New York, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Persistence Market Research predicts that from 2022 to 2032, the cloud gaming market will grow at a CAGR of 41.7%. By the end of 2032, the cloud gaming market is expected to be worth US$ 42.35 billion, according to the analysis.
Gaming-as-a-service, often known as cloud gaming, is a type of gaming service that enables users to access the hardware and software characteristics of a device that is part of a data centre or a server and use that technology to play the video games of their choice. This is the main benefit that cloud gaming provides. It enables anyone without the appropriate gaming hardware to play video games using the hardware they now own.
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“The cloud gaming market is still in its nascent stage. This technology can become a great market and trend in the future, provided it overcomes its weaknesses, which are the unavailability of data centers and slow Internet speed. The initial investment needed for this market is huge, and only if these challenges can be dealt with, cloud gaming could become the future of gaming”, says a Persistence Market Research analyst.
Key Takeaways from Market Study
- By device type, PCs and laptops will hold the largest market share of the cloud gaming market.
- The market share of cloud gaming via smartphones is estimated to increase at a CAGR of 37.2% through 2032.
- By gamer type, the professional gamers segment is estimated to witness staggering growth at a CAGR of 38.7%.
- By region, North America is estimated to be the market leader for cloud gaming with a share of 32.6%, followed by East Asia with 22.4% and Europe with 20.7%.
Cloud gaming solutions and services are provided by organisations including Amazon, Google, Microsoft, Nintendo, Parsec, and The Gaming Project. Users can access these cloud gaming providers' services through cellphones, PCs, game consoles, and emulators. Games in the cloud are made to instal and orchestrate servers quickly. The main benefits of cloud gaming include accessibility, the elimination of download needs, and the absence of storage-related concerns.
Speed Offered by 5G Can Help Development of Cloud Gaming Industry
As was previously indicated, one of the issues facing the industry for cloud gaming is poor Internet speeds, but the main issue is a lack of data centres. The use of 5G technology can somewhat lessen this challenge.
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All throughout the world, initiatives are being taken to expand 5G Internet accessibility. This would enable users to play cloud video games at a suitable speed, regardless of the size of the game, which will be very beneficial for cloud gaming firms. In the upcoming years, this might draw a lot more individuals to the cloud gaming market.
Key Players :
- Microsoft
- The Gaming Project
- Nvidia
- Parasec
- Shadow.tech
- Polystream
- Playgiga
- Amazon
- Playkey
- Ubisoft
- Nintendo
- Others
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Cloud Gaming Industry Survey by Category
By Device Type:
- Smartphones
- Tablets
- Gaming Consoles
- PCs & Laptops
- Smart TVs
- Head-Mounted Displays
By Gamer Type:
- Professional Gamers
- Casual Gamers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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