Pune, India, Dec. 15, 2023 (GLOBE NEWSWIRE) -- The global cloud gaming market size was valued at USD 3.37 billion in 2022 and is expected to reach USD 84.97 billion by 2030, exhibiting a CAGR of 46.9% over the forecast period. Fortune Business Insights™ provides this information in its latest research report, titled “Cloud Gaming Market Forecast, 2024-2030”.
The market is expected to grow during the forecast period due to the rising adoption of mobile cloud gaming and online gaming solutions. Increasing Demand for Online Gaming Solutions to Bolster Market Growth.
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Key Industry Development:
Microsoft Corporation announced that it has begun testing Xbox Cloud gaming over the web in response to Apple Inc.'s limitations.
Key Takeaways
- Cloud gaming market size in North America was USD 1.33 billion in 2022.
- Rising Consumer Demand to Bolster Smartphone Segmental Growth
- Video Streaming Segment to Lead the Market Due to Minimum Hardware Requirement
- Hardcore Gamers to Dominate Market Due to High-Quality Streaming Games
Discover the Leading Players Featured in the Report:
“Companies leading the global cloud gaming market are Google Inc. (U.S.), Microsoft Corporation (U.S.), Amazon Inc. (U.S.), Tencent (China), Sony Corporation (Japan), Electronic Arts, Inc. (U.S.), NVIDIA Corporation (U.S.), Broadmedia Corporation (Japan), Intel Corporation (U.S.), Blacknut (France).”
Report Scope
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 46.9% |
| 2030 Value Projection | USD 84.97 billion |
| Base Year | 2022 |
| Cloud Gaming Market Size in 2022 | USD 3.37 billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 140 |
| Segments Covered | Device, Streaming Type, End-User and Geography |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/cloud-gaming-market-102495
Drivers & Restraints:
Rising Adoption of Recent Technologies to Augment Growth
The market is anticipated to grow significantly due to increasing investment by leading companies and the rising adoption of advanced technologies. The key market players focus on reinventing online gaming solutions to improve the gaming experience. Also, the low-latency capability of 5G technology provides better assistance to the gaming platforms.
However, responsiveness and latency issues may hamper the market growth in the coming years.
Segmentation
By Device
- Smartphone
- Consoles
- Laptop/Tablets
- Smart TV
- Personal Computer
By Streaming Type
- Video Streaming
- File Streaming
By End-User
- Casual Gamers
- Avid Gamers
- Hardcore Gamers
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America Dominates Global Market Due to Rising Online Gaming Demand
North America holds the highest global cloud gaming market share during the forecast period due to increasing demand for online gaming solutions. Also, adequate availability of internet infrastructure is expected to bolster the regional market growth. North America stood at USD 0.54 billion in 2021.
Europe is the second leading region for cloud gaming solutions. The regional growth is attributable to rising investment and collaborations among the leading market players.
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Competitive Landscape:
Key Market Players to Adopt Latest Technologies to Maintain Their Market Position
The key market players implement several techniques to develop new services equipped with recent technologies. It includes adopting new advancements in the industry and launching new services with adequate compatibility and feasibility. Also, the leading companies focus on testing their services to avoid bugs and errors while actual utilization.
FAQs
How big is the cloud gaming market?
The global cloud gaming market size was USD 3.37 billion in 2022. It is expected to reach USD 84.97 billion by 2030.
How fast is the cloud gaming market growing?
The cloud gaming market will exhibit a CAGR of 46.9% during the forecast period, 2023-2030.
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