The Cloud Gaming Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cloud Gaming Global Market Report 2024, The cloud gaming market size has grown exponentially in recent years. It will grow from $9.67 billion in 2023 to $13.89 billion in 2024 at a compound annual growth rate (CAGR) of 43.6%. The growth in the historic period can be attributed to growing gaming industry, rise of mobile gaming, ubiquity of smart devices, cost-effective gaming solutions, reduced latency, cross-platform compatibility.
The cloud gaming market size is expected to see exponential growth in the next few years. It will grow to $61.79 billion in 2028 at a compound annual growth rate (CAGR) of 45.2%. The growth in the forecast period can be attributed to emergence of game streaming platforms, global expansion of cloud services, increasing internet speeds, focus on social gaming, integration with smart tvs, expansion of gaming content libraries, . Major trends in the forecast period include expansion of 5g networks, subscription-based gaming models, integration with smart devices, ai and machine learning integration, game streaming technologies, partnerships with game developers.
The rising penetration of the internet is expected to propel the growth of the cloud gaming market going forward. Internet penetration is the proportion of the population that has internet access, which is defined by the country’s internet user ratio. An Internet connection helps in cloud gaming by providing access to the games and creating connections to the remote servers. For instance, in June 2021, according to the International Telecommunication Union, a UN organization for information and communication technologies, there were 4.9 billion users of the Internet. With an anticipated 800 million people joining the internet since 2019, 63% of the world’s population is now online, and it is expected to rise by an additional 17% by the end of 2024. Therefore, the rising penetration of the internet is driving the growth of the cloud gaming market.
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The Cloud Gaming Market Covered In This Report Is Segmented –
1) By Gaming Type: Video Streaming, File Streaming
2) By Offering: Infrastructure, Game Platform Services
3) By Device: Smartphones, Tablets, Gaming Consoles, PCs and Laptops, Smart TVs, Head-Mounted Displays
4) By End User: Casual Gamers, Avid Gamers, Hardcore Gamers
Technological advancements are a key trend gaining popularity in the cloud gaming market. Major companies operating in the market are developing advanced technologies such as GeForce NOW, which works on the cloud, and NVIDIA Adaptive Sync technologies to sustain their position in the market. For instance, in October 2021, Nvidia Corporation, a US-based technology company, launched GeForce NOW. It offers more than 39 petaflops of graphics processing power. The version has 35 teraflops of performance, which is nearly triple that of an Xbox Series X. It is simple to connect to several devices at the same time using the newest NVIDIA Adaptive Sync technologies.
The Cloud Gaming Market Report Table Of Contents Includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential AnalysisContact Us:
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