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Global Cloud Gaming Market is Projected to Garner Significant Revenue by 2025

Author : Ronak Bora | Published Date : 2020-09-18 

Increasing popularity of console and mobiles games among people from different age groups has offered a momentous platform for cloud gaming market to reach an immense large consumer base. While most users play games for recreational purposes, many people consider gaming as a stress-relieving activity at the end of a chaotic day for calming the mind and body. Established developers as well as emerging players in the gaming sector are looking for ways to make their products more accessible to users, fostering advancement of cloud gaming industry.

A cloud-based gaming solution apparently provides game developers with an efficient way to build a platform where people can play desired titles without having to own expensive hardware, besides cutting out middlemen such as physical and online stores. Recent advancements in cloud technology have enabled devices with lower computational capacity to operate some of the best high-quality next-generation games. In addition, increasing prices of gaming consoles and components, rise in hardware specifications and surging investments in faster internet networks have allowed access to several games at cost-effective rates, stimulating the global cloud gaming market size.

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The Business-to-Business (B2B) cloud gaming market is anticipated to attain a growth rate of over 40% over the forecast timeline. This is credited to the rising number of strategic initiatives among cloud gaming platform providers and internet service providers. The internet service providers are forming tie-ups with cloud gaming platforms to capitalize on their existing fiber investments in various developed regions. The Business-to-Consumer (B2C) model has been widely adopted by console manufacturers to reduce their reliance on external stakeholders. It also allows companies to personalize their product offerings to best suit their customer requirements.

With the evolution of computer and mobile gaming due to technological advancements, global cloud gaming market is poised to experience an unprecedented level of growth over the forecast time period. Estimates show that on an average, individuals play video games for nearly six hours on a weekly basis. Moreover, they seemingly spend approximately two hours each week watching others play video games on online streaming platforms such as YouTube and Twitch.

The concept of cloud gaming is anticipated to pick up significant momentum over the coming years as its entire model could revolutionize the PC gaming sector. Under this model, an individual could lease out a game and a virtual machine that is hosted on a dedicated server for a few hours. Video games are rapidly becoming an integral part of human lives with some of them potentially becoming a cultural phenomenon.

As of 2018, there were approximately 2.2 billion gamers across the world, which amounts to almost a third of the world’s population. Today the only factors limiting the gaming industry in drawing more consumers are the escalating PC and console game prices, massive storage and memory demands and the high-specification computers or consoles they require to run smoothly. Addressing these issues, cloud gaming market will amass tremendous revenues in the imminent future from millions of gaming enthusiasts.

The slowly emerging subscription based model for accessing games on the cloud could prove to be affordable enough to attract more gamers who can rent games and machines more frequently. The cloud gaming industry size is anticipated to expand with the rise of Virtual Reality (VR) and Augmented Reality (AR) technology based gaming. AR and VR games are a high performance demanding niche, as they are extremely latency sensitive.

North America held more than 45% of the total revenue in the global cloud gaming market in 2018. Large players in the region, such as Microsoft and Electronic Arts, are conducting various strategic initiatives to augment their existing product features. The presence of strong telecommunication architecture is encouraging the companies to launch their product offerings in the region. The Asia Pacific cloud gaming market is expected to register a CAGR of 46% over the forecast time period due to the rising frequency of 5G development initiatives in the region. The inexpensive nature of the cloud gaming platform is driving its usage among various cost-sensitive gamers.

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The cloud gaming market is driven by large game manufacturers and publishers such as Electronic Arts, Sony, and Microsoft. The players are forming partnerships with console developers to enhance their product features. For instance, in May 2019, Sony signed an agreement with Microsoft to build a new & advanced cloud gaming platform & content streaming solution. The players operating in the market are Apple, Cloudzen, Electronic Arts, Broadmedia GC, RemoteMyApp, RemotrCloud, Sony, Wiztivi, PlayKey, Rainway, Playcast, Playgiga, Playcast, Playgiga, Nvidia, Paperspace, Parsec, and Advanced Micro Devices.

Table of Contents (ToC) of the report:

Chapter 5. Global Cloud Gaming Market, By Type

5.1. Key trends, by type

5.2. File streaming

5.2.1. Market estimates and forecast, 2015 - 2025

5.3. Video streaming

5.3.1. Market estimates and forecast, 2015 - 2025

Chapter 6. Global Cloud Gaming Market, By Device

6.1. Key trends, by device

6.2. Consoles

6.2.1. Market estimates and forecast, 2015 - 2025

6.3. PCs & laptops

6.3.1. Market estimates and forecast, 2015 - 2025

6.4. Smartphones & tablets

6.4.1. Market estimates and forecast, 2015 - 2025

6.5. Connected television

6.5.1. Market estimates and forecast, 2015 - 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/cloud-gaming-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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