Westford, USA, Jan. 09, 2023 (GLOBE NEWSWIRE) -- With cloud computing, users need not download or install anything to play a game, so it saves a lot of time and space. Users also don't have to worry about system specifications because the game is hosted remotely, and they can easily control it. Furthermore, new-age gamers wish to access their games from various devices at their leisure. Before cloud gaming, gamers were not ably accessible from another device until they installed it in the first place. Now with cloud computing, it is easy to access all the games from any site. This adaptability appeals to new-age gamers because they can play games anytime and from any location. These factors are expected to propel the cloud gaming market to new heights.
Continuous technological advancements have raised the appeal of cloud gaming in multiplayer settings, growing use of cloud gamification, improved cross-platform gaming experience, and untapped potential in emerging countries offer positive growth opportunities. SkyQuest estimates that in 2021-2022, around 22.3 million paying users of cloud gaming services spent $1.6 billion on cloud gaming services. According to forecasts. By the end of 2025, the cloud gaming industry's paying users will triple, while revenues will quadruple.
Get a sample copy of this report:
https://skyquestt.com/sample-request/cloud-gaming-market
Huge Smartphone User Base Globally to Spur Cloud Gaming Market Growth
The smartphone category is the most significant revenue generator in the market, accounting for roughly $1,645.6 million in revenue in 2021-2022, with a CAGR of around 43% expected for the forecast period. The growth rate is projected due to the cost-effectiveness of mobile gaming, which has seen a steady increase in the last five years. Furthermore, the spike in demand for mobile games is a direct result of cloud gaming's multiple technological developments, such as the advent of AR, VR, and AI. In addition, the introduction of 5G networks and the availability of unlimited data plans are key factors helping the global development of cloud gaming.
According to SkyQuest's market analysis, allowing users to enjoy gaming from anywhere is crucial, leading to the rapid rise of the mobile gaming company. Furthermore, cloud gaming aspires to go further by enabling environment-agnostic consumption and a cross-device experience. Moreover, cloud-hosted games do not require a specific local platform to function. Such factors create a great opportunity for two stakeholders: publishers may focus on compatibility with a single gaming engine and platform. At the same time, users can play the same game on several devices.
Video Streaming Segment to Dominate the Market Thanks to Increasing Audience Count
Video streaming is becoming increasingly popular since it eliminates the need for additional hardware devices. Furthermore, video streaming services allow consumers to access and play games from any device and location while maintaining low latency via the Internet. As a result, according to SkyQuest's research insights, the game live-streaming viewership in emerging economies would increase by +24.5% year on year to 202.3 million. As a result, vendors have increased their attention on developing systems that deliver a better gaming experience, propelling the worldwide cloud gaming industry. In addition, many prominent players, including GeForce Now, LiquidSky, and Shadow, Vortex, allow video streaming games.
The research thoroughly examines major segments, trends, drivers, restraints, the competitive landscape, and significant market factors. In addition, the market report discusses how market participants dominate the respective segments with particular emphasis on understanding the key measures they have taken to lead those market segments.
Browse summary of the report and Complete Table of Contents (ToC):
https://skyquestt.com/report/cloud-gaming-market
Rise in the Presence of Leading Cloud Gaming Service Providers to Boost the Cloud Gaming Industry
The existence of multiple data centers and servers, as well as high-speed Internet, makes cloud gaming considerably more accessible to consumers in the United States. North America is a region where most individuals of all ages enjoy video games and have greater access to gaming consoles, head-mounted displays, PCs, and laptops. As a result, the region's market value is predicted to reach US$ 12.36 billion by 2032. The region is home to many prominent video game producers, cloud gaming solutions, and service providers.
The Asia Pacific region has a solid competitive and professional gaming culture. East Asia has a sizable video game industry, which includes China, Japan, and South Korea. Regarding video game creation, Japan is recognized as one of the critical countries. The research report analyses the market by regional dynamics, highlighting the consumption of the product/service in the region and outlining the variables influencing the market within each region.
Key Advancements in Cloud Gaming Market
- Jio has unveiled a beta version of its cloud gaming platform JioGamesCloud. Nvidia's GeForce Now is a cloud gaming platform that Jio has licensed for its platform. Cloud gaming allows users' devices, such as PCs, phones, tablets, and set-top boxes, to get games directly from a server.
- Utomik has announced a partnership with Samsung to provide Utomik's game subscription service to Samsung Smart TV consumers worldwide via its unique hybrid gaming platform. It will employ a hybrid gaming platform, allowing players to play on any device and shift to other devices, utilizing both innovative download technology and cloud gaming technology based on device and context.
- Microsoft has made Xbox Cloud Gaming available in Argentina and New Zealand. In addition, Xbox Game Pass Ultimate subscribers can stream over 100 games on phones, tablets, PCs, and Samsung TVs. Xbox Cloud Gaming, powered by special Xbox Series X consoles, is currently accessible in 28 countries.
- ATechnos has launched a premium cloud gaming as a service platform. It contains approximately 500 games for users of all ages in genres such as board, casual, action, arcade, sports, and mystery, as well as enhanced VR games with more realistic and intense action.
New companies enter the market while existing players with resources engage in mergers and acquisitions. Given the growing popularity of gaming services, the new companies have all been able to obtain investment. They will continue to see an increase in funding in the coming years as they work towards market expansion while attempting to improve their market share. The market report examines some of the main methods industry participants can use to strengthen their businesses in this highly competitive market.
Speak to Analyst for your custom requirements:
https://skyquestt.com/speak-with-analyst/cloud-gaming-market
Prominent Players in the Cloud Gaming Market
- Amazon Luna
- Google LLC
- Blacknut
- NVIDIA Corporation
- Microsoft Corporation
- Sony Group Corporation
- Shadow
- Ubitus K.K.
- Tencent
- Vortex (RemoteMyApp Sp. z o. o.)
Related Reports in SkyQuest’s Library:
Global Document Analytics Market
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com
