The global cloud gaming market was worth USD 699.6 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 46.8% between 2022 and 2030.
The rising popularity of mobile gaming, combined with the increasing adoption of smartphones and tablets in developing countries, is propelling the market forward. Furthermore, growing network connectivity and the compatibility of installation-free gameplay on almost all operating systems, including Android, iOS, and Chrome, are increasing the popularity of Cloud Gaming. The expanding 4G cellular network, combined with the adoption of new 5G networks in developed countries, presents a growth opportunity for the market over the forecast years. The
Market Dynamics
Drivers:
Market players are attempting to lower technological barriers and associated high costs to attract all global gamer types. Low latency in gaming services is critical to provide an immersive and unique gaming experience. 5G technology, with its low-latency capability, helps providers even more. With the launch of 5G, cloud-based gaming is being modified to provide a better gaming experience. According to a Wipro whitepaper, many players plan to switch to 5G technology and spend more money to have a better gaming experience in October 2020. As a result, 5G technology's low-latency capabilities are expected to drive market growth even further.
Restraints:
Streaming games on a cloud platform necessitates a network with low latency, high bitrates, and adequate bandwidth. However, in some countries, the cost of establishing a high-performance internet connection may be relatively high. If the appropriate network and bandwidth requirements are not met, latency and responsiveness can be an issue. Concerns related to the Latency of the internet and the cost of hight speed internet is expected to stifle the market growth.
Key players:
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Amazon.com, Inc.
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Apple Inc.
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Electronic Arts, Inc.
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Google Inc.
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Intel Corporation
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International Business Machines Corporation (known as IBM)
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Microsoft Corporation
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NVIDIA Corporation
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Sony Interactive Entertainment
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Ubitus Inc.
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Tencent Holdings Ltd.
Market Segmentation:
Cloud Gaming Market, By Type
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File Streaming
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Video Streaming
Cloud Gaming Market, By Device
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Smartphones
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Tablets
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Gaming Consoles
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PCs & Laptops
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Smart TVs
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Head-mounted Displays
Cloud Gaming Market, By Gamer Type
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Casual Gamers
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Avid Gamers
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Lifestyle Gamers
Cloud Gaming Market, By Region
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North America
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Latin America
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Europe
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Asia Pacific
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Middle East & Africa
Regional Analysis
Asia Pacific had the highest revenue share of nearly XX% in 2021 and is expected to grow steadily over the forecast period. The region's demographics and large gamer population are the main factors driving the market growth. Cloud gaming services have also grown in popularity in Japan.
Latin America is expected to grow rapidly, with a CAGR of nearly XX% over the forecast period. Xbox and NVIDIA Corporation's GeForce Now have both entered the Brazilian market. While the market is new, factors such as population strength and youth, which account for nearly XX% of the market, are likely to aid in its growth.
Scope of the Report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2022-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 46.8% |
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YoY growth (%) |
XX% |
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Regional analysis |
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Current Market size |
USD 700 Billion |
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Companies Covered |
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User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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