Global Cloud Gaming Market Share Is Expected To Grow At A CAGR Of 42.50% By 2028

04-Oct-2022 | Facts and Factors

According to Facts and Factors, the global cloud gaming market size was worth USD 1,592.40 million in 2021 and is estimated to grow by about USD 13,333.41 million by 2028, with a compound annual growth rate (CAGR) of approximately 42.50% over the forecast period. The report analyzes the cloud gaming market drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the cloud gaming market.

Global Cloud Gaming Market Size

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Platforms for cloud gaming offer a more inexpensive choice for users and game producers. Customers who play games in the cloud can avoid the cost of purchasing a hardware console or P.C. Instead, buyers might pay a small monthly fee to subscribe to a cloud gaming service, which often provides access to a library with a selection of pre-loaded games that can PLAY on any device and from anywhere. Because they don't have to worry about downloading, waiting for a game to install, or maintaining storage space for new games, users of cloud gaming services can also save money on bandwidth and storage costs. Additionally, cloud gaming services enable video game developers to create games for specific hardware without considering a minimal system optimization for lower-end consumer consoles or P.C.s. I.T. expedites development and, in the end, helps them save money. Cloud gaming services are becoming more widely available, and this development is expected to continue in the future.

Browse the full “Cloud Gaming Market Size, Share, Growth Analysis Report By Offering (Infrastructure, Gaming Platform Service), By Device Type (Smartphones, Tablets, Gaming Consoles, PC and Laptops, Smart TV, HMD), By Solution (Video Streaming, File Streaming), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/cloud-gaming-market

The increasing ubiquity of the internet and the ease of access to cloud-based games are driving up demand for them. Furthermore, 5G offers larger bandwidths and lower latency, allowing players to stream X.R. games effortlessly. Furthermore, the increasing adoption of smartphones is likely to boost the global cloud gaming market growth. The expansion of the market is primarily driven by the growing popularity of mobile gaming and the digitalization of gaming technologies. Maintaining and regularly updated backup is another advantage of cloud gaming. It reduces the need to maintain physical copies of software and lowers the overall cost of gaming. Cloud gaming reduces the amount of data stored and makes it easier for users to access the games. All of these elements have influenced how well-liked cloud gaming is overall. Additionally, expanding network connectivity, the availability of quick-play games, and gameplays that don't require download or installation on nearly all platforms and operating systems, including Android, Linux, Mac, iOS, and Chrome O.S., are all fueling market expansion.

The global cloud gaming market is segmented based on the offering, device type, solution, and region. Based on the offering, the market is segmented into infrastructure and gaming platform services. The gaming platform segment accounted for a high share globally in 2021. Based on device type, the market is segmented into smartphones, tablets, gaming consoles, P.C. and laptops, smart T.V., and HMD. The smartphone segment dominated the market in 2021. Based on the solution, the market is segmented on video and file streaming. The video streaming segment dominated the market in 2021.

The Asia Pacific dominated the global cloud gaming market in 2021. The region's market growth is anticipated to be driven by increased entertainment demand and expanding smartphone adoption. New gaming genres, greater disposable wealth, and an increasingly young population support this. Among the countries with the largest contributions to the global gaming sector are Japan, China, and India. China is anticipated to dominate the market throughout the projection period, thanks to rising investments in telecommunications and 5G infrastructure. Japan will experience rapid growth over the anticipated term due to significant cloud gaming industry players. The gaming industry in these countries is developing due to the quick advancement of technology and numerous important game businesses, including Konami, Sony, and Nintendo, which have long been household brands.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 1,592.40 Million

Projected Market Size in 2028

USD 13,333.41 Million

CAGR Growth Rate

42.50% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

AMAZON LUNA, BLACKNUT, GOOGLE LLC., MICROSOFT CORPORATION, NVIDIA CORPORATION, SHADOW, SONY GROUP CORPORATION, TENCENT, UBITUS K.K., VORTEX (REMOTEMYAPP SP. Z O. O.)., and others.

Key Segment

By Offering, Device Type, Solution, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Key players in the global cloud gaming market include AMAZON LUNA, BLACKNUT, GOOGLE LLC., MICROSOFT CORPORATION, NVIDIA CORPORATION, SHADOW, SONY GROUP CORPORATION, TENCENT, UBITUS K.K. and VORTEX (REMOTEMYAPP SP. Z O. O.).

Recent Development:

  • September 2021: To increase the selection of games available on the gaming platform for GeForce NOW, NVIDIA Corporation worked with Electronic Arts Inc. Through this collaboration, Electronic Arts made its popular games available on NVIDIA's GeForce NOW. Games including Mirror's Edge Catalyst, Battlefield 1 Revolution, Dragon Age: Inquisition, Apex Legends, and Unravel Two were introduced to the NVIDIA gaming service by the firm.
  • November 2020: Ubitus Inc. and Intel Corporation released a game app for Android. As the system is built on an Intel Server GPU, gaming performance is enhanced.

Global Cloud Gaming Market is segmented as follows:

By Offering

  • Infrastructure
  • Game Platform Services

By Device Type

  • Smartphones
  • Tablets
  • Gaming Consoles
  • PCs & Laptops
  • Smart TVs
  • HMD

By Solution

  • Video Streaming
  • File Streaming

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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