Market Analysis

Market Research Future (MRFR) estimates the global cloud gaming market to reach USD 3,806.52 million at a CAGR of 24.6% from 2017 to 2023 (forecast period).

Cloud gaming, often known as on-demand gaming, does not require any special hardware to play games. Growing high-speed internet penetration, rising smart device use, increased use of gaming as a service and digital transformation in the media & entertainment industry are some of the reasons driving the market growth.

The digitization of information has enabled end-users to store, access, and share data across several platforms all over the world. Because of developments in mobile technology and high Internet penetration, digital transformation has also had a big impact on the media and entertainment industries. Previously, newspapers, magazines, and radios were the primary means of information distribution; but, with digitization, information is now predominantly transmitted through social media platforms, television, and the Internet.

Cloud gaming allows for distant content storage in a connected environment, decreasing storage concerns while enhancing content accessibility and reach. Furthermore, the cloud aids in the restructuring of content on various smart devices, hence boosting content delivery across all mediums. Cloud gaming offers a variety of benefits to users, including faster speed, scalability, and improved user insights; it also keeps the user constantly updated.

COVID-19 Impact on the Global Cloud Gaming Market

The COVID-19 outbreak has had a favorable impact on the cloud gaming market’s growth. In the wake of the pandemic, the bulk of the population has been confined at home, and search engines are attempting to entice consumers by presenting a variety of interactive games on their home page. Google, Inc., for example, produced a series of cloud-based doodles of its popular former games in April 2020. The increased demand for entertainment during the quarantine period is also expected to drive market expansion. Vendors are taking steps to promote social distancing while encouraging cloud gaming. For example, in April 2020, Google, Inc. removed the entry fee for the Stadia cloud gaming service, allowing customers to play video games for free.

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Market Segmentation

The global cloud gaming industry has been segmented based on type, gaming system, deployment, and end-user.

Based on type, the global cloud gaming market has been segmented into video streaming and file streaming. The video streaming segment earned the larger market share in 2018 with a valuation of 853.87, while the file streaming segment is projected to register a higher CAGR of 28.11% during the forecast period.

Based on deployment, the global cloud gaming market has been categorized into hybrid, private, and public cloud. The private cloud captured a market value of USD 544.76 million in 2018, whereas the hybrid segment is projected to exhibit the highest CAGR.

By gaming system, the global cloud gaming market has been categorized into Remote Play, G-Cluster, PlayStation, StreamMyGame, steam in-home streaming, and others. The steam in-home streaming segment earned the largest market share in 2018, whereas the StreamMyGame segment generated USD 264.38 million in 2018 and is projected to register a 21.25 % CAGR.

Based on end-user, the global cloud gaming market has been segmented into casual gamers, serious gamers, and social gamers. The social gamers segment earned the largest market share in 2018, and the serious gamers segment is projected to register the highest CAGR of 28.17% during the forecast period.

Regional Analysis

Geographically, the global cloud gaming industry has been segmented into the Asia Pacific, North America, Europe, the Middle East & Africa, and South America.

North America is predicted to be the largest market for cloud gaming and maintain its dominance during the projected period. During the assessment period, the rapid rise of cloud computing and the expanding presence of professional gamers are likely to fuel market expansion. Furthermore, higher government investments in cloud computing and related technologies, rising smartphone adoption, and expanded penetration of high-speed Internet are key factors driving market expansion.

Key Players

Notable players of the global cloud gaming market are Game Fly (US), Sony Corporation (Japan), Nvidia Corporation (US), PlayGiga (Spain), Ubitus Inc. (US), Playkey (US), Tsinghua Tongfang Co., Ltd (China), Microsoft Corporation (US), Cirrascale Corporation (US), Google, LLC (US), Zynga, Inc. (US), and Hatch Entertainment Ltd (Finland). 

Summary

The global cloud gaming market is set to reach USD 3,806.52 million at a CAGR of 24.6% from 2017 to 2023 (forecast period). The digital transformation of the media and entertainment industries is predicted to have a substantial impact on market development.

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