NEW
YORK, July 22, 2024 /PRNewswire/ -- The global
cloud gaming market size is estimated to grow by USD 1.49 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
9.22% during the forecast period. Increased
availability of high-speed internet is driving market
growth, with a trend towards growth in mobile cloud
gaming. However, infrastructural and bandwidth challenge
poses a challenge. Key market players include Advanced Micro
Devices Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com
Inc., Apple Inc., BLACKNUT, Cloudquest Pvt. Ltd., Crytek GmbH,
Intel Corp., International Business Machines Corp., Loudplay,
Microsoft Corp., Nintendo Co. Ltd., NVIDIA Corp., OVH Groupe SA,
Paperspace Co., Samsung Electronics Co. Ltd., Sony Group Corp.,
Ubitus KK, and Unity Software Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Video
streaming and File streaming), Device (Gaming consoles, Computing
devices, Smart TVs, and Mobile devices), and Geography (North
America, APAC, Europe, South America, and Middle East and
Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Advanced Micro Devices
Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc.,
Apple Inc., BLACKNUT, Cloudquest Pvt. Ltd., Crytek GmbH, Intel
Corp., International Business Machines Corp., Loudplay, Microsoft
Corp., Nintendo Co. Ltd., NVIDIA Corp., OVH Groupe SA, Paperspace
Co., Samsung Electronics Co. Ltd., Sony Group Corp., Ubitus KK, and
Unity Software Inc.
|
Key Market Trends Fueling Growth
The global mobile cloud gaming market is experiencing
significant growth, projected to reach USD98
billion by 2024. This expansion is driven by the convenience
of playing high-quality games on the go and the increasing power of
mobile devices. Major players like Google Stadia, Microsoft xCloud,
and NVIDIA GeForce Now are leading this trend, offering flexible
access to games without the need for heavy hardware. The market is
becoming increasingly competitive, with both established companies
and new startups entering the space, providing users with more
options. By 2027, the number of mobile cloud gaming users is
expected to reach 1.9 billion.
The cloud gaming market is experiencing significant growth with
technologies like 5G and VR/AR leading the way. Companies are
investing in cloud gaming services to provide consumers with
high-quality gaming experiences without the need for expensive
hardware. Cloud gaming consoles and portable laptops are popular
choices for gamers, offering convenience and accessibility. The
trend towards remote work and learning is also driving demand for
cloud gaming solutions. Games like Minecraft, Fortnite, and Rocket
League are among the most popular choices for cloud gaming. The
market is expected to continue growing as technology advances and
consumer preferences shift towards more accessible and convenient
gaming options.
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Market Challenges
- Cloud gaming's growth is hindered by bandwidth requirements and
limited Internet access in certain regions. High-speed Internet has
improved accessibility, but latency remains a significant
challenge. Some providers have made strides in reducing latency,
but it continues to impact the global cloud gaming market. Reliable
high-speed Internet infrastructure is essential for seamless cloud
gaming experiences.
- The cloud gaming market is experiencing significant growth,
with games, tech companies, and video streaming platforms investing
heavily in this sector. However, challenges persist. One major
issue is the requirement for high-speed internet connections to
ensure smooth gameplay. Another challenge is the need for advanced
technology to provide realistic graphics and low latency.
Additionally, security concerns, such as data privacy and
protection, must be addressed. Furthermore, monetization
strategies, including subscription models and in-game purchases,
need to be effective to generate revenue. Lastly, the market is
becoming increasingly competitive, with new players constantly
entering the scene. Overall, these challenges require innovative
solutions to ensure the continued growth and success of the cloud
gaming market.
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challenges - Download a Sample Report
Segment Overview
This cloud gaming market report extensively covers market
segmentation by
- Application
- 1.1 Video streaming
- 1.2 File streaming
- Device
- 2.1 Gaming consoles
- 2.2 Computing devices
- 2.3 Smart TVs
- 2.4 Mobile devices
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Video streaming- The cloud gaming market is
experiencing significant growth as more businesses adopt this
technology for remote work and entertainment. It allows users to
access high-performance games on any device with an internet
connection. Companies like Google Stadia, Microsoft xCloud, and
NVIDIA GeForce Now are leading this market, providing affordable
and convenient gaming solutions. This trend is expected to continue
as the demand for flexible and cost-effective gaming options
increases.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global subscription-based gaming market is experiencing
significant growth, driven by increasing demand for convenient,
on-demand gaming experiences. Major players like Xbox Game Pass and
PlayStation Plus are leading the charge, offering extensive
libraries of games for a monthly fee. Concurrently, the global
gaming market continues to expand, fueled by advancements in
technology, the rise of mobile gaming, and the growing popularity
of eSports. Together, these trends are shaping the future of the
gaming industry, providing diverse and immersive experiences for
gamers worldwide.
Research Analysis
The Cloud Gaming Market is experiencing significant growth due
to the convergence of 5G technology and cloud technology. This
advancement is revolutionizing the gaming sector by catering to the
increasing player demand for top-tier games on portable devices,
laptops, tablets, and even Smart TVs. The gaming experience is no
longer tethered to specific hardware, such as gaming consoles, as
remote servers handle the processing and technical complexities.
Startups and established players in the Gaming Industry are
investing in Cloud Gaming and Game Design to meet the escalating
interest in mobile games and Virtual Reality (VR). The integration
of Cloud gaming with VR offers a new dimension to video games,
enabling users to immerse themselves in a more interactive and
realistic gaming environment. The future of gaming lies in the
seamless integration of Cloud technology, 5G, and gaming hardware,
providing unparalleled internet usage capabilities and enhancing
the overall gaming experience.
Market Research Overview
The Cloud Gaming market refers to the delivery of computing
power, applications, and storage over the internet, enabling users
to play high-performance games on various devices without the need
for local hardware. This technology is revolutionizing the gaming
industry by providing access to games on demand, reducing latency,
and enabling seamless multiplayer experiences. The Cloud Gaming
market is expected to grow significantly due to increasing internet
penetration, advancements in technology, and the rising demand for
gaming on-the-go. Consumers can enjoy a wide range of games,
including AAA titles, indie games, and classic titles, all streamed
directly from the cloud. Additionally, Cloud Gaming offers benefits
such as automatic updates, lower upfront costs, and the ability to
play on multiple devices. Overall, Cloud Gaming is transforming the
way we play games and is set to become a major player in the gaming
industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Video Streaming
- File Streaming
- Device
-
- Gaming Consoles
- Computing Devices
- Smart TVs
- Mobile Devices
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio