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Market Research Future Insights:
Cloud Gaming Market reached USD 301 million in 2019 and it is estimated to Reach at USD 22.53 Billion with 58.75% CAGR by 2030. The increasing prominence of Cloud gaming Market and the presence of better cross-platform gameplay, which enhances the gaming experience, is projected to steer the market growth. One of the key factors propelling the expansion of the global cloud gaming industry is the desire for low latency, creative, and beautiful gaming environments. Gamers also want faultless gameplay without the need for any additional hardware setup. To give gamers with a 5G cloud gaming experience worldwide, numerous industry participants and telecom service providers are working hard to build alliances and partnerships. The potential for the growth of the cloud gaming industry is increased by the global rollout of low-cost internet plans and the investments made in 5G technology projects.
The desire for low latency, inventive, and spectacular gaming environments is one of the main drivers of the growth of the worldwide cloud gaming market. Additionally, flawless gameplay without the need for any additional hardware setup is what gamers desire. The arrival of 5G Technology, the lessening of technological hurdles, and the high cost are further factors. Additionally, a lot of industry participants and telecom service providers are working hard to form alliances and partnerships in order to offer gamers everywhere a 5G cloud gaming experience.
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Cloud Gaming Market Report Scope:
|
Parameter |
Details |
|
Revenue Forecast in 2030: |
USD 22.53 Billion |
|
Growth Rate: |
CAGR of 58.75% from 2022 to 2030 |
|
Forecast Period: |
2022 -2030 |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Key Players:
Regional Analysis:
The five geographical divisions of the cloud gaming market are Europe, North America, Asia-Pacific, the Middle East, Africa, and Latin America. The Asia-Pacific area dominates the industry because countries like China, Japan, India, and South Korea have a high need for gaming content. The Asia-Pacific area earned the biggest revenue share in 2021, close to 45.0%, and it is anticipated that this proportion will increase during the projected period. In North America and Europe, it is projected that the market share for cloud gaming would increase dramatically. The early acceptance of cloud technology, the high penetration of suitable internet infrastructure, and the rising potential from partnerships, acquisitions, and investments are the main factors driving market expansion in North America and Europe. Latin America is expected to grow at a CAGR of approximately 40% during the projection period.
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Cloud Gaming Market Segmentation:
Segmentation by Type
Segmentation by Gamer System
Segmentation by Deployment
Segmentation by End User
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Industry News
With the rise in Cloud gaming users, several related companies perform high capital investments to increase the global market size. Listed below are some of the latest developments in the Cloud Gaming Market.
Ubitus Inc. collaborates with Intel Corporation in November 2020 and has announced a new cloud gaming solution for Android. The solution is based on Intel Server GPU, which aids in smoother and more advanced gaming performance.
Tencent collaborated with Intel Corporation in November 2020. This collaboration intends to deploy the new cloud-based gaming platform named GAmeMAtrix. As part of the collaboration, the company offers more than 100 famous games facilitated by Tencent’s high-density and low-powered gaming solution.
Objectives of the Report
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