Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Cloud Gaming Market Size, Share & Trends Analysis Report By Type (File Streaming, Video Streaming), By Gamer Type (Casual Gamers, Avid Gamers), By Device, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global cloud gaming market is set to witness an exponential surge, with estimations placing its market size at USD 20.93 billion by 2030. The industry is poised for remarkable growth, fueled by a remarkable Compound Annual Growth Rate (CAGR) of 45.5% from 2023 to 2030.
This meteoric rise can be attributed to the burgeoning trend of cloud-based gaming, which encompasses features like online game progress saving and seamless file streaming, driving the market's expansion.
The allure of cloud gaming lies in its potential to revolutionize the gaming landscape, offering both developers and gamers an array of enticing benefits. The ability to harness unlimited data storage and alleviate the strain on local device storage positions cloud gaming as an enticing prospect. Furthermore, the advent of 5G technology, coupled with affordable access to a diverse array of cloud-based games, is anticipated to significantly bolster market growth.
The amalgamation of high-speed internet and low latency, facilitated by the advent of 5G, is projected to pave the way for cloud gaming to flourish. Notably, prominent companies are increasingly integrating cloud gaming features into their offerings, leveraging the availability of high-speed internet to offer users an immersive gaming experience sans the need for high-end hardware.
An exemplar of this trend is Microsoft Corporation's Xbox Cloud Gaming service, which harnesses high-speed internet to deliver a captivating gaming experience, eliminating the necessity for expensive hardware. Moreover, the global upheaval caused by the COVID-19 pandemic has accelerated the growth trajectory of the cloud gaming market.
As gamers pivoted towards platforms that facilitated cloud gaming, the market experienced a notable upswing. The restrictions imposed by lockdowns compelled individuals to seek entertainment alternatives, further fueling the demand for cloud-based gaming services.
However, this surge in demand was not without challenges. As the pandemic-induced demand for gaming surged, major cloud gaming service providers, including Microsoft Corporation and Sony Group Corporation, encountered significant server loads due to the unprecedented volume of traffic. Additionally, the realm of cloud-based gaming on smartphones flourished during the pandemic, driven by the popularity of multiplayer games such as Call of Duty and Player Unknown's Battlegrounds.
The global cloud gaming market is poised to redefine the gaming experience, leveraging cutting-edge technology and evolving consumer preferences to propel the industry towards unprecedented heights. As accessibility and engagement in cloud gaming continue to climb, the industry's future holds promising opportunities for innovation and growth.
Cloud Gaming Market Report Highlights
- By region, the Asia Pacific region accounted for the largest revenue share of more than 40% of the global market because of the high level of internet penetration in the region
- By type, the file streaming segment is anticipated to grow at the fastest CAGR of more than 45% over the forecast period due to the trend of partial download so that users can launch certain sections of a videogame before it fully downloads
- By device, the smartphones segment is expected to grow at the fastest CAGR of approximately 49% over the forecast period due to the growing penetration of budget smartphones and affordable mobile data plans
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.02 billion |
| Forecasted Market Value (USD) by 2030 | $20.93 billion |
| Compound Annual Growth Rate | 45.5% |
| Regions Covered | Global |
Competitive Landscape
- Recent Development & Impact Analysis, By Key Market Participants
- Company Categorization
- Participant's Overview
- Financial Performance
- Product Benchmarking
- Company Heat Map Analysis
- Company Market Share Analysis, 2022
- Strategy Mapping
- Research & development
- Partnership
- New product/feature launch
- Expansion
Key Participants
- Amazon.com, Inc.
- Apple Inc.
- Electronic Arts, Inc.
- Google, LLC
- Intel Corporation
- IBM Corporation
- Microsoft Corporation
- NVIDIA Corporation
- Sony Interactive Entertainment
- Ubitus Inc.
- Tencent Holdings Inc.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market driver analysis
3.3.2 Market restraint analysis
3.4 Industry Analysis Tools
3.4.1 PORTER's analysis
3.4.2 Macroeconomic analysis
3.5 Cloud Gaming Market - Trend Analysis
3.5.1 Technology trends
3.5.2 Regulatory trends
3.5.3 Vendor trends
3.5.4 Buyer/end-user trends
3.6 Cloud Gaming Market - COVID-19 Impact Analysis
3.7 Data Generation & Storage Analysis
3.8 Network Traffic Trend Analysis
Chapter 4 Type Estimates and Trend Analysis
4.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
4.2 Type Movement Analysis & Market Share, 2022 & 2030
4.3 Cloud Gaming Market Estimates & Forecast, By Type, (USD Million)
4.3.1 File streaming
4.3.2 Video streaming
Chapter 5 Device Estimates and Trend Analysis
5.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
5.2 Device Movement Analysis & Market Share, 2022 & 2030
5.3 Cloud Gaming Market Estimates & Forecast, By Device (USD Million)
5.3.1 Smartphones
5.3.2 Tablets
5.3.3 Gaming consoles
5.3.4 PCs & laptops
5.3.5 Smart TVs
5.3.6 Head-mounted displays
Chapter 6 Gamer Type Estimates and Trend Analysis
6.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
6.2 Gamer Type Movement Analysis & Market Share, 2022 & 2030
6.3 Cloud Gaming Market Estimates & Forecast, By Gamer Type, (USD Million)
6.3.1 Casual gamers
6.3.2 Avid gamers
6.3.3 Lifestyle gamers
Chapter 7 Regional Outlook
For more information about this report visit https://www.researchandmarkets.com/r/6hg2in
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
