Portland, OR , Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cloud gaming market generated $244.8 million in 2020, and is expected to reach $21.95 billion by 2030, witnessing a CAGR of 57.2% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Advantages such as more affordability as compared to conventional gaming consoles and independent operation mode of technologies drive the growth of the global cloud gaming market. However, high latency issues and the offering of lesser details as compared to traditional gaming platforms hinder the market growth. On the other hand, new-age network evolutions and enhanced security and privacy present new opportunities in the coming years.
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Covid-19 Scenario:
- Owing to lockdown restrictions implemented by governments of many countries, the time spent on playing video games increased by nearly 71%. This led to the growth of the cloud gaming market during the pandemic.
- According to the report by Reuters, the number of users for cloud gaming platforms raised to more than 932 million in 2020. This showed a significant rise in market growth.
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The report offers detailed segmentation of the global cloud gaming market based on offering, device type, solution, and region.
Based on offering, the infrastructure segment contributed to the highest share in 2020, accounting for nearly four-fifths of the total share, and is estimated to maintain its leadership status during the forecast period. However, the gaming platform services segment is expected to witness the largest CAGR of 58.3% from 2021 to 2030.
Based on solution, the video streaming segment accounted for the highest share in 2020, contributing to nearly two-thirds of the total share of the global cloud gaming market, and is projected to maintain its lead position during the forecast period. However, the file streaming segment is estimated to witness the largest CAGR of 59.7% from 2021 to 2030.
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Based on region, Asia-Pacific held the highest share in 2020, contributing to more than two-fifths of the total market share, and is estimated to maintain its dominant share by 2030. Moreover, this region is expected to portray the highest CAGR of 58.5% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global cloud gaming industry analyzed in the research include Blacknut, Amazon Luna, Microsoft Corporation, Google LLC, Shadow, NVIDIA Corporation, Ubitus K.K., Tencent, Sony Group Corporation, and Vortex (RemoteMyApp) Sp. z o. o.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
