The global cloud gaming market is estimated to be worth USD 0.244 billion in 2020.CAGR of 57.2% By 2031, it will reach USD 21.95 Billion.
Growing Demand
Due to increasing demand for content and PC services, the game platform service held the most significant share of the cloud gaming market. Cloud gaming makes it possible to play PC games from almost any device. This is a significant improvement on previous hardware. Many companies offer gaming platform services, including Blade’s Shadow (Sony), GeForce NOW (GeForce NOW), and Blackout. The platform service market will continue to grow with the launch of Google’s Stadia, Microsoft XCloud, and other companies.
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Cloud Gaming Market for Smartphones to Grow at a Higher CAGR The market will grow during the forecast period
Smartphones will be a significant market player in the future, thanks to the rapid rise of mobile gaming in recent years. Its cost-effectiveness is one of its most important advantages. It’s too costly to update the consoles and computers to keep up with game performance. It is expensive to upgrade consoles or customize PCs. Cloud gaming requires a computer, a smart TV, or a 5G device. It has opened up new possibilities for gamers as they can enjoy casual gaming at a fraction of the price.
Driving Factors
5G Technology’s Low Latency Capability Drives Cloud Gaming Market Growth
Market players strive to lower technology barriers and reduce high costs to attract gamers worldwide. A unique and immersive gaming experience is key to low latency for gaming services. The low latency capabilities of 5G technology mean that providers can receive additional assistance. 5G’s launch revolutionized cloud-based games to offer a better gaming experience. Wipro reported in October 2020 that many gamers were looking to upgrade their gaming experience to 5G technology. Due to the low latency capabilities and growth potential of 5G technology, this market will continue to grow.
Key market players and telecom providers are also creating alliances to provide gamers with a seamless 5G gaming experience. S K Telecom and MEC joined SingTel in 2021 to bring 5G to gamers. Blackout, a mobile operator in the EU, joined forces with POST Luxembourg in Oct 2020 to offer 5G gaming. This partnership will drive market growth. VentureBeat also reported Activision Blizzard outperformed analysts’ earnings projections of 50% in a May 2020 study. This is due to the Call of Duty mobile game.
Restraining factors
Resolve Latency and Responsiveness Problems in Hinder Market Potential
Streaming games from a cloud platform will require a low-latency network with adequate bandwidth and high bitrates. Some countries may lack the necessary infrastructure to ensure the best internet performance. Latency and responsiveness could be an issue if you don’t have the proper network requirements or bandwidth. This could be overcome if you have high-speed connectivity from telecom companies and data servers invested in critical organizations such as Microsoft Corporation and Google LLC.
Recent Development
October 2021 – NVIDIA Corporation launches GeForce RTX 3280, an advanced gaming platform based on GeForce NOW. GeForce RTX3080 subscribers offer gamers high frame rates, high resolutions, low latency, and the fastest gaming experience.
September 2021 – Amazon Web Services, Inc. introduced a family-oriented subscription program. For an additional USD 2.99 per lunar+, users will receive 36 child-friendly game options, including Overcooked, Wandersong, and Adventure Pals.
September 2020 – Microsoft Corporation launches Xbox, a cloud gaming service that targets casual players. The company plans to offer services in 22 different countries. This requires faster internet connections than bulkier hardware.
September 2020 – Amazon Inc. has announced Luna, a new gaming platform. This platform can be accessed online through Fire TV, Mac OS, iPad, iPhone, Android, PC, and Mac. Luna Plus channels offer more than 100 games.
Key Companies
- Sony
- GameFly (PlayCast)
- Nvidia
- Ubitus
- PlayGiga
- Crytek GmbH
- PlayKey
- Utomik (Kalydo)
- 51ias.com (Gloud)
- Cyber Cloud
- Yunlian Technology
- Liquidsky
- Blacknut SAS
- Alibaba Cloud
- Baidu
- Tencent Cloud
- Ksyun (Kingsoft)
- LeCloud
Key Market Segments
Type
- Video Streaming
- File Streaming
Application
- PC
- Connected TV
- Tablet
- Smartphone
Frequently Asked Questions
- Which end users are expected to drive the market’s growth over the next five years?
- Which companies are the most prominent in the market? Which of their strategies are most effective in strengthening their market presence?
- Which region will most demand cloud gaming over the following years?
- In the medium to long-term, where will all these changes in the cloud gaming market lead the industry?
- What are the following solutions for cloud gaming?
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