New York, US, Oct. 13, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Cloud Gaming Market Analysis by Type, Gaming System, Deployment, End User and by Region - Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 22.53 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 58.75% during the assessment timeframe.
Cloud Gaming Market Overview:
The cloud gaming market is estimated to expand steadily in the next few years. Growing advances in gaming platforms and cloud technology are expected to boost market growth, bringing about innovative gaming ideas with real-time access. Furthermore, the increasing uptake of cloud gaming by various organizations for recreational/ entertainment purposes will foster market revenues.
Cloud gaming is the future of gaming, and the market is well-positioned to witness an exponential rise. Looking at the constantly rising revenues, market players are trying to increase their server capacity to support new users and increasingly complex games. They are increasingly partnering with game developers and cloud service, providing companies to tap into cloud global resources to extend their services to a vast potential customer base worldwide.
Affluent Contenders in the Cloud Gaming Market are-
- Sony Corporation (Japan)
- Game Fly (US)
- Nvidia Corporation (US)
- Playkey (US)
- PlayGiga (Spain)
- Ubitus Inc. (US)
- Tsinghua Tongfang Co., Ltd (China)
- Microsoft Corporation (US)
- Zynga, Inc. (US)
- Cirrascale Corporation (US)
- Hatch Entertainment Ltd (Finland)
- Google, LLC (US).
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A few years ago, playing high-end games on a laptop, tablet, or phone without installing gaming software or buying expensive hardware that, with zero lag, sounded like a gamer's dream. The only access to top-tier, blockbuster AAA games was through a console system or powerful PC. As games increased in sophistication, gaming systems became expensive, requiring constant upgrades to keep up.
Thanks to advances in remote server technology, the cloud can invariably offer options to develop more affordable gaming platforms. Additionally, the cloud strengthens the entire gaming industry, providing a complete gaming ecosystem with compelling game content and easily accessible gaming information.
The necessity of a powerful cloud platform and scalability issues restrain the market growth. The right cloud is the key to success in the gaming business. Before developing a game industry, players need a powerful cloud platform that could match the performance of a console system or high-end gaming computer and one that could deliver enough computing power to deliver a latency-free gaming experience.
Moreover, adequate scalability (scalable cloud platform) is also needed to bundle solutions into gamers' mobile plan offerings and enable the gaming platform to accommodate the subsequent influx of mobile plan subscribers. The latest AI, graphics processing unit (GPU), and security technology are needed to support the high-quality graphics required for AAA gaming.
These setups require huge funds to start a gaming business. The lack of funding could restrict the market growth. Additionally, factors such as privacy issues, lack of awareness, and substantial investments required to increase the network capacity pose challenges to market growth.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 22.53 Billion |
| Growth Rate | CAGR of 58.75% from 2022 to 2030 |
| Key Market Opportunities | Major market players are trying their best to get high-speed internet and connectivity which boosts the opportunity e for smartphones and smartphones TVs for gaming. |
| Key Market Drivers | The growth of the global cloud gaming market involve demand for low latency, innovative and impressive gaming environments. |
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Industry Trends
The market is predominantly driven by the advent of 5G technology, rising popularity of competitive games, and growing numbers of gamers. The 5G technology has allowed a new beginning in connectivity and transformed the gaming industry worldwide. Most countries are investing heavily in 5G technology to gain broader microeconomic advantages.
Besides, the extensive uptake of online games in the education and media & advertisement sectors has allowed the market to garner rapid traction in recent years. Also, the rising adoption of cloud gaming in casinos and increasing numbers of gaming zones influence market shares. The wide use of cloud gaming for commercial and personal uses positively impacts the market size.
Cloud Gaming Market Segments
The cloud gaming market is segmented into type, gaming system, deployment, end user, and regions. The type segment comprises video streaming and file streaming. Of these, the video streaming segment accounts for the largest market share, while the file streaming segment demonstrates a higher CAGR.
The gaming system segment comprises g-clusters, play stations, stream my game, remote play, steam in-home streaming, and others. Among these, the steam in-home streaming segment holds a significant market share, while the stream my game segment generates higher revenues.
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The deployment segment comprises hybrid, private, and public clouds. Among these, the private cloud segment shows higher growth, while the hybrid segment grows at the highest CAGR. The end user segment comprises casual gamers, professional gamers, serious gamers, and social gamers. Of these, the social gamers segment accounts for the largest market share, while the serious gamers segment grows at a higher CAGR.
Regional Analysis
North America dominates the global cloud gaming market during the forecast period. The region demonstrates the early adoption of cloud technology. Resultantly, it witnesses higher adoption of cloud gaming services than the other regions. Besides, the strong base of gaming platform providers and professional gamers provides a huge impetus to market growth. Furthermore, increased investments in cloud computing and related technologies by governments and increasing penetration of smartphones & high-speed Internet connectivity fuel market growth.
The cloud gaming market is brisk in the Asia Pacific region. The proliferation of cloud technology & gaming and growing investments in technology upgrades influence the region's market shares. Additionally, rising 5G infrastructure development initiatives stimulate the market size. Also, the growing adoption of smartphones & gaming consoles and the rapidly swelling online population create vast growth opportunities. Furthermore, the availability of cost-competitive gaming platforms and technologies encourages its usage across customer classes.
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Competitive Landscape
Highly competitive, the cloud gaming market appears fragmented due to the presence of many well-established players. Players focus on M&A activities and make significant investments to gain impetus. These players also make substantial investments to drive their R&D activities and expand their global footprints. Cloud gaming providers partner with telecom companies to offer high scalability that can create high-speed connectivity architecture.
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