform to enhance user engagement. Simultaneously, the emerging tendency of social media games is projected to fuel the market.
By device type, the smartphones segment is anticipated to expand at a faster rate over the forecast period. The proliferation in the mobile gaming industry has raised the trend of playing games on smartphones. The streaming of cloud games is more economical than the costs involved in the improvement of the PCs and consoles to support the game performance.
The gaming platform services segment is anticipated to seize a higher growth over the forecast period. The increasing demand for content and PC services has bolstered the market growth. Cloud gaming allow gamers to play games on any nearby device instead of procuring costly hardware. Some prominent companies offering gaming platform services are Blackout, Sony’s PlayStation, GeForce NO, and Blade’s Shadow.
The video streaming is projected to expand at a faster rate during the forecast period based on the solution type. The growing demand for game streaming without the need to download or upgrade any game has propelled the cloud gaming market size. Video streaming provides gamers to play games from any place or platform.
Based on regional coverage, the Asia-Pacific nation is expected to experience notable growth over the coming years. The growing penetration of smartphones and entertainment has driven the market share. Moreover, the major players in the market are emphasizing entering into a contract with cloud game service providers to launch cloud gaming services. Alibaba Cloud, in 2019, got into a partnership with Ubitus Inc. to launch a cloud gaming solution on the Alibaba cloud platform.
Segmentation by Offering
• Infrastructure
• Gaming Platform Services
Segmentation by Device Type
• Smartphones
• Tablets
• Gaming Consoles
• Personal Computers & Laptops
• Smart Televisions
• Head-Mounted Displays
Segmentation by Solution Type
• Video Streaming
• File Streaming
Segmentation by Gamer Type
• Casual Gamers
• Avid Gamers
• Hardcore Gamers
Segmentation by Region:
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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