Global Cloud Gaming Market

Global Cloud Gaming Market Size, Share, Growth Analysis, By Device(Smartphones, tablets), By Streaming type(Video streaming and file streaming), By Gamer Type(Casual gamers, avid gamers) - Industry Forecast 2024-2031

Report ID: SQMIG45A2059 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 90 | Figures: 76

Global Cloud Gaming Market News

  • In September 2022, LG announced the adoption of cloud gaming services for its upcoming smart TVs. LG will include cloud gaming service providers Blacknut and Utomik cloud applications on its smart TVs.
  • In January 2022, Microsoft acquired Activision Blizzard to bring gaming fun and community to everyone on all devices. The acquisition includes legendary properties such as "Warcraft," "Diablo," "Overwatch," "Call of Duty," and "Candy Crush" from Activision, Blizzard, and King, as well as global eSports operations by Major League Gaming. Additionally, with plans to bring Activision Blizzard games to Game Pass, the acquisition will boost Microsoft's Game Pass portfolio, making Game Pass one of the most compelling and diverse portfolios of gaming content in the industry
  • In September 2021, Microsoft announced that it would expand its Xbox cloud gaming operations to Brazil, Mexico, Australia, and Japan. In these countries, more than 100 video games will be available, targeting the local market. As a result of this development, Microsoft Xbox Cloud Gaming will now be accessible in 26 countries.
  • In June 2021, Utomik published Summer in Mara which is a craft-based adventure game. The user plays the role of young Koa, an adventurous girl who travels while planting crops, harvesting them, making new tools, and acquiring things.
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FAQs

Cloud Gaming Market size was valued at USD 696.6 million in 2019 and is poised to grow from USD 1020 million in 2023 to USD 20940 million by 2031, growing at a CAGR of 45.8% in the forecast period (2024-2031).

Global cloud gaming market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. 'Google Inc.', 'Microsoft Corporation ', 'Amazon Inc.', 'NVIDIA', 'Tencent', 'Sony Interactive Entertainment', 'IBM', 'Samsung Electronics', 'Blade', 'Blacknut', 'Shadow', 'Parsec', 'Vortex', 'Ubitus', 'Hatch', 'LiquidSky', 'PlayGiga', 'GameFly', 'PlayKey', 'GeForce Now'

Market players are working to reduce technological barriers and associated high costs to attract the diverse range of gamers present across the world. To provide a realistic and distinctive gaming experience, gaming services require low latency. The low latency capability of 5G technology offers more support to providers. With the introduction of 5G, cloud-based gaming is being redesigned to provide a better gaming experience. For example, in October 2020, according to a Wipro white paper, many players are looking to convert to 5G technology and make additional investments to have a better gaming experience. As a result, it is predicted that the low latency features of 5G technology will further accelerate the market growth.

The world we live in is becoming more and more digital, which is why smartphones are becoming so common. In 2020, there were 5.2 billion smartphone connections and by 2025, 80% of people will be using smartphones. As smartphones are becoming more and more popular, game developers are aiming to offer players a mobile gaming environment. Network providers are investing in mobile gaming as a way to enhance the gaming experience through high-performance connectivity. Using top-tier smartphones, cloud computing and 5G infrastructure across any platform and location will also improve the gaming experience for consumers. A high-quality, low-latency gaming experience can be available on mobile devices. According to data from Ericsson, 22 out of 106 service providers have already implemented mobile cloud gaming services as of October 2020. According to MMR's findings, there are nearly 2.4 billion mobile gamers globally. As a result, the industry is predicted to grow as cloud-based mobile gaming becomes more popular.

Asia-Pacific held the largest market share in the global cloud gaming market in 2021. With the rise in popularity of cloud infrastructure, it is now easier to access a wide range of computing, storage, and communication resources in a reliable, cost-effective, and low-maintenance manner. Gaming services have been classified as one of the fastest growing cloud computing industries in China, and many applications can benefit from these cloud computing capabilities. More cloud-based game operations and development are planned in the future, especially for mobile games. The potential market for on-demand games in homes in China with very high-speed connections is limited by the better compatibility of cloud gaming with IPTV and current technological limitations on streaming.

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