May 10, 2022, 19:30 ET
NEW YORK, May 11, 2022 /PRNewswire/ -- In 2021, the global cloud gaming market was valued at $4,500.7 million, which is expected to grow at a huge CAGR of 42.8% from 2021 to 2030, to reach $111,344.1 million by 2030. Many factors drive the market growth, such as cross-platform gameplays, rising popularity of cloud gaming, and easy access to cloud-based games. Cloud gaming allows players to access games via distant servers rather than installing them on a computer or gaming device. This removes the requirement for storage and the necessity to buy the latest gaming PC or console.
To keep ahead of the competition, various players in the market are releasing new products, acquiring firms, and forming collaborations. For instance, in May 2021, Blade, as well as its cloud gaming service, Shadow, were purchased by Jezby Ventures, the investment arm created by OVHcloud founder, Octave Klaba. Other big market players include Ubitus K.K., Tencent, Sony Group Corporation, Shadow, NVIDIA Corporation, Blacknut, Google LLC, Amazon Luna, and Microsoft Corporation.
Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/cloud-gaming-market/report-sample
Key Findings of Cloud Gaming Market Report
- The cloud gaming market is characterized by the high investments by major stakeholders, similar to the cloud sector. Tencent, Sony, and Square Enix, for example, invested in Ubitus in March 2021 to improve its cloud gaming technologies.
- In 2021, APAC held over 49% market share, and it is predicted to continue its dominance in the coming years. The region's market development is predicted to be fueled by the expanding smartphone penetration and rising demand for entertainment.
- The smartphone category generates the highest revenue in the market, with $1,645.6 million in sales in 2021, and it will have a CAGR of nearly 43% during the projected period. This will be due to the cost-effectiveness of mobile games, which have seen a steady increase in the number of players in the last five years.
- In 2021, the video streaming category held over 62% cloud gaming market share. Video streaming is now becoming increasingly popular since it eliminates the need for extra gear. Moreover, video streaming services allow players to view and play games through the internet, from any device and any place.
- The rising fame of social media games is likely to fuel the industry expansion. A sizable portion of the population uses social networking sites, such as Instagram, Facebook, and Reddit, to play games.
- Blacknut, a cloud gaming service provider located in France, said in May 2021 that it has created a progressive web app (PWA) to deliver cloud gameplay to iOS for subscribers in 40 countries.
Browse detailed report on Global Cloud Gaming Market Size, Share, Growth and Regional Forecast Analysis 2030
Cloud game use numbers surged during the pandemic because they provided one of the finest entertainment alternatives to those who were confined in their homes. The count of downloads of different programs increased significantly, as did the amount of time spent playing online games. Furthermore, COVID-19 has compelled smaller services to enter the cloud gaming market, particularly in developed countries.
The multiple technical breakthroughs in cloud gaming, including the advent of VR, AR, and 5G, have resulted in a boom in the demand for mobile games. The introduction of the 5G technology and the availability of unlimited plans are two key factors helping cloud gaming's global growth, as most gamers today play on their smartphones, rather than PCs or tablets.
Cloud Gaming Market Segmentation Analysis
- Gaming Consoles
- Video Streaming
- File Streaming
By End User
- Hardcore Gamers
- Casual Gamers
- Avid gamers
- North America
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
Browse More Related Reports:
Global Mobile Gaming Market Emerging Trends and Future Scope
Global Video Streaming Market Emerging Trends and Future Scope
About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Email: [email protected]
Follow Us: LinkedIn Twitter
SOURCE P&S Intelligence
Share this article