The global cloud gaming market size was valued at USD 0.47 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 48.2% from 2021 to 2027. The rising popularity of cloud gaming along with the prevalence of enhanced cross-platform gameplay, which improves gaming experience, is anticipated to drive market growth.
The rising popularity of mobile gaming coupled with the growing adoption of smartphones and tablets in developing nations is driving the growth of the market. Moreover, flourishing network connectivity and the compatibility of installation free gameplays on almost all operating systems such as Android, iOS, and Chrome among others are expanding the popularity of Cloud Gaming. The increasing 4G cellular network coupled with the adoption of new 5G networks in developed nations is an opportunity for the market to grow over the forecast years. The Global Cloud Gaming Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Cloud Gaming indicates an online platform for playing games that eradicates the need for any specific hardware. It is a trending innovation and highly adopted by gamers crosswise the world as it reduces the need for regular updates of hardware for the compatibility of the game. Cloud Gaming also presents an integrated gaming experience on smart devices coupled with an intensified gaming experience.
Key Player Mentioned:
Amazon Web Services Inc.
Apple, Inc.
Electronic Arts, Inc.
Google Inc.
Intel Corporation
International Business Machines Corporation
Microsoft Corporation
NVIDIA Corporation
Product Segment Analysis:
File Streaming
Video Streaming
Application Segment Analysis:
Smartphones
Tablets
Gaming Consoles
PCs & Laptops
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Regional Segment Analysis:
North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
North America is anticipated to record considerable growth over the forecast period. This growth can be attributed to the presence of key vendors such as Google, Inc.; Apple Inc.; Microsoft Corporation; and International Business Machines Corporation in the region. These vendors are continuously working toward offering enhanced gaming experience to users through their innovative products and solutions. For instance, in November 2019, Apple Inc. launched a video game subscription service called Apple Arcade for iPadOS, iOS, macOS, and tvOS.
Factors that boost the opportunities to grow the cloud gaming market are growing affordable internet plans all over the world as well as the investments made in 5G technology projects. Major market players are trying their best to get high-speed internet and connectivity which boosts the opportunity e for smartphones and smartphones TVs for gaming. In addition to this, the increasing advantage of smartphones is expected to show some potential boost in cloud-based gaming solutions. The factors of body unity hence are concluded as smartphones and smart TV segments which are potentially thought to show growth during the forecasted period.
KEY aspects covered in the report include:
- The market size and industry growth rate of the global and regional market across various segments
- The region or the sub-segment that is expected to drive the Cloud Gaming market in the forecast period 2021-2028
- Key companies operating in the global Cloud Gaming market and their market share
- The Factors that are estimated to drive the Cloud Gaming Market growth
- Key opportunities in the Cloud Gaming market
- Key technological advancements and market trends that shape the market
The study objectives of this report are:
- To research global status, future forecasts, growth opportunities, key markets and key players.
- To present the market development in us, Europe and China.
- To strategically profile the key players and comprehensively analyze their development plan and methods.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
