Summary

Global Cloud Gaming Market is expected to grow at a significant rate of around 43% during the forecast period. Cloud gaming refers to a type of onlline gaming where the game runs on a remote server and is streamed to the player's device over the internet, rather than being run on the player's local hardware. This allows players to play high-end games on devices that may not have the necessary hardware specifications to run the game locally, as all the processing is done on the remote server.

The cloud gaming market is driven by several factors, including the increasing demand for high-quality and accessible gaming experiences, the growth of mobile and internet-connected devices, and the advancement of cloud computing technology. The rise of 5G networks also plays a significant role in the growth of cloud gaming, as it enables faster and more reliable internet connectivity, allowing for a seamless gaming experience. For instance, according to a forecast by Ericsson, there will be 1.9 billion 5G subscriptions worldwide by the end of 2023. In addition, the increasing availability of subscription-based gaming services and the growing popularity of online multiplayer games also contribute to the growth of the cloud gaming market. The rise of e-sports and the increasing number of professional gamers also contribute to the growth of cloud gaming, as they require high-performance systems and low latency to compete effectively. The cloud gaming market is expected to continue its growth in the coming years, as more and more players demand an immersive and seamless gaming experience.

Insights Presented in the Report
“Amongst offering, game platform services accounted for the majority share in the market in 2020”
Based on the offering, the cloud gaming market is segmented into, infrastructure and gaming platform services. The game platform services held the largest share in the cloud gaming market offering, owing to the growing demand for both content and PC service. Cloud gaming allows playing PC games on nearly any device on the go, which earlier required expensive flashy hardware. Sony’s PlayStation, Blade’s Shadow, GeForce NOW, and Blacknut are some of the major companies providing gaming platform services. The launch of Google’s Stadia and Microsoft XCloud are expected to further drive the platform service market.

“Amongst Device type, Smartphone is expected to witness highest CAGR during the forecast period”
The device type is segmented into smartphones, tablets, gaming consoles, pc and laptops, smart TVs, and HMD. The global cloud gaming market share is dominated by smartphones and is anticipated to maintain its dominance in the upcoming years. With the rapid rise in mobile gaming in recent years, smartphones are anticipated to gain market traction in the coming years. One of the benefits of this technology is its cost-effectiveness. It is way too expensive to constantly upgrade the consoles and PCs to uphold the game performance. Moreover, the growing smartphone-specific gaming tournaments are also expected to significantly influence the market growth during the forecast period.

“North America to witness significant growth during the forecast period”
The North America region is expected to witness a considerable CAGR and is expected to maintain similar growth throughout the forecast period. The growing adoption is mainly attributed to the factors such as increasing internet speed and connectivity, growing demand for gaming, and new gaming technologies. Furthermore, the growing availability of affordable gaming devices in the region. Furthermore, the growing advancements in cloud technology and growing investment in the refinement of the technology is expected to drive the market during the forecast period. Furthermore, the presence of key market players in the industry is expected to influence market growth during the forecast period.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
Global Cloud gaming market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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