The global gaming marketplace is estimated at USD 0.244 Billion by 2020. CAGR at 57.2%. By 2031, it will be USD 21.95 Billion.
The Game Platform Service held the largest share of the cloud gaming market due to the rising demand for content. Cloud gaming allows PC gamers to access their favorite games from any device. This is a huge improvement over the previous hardware. Many companies offer platform services for gaming, including Blade’s Shadow and GeForce Now (GeForceNOW), as well as Blackout. With the addition of Google Stadia, Microsoft XCloud (and other companies), the platform service market is expected to grow.
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The market for Cloud Gaming Smartphones to Grow at a Higher CAGR
The rapid rise of mobile gaming has made smartphones a prominent market player. Its cost-effectiveness, one of its main advantages, is also one of the most important. It is prohibitively expensive to replace computers and consoles to maintain game performance. It is costly to upgrade consoles or modify PCs. Cloud gaming requires a computer, smart TV, or 5G device. It offers gamers new opportunities to enjoy casual gaming for a fraction of what it costs.
Cloud Gaming Market Growth Powered by 5G Technology.
Market players want to lower technology barriers, reduce high costs and attract gamers worldwide. Low latency is essential for gaming services. The 5G technology has low latency, which means providers can receive more assistance. 5 G’s launch revolutionized cloud-based games. Wipro reported in October 2020 that many gamers were interested in upgrading to 5G technology. This market will continue to grow because of the low latency capabilities (5G technology has high growth potential)
Telecom providers and key market players are also creating alliances to bring 5G gaming to gamers. S K Telecom, MEC, and SingTel joined forces in 2021 to offer 5G to gamers. Blackout, a European mobile operator, joined forces to offer 5G gaming through POST Luxembourg in October 2020. This partnership will propel market growth. VentureBeat also reported Activision Blizzard exceeding analysts’ earnings projections of half a percent in a May 2020 survey. This is due largely to the Call of Duty Mobile game.
Resolve Latency & Responsiveness Problems in Hinder Market Pot
Streaming games on a cloud platform will require a low latency network with sufficient bandwidth and high bitrates. Some countries might not have sufficient infrastructure to guarantee the best internet performance. If you don’t have the right network requirements or bandwidth, latency and responsiveness can be issued. This can be overcome by having high-speed connectivity provided by telecom companies and data servers owned and managed by critical organizations like Microsoft Corporation or Google LLC.
October 2021: NVIDIA Corporation unveils GeForce RX 3280, an advanced gaming system based on GeForce Now. GeForce-RTX3080 subscribers can enjoy high frame rates, high resolutions, and the most enjoyable gaming experience.
September 2020 – Amazon Web Services, Inc. created a family-friendly subscription program. An additional USD 2.99 will be charged for lunar+ to receive 36 child-friendly options such as Overcooked, Wandersong, or Adventure Pals.
September 2020 –Microsoft Corporation launched Xbox, a cloud gaming platform that targets casual players. The company plans on offering services in 22 different nations. This requires faster internet connections than bulkier hardware.
September 2020. Amazon Inc. just announced Luna as a new gaming platform. This platform can be accessed online via Fire TV or Mac OS. Luna Plus channels have more than 100 available games.
- Crytek GmbH
- Utomik (Kalydo)
- 51ias.com (Gloud)
- Cyber Cloud
- Yunlian Technology
- Blacknut SAS
- Alibaba Cloud
- Tencent Cloud
- Ksyun (Kingsoft)
Key Market Segments
- Video Streaming
- File Streaming
- Connected television
Frequently Asked Questions
- Which end-users are expected to drive market growth over the next five years?
- Which companies are the biggest in the market today? Which of their strategies is most effective in strengthening market presence?
- Which region will have the highest demand for cloud gaming over the next years?
- How will the industry evolve long-term from the current cloud gaming market?
- What are the solutions to cloud gaming?
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