Global Cloud Gaming Market Size to Reach USD 33,336.3 Million in 2032 | Emergen Research

Vancouver, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The worldwide market for cloud gaming achieved a scale of USD 890.2 Million in 2022. Forecasts from the latest analysis by Emergen Research predict a consistent and substantial Compound Annual Growth Rate (CAGR) of 43.7% throughout the projected period. This growth trajectory is primarily attributed to the expanding global community of gamers, coupled with the trend of live-streaming gaming content on social media platforms. Additionally, the surge in competitive gaming's popularity significantly contributes to the upward trajectory of market revenue.

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Cloud gaming presents the potential to replace the necessity for specialized gaming consoles, enabling players to engage with any game using virtually any device. This versatility empowers game developers to craft more immersive experiences that cater to a significantly broader player audience. The essence of cloud gaming lies in shifting the execution of gaming content away from the user's personal device. Leveraging Content Delivery Networks (CDNs) with strategically located points of presence near population centers, games are streamed to the player's device in a manner reminiscent of video streaming services. This shift has brought about a noteworthy surge in the gamer community, directly fueling the revenue expansion within the market.

A case in point is Twitch, a subsidiary of Amazon.com, Inc., which introduces Twitch Game Streaming—a service enabling users to both play games on their personal devices and stream their gameplay to an audience. An illustrative instance of market growth is Amazon's launch of Luna in 2020, a cloud gaming platform. The harmonious integration of Amazon Luna and Twitch serves to minimize entry barriers for Twitch users while seamlessly connecting them to the very games they observe. This integration is anticipated to be a driving force behind the market's revenue ascent during the forecast period.

The presence of inadequate internet connectivity, substantial latency issues, and an overreliance on the cloud service providers' servers stand as significant impediments to the market's revenue growth.

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Scope of Research

Major Companies and Competitive Landscape

The global cloud gaming market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new services. Some major players included in the global cloud gaming market report are:

• Amazon.com, Inc.
• Electronic Arts, Inc.
• Apple Inc.
• Intel Corporation

• International Business Machines Corporation (IBM)
• Microsoft
• Nvidia Corporation
• Sony Corporation
• Ubitus K.K
• Tencent Holding Ltd.

Strategic Development

• On 21 October 2021, NVIDIA Corporation announced its next-generation cloud gaming platform that delivers GeForce RTX 3080-class gaming on GeForce NOW. With the lowest latency and best resolutions and frame rates in cloud gaming, GeForce NOW RTX 3080 subscription tier gives players access to the biggest generational jump in GeForce history.

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Some Key Highlights From the Report

• The gaming consoles segment is expected to account for largest revenue share over the forecast. Gaming consoles are easy to use, with simple and intuitive interfaces. This makes them a good choice for cloud gaming, as they allow users to easily access and play games without having to navigate through complicated menus or settings.
• The file streaming segment is expected to register a rapid revenue growth rate over the forecast period. This is due to ease in delivering various game data into the user’s device on-demand. In addition, user don’t need to download the data, which is an added advantage, leading to rising demand for file streaming.
• The avid gamers segment is expected to account for largest revenue share over the forecast period. This can be attributed to wide availability of games on cloud without the need to download or purchase games.

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Emergen Research has segmented the global cloud gaming market based on device type, solution, gamer type, and region:

• Device Type Outlook (Revenue, USD Million; 2019-2032)
  • Smartphones
  • Tablets
  • Gaming Consoles
  • PC & Laptops
  • Smart TV
• Solution Outlook (Revenue, USD Million; 2019-2032)
  • File Streaming
  • Video Streaming
• Gamer Type Outlook (Revenue, USD Million; 2019-2032)
  • Casual Gamers
  • Avid Gamers
• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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