New York, United States, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The need for a gaming console, PC, or laptop is eliminated with the advent of cloud gaming, allowing gamers to stream top-tier games on portable devices like laptops, tablets, and smartphones, provided they have a reliable internet connection. Such factors are anticipated to affect the market's progress favorably. Additionally, it is expected that implementing cloud technology in the gaming sector will increase player interest and demand for various games, spurring market expansion throughout the projection period.
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Expansion of Cloud Gaming with the Launch of 5G Drives the Global Market
According to Straits Research, “The global cloud gaming market size was valued at USD 615.30 million in 2021. It is projected to reach USD 17706.48 million by 2030, growing at a CAGR of 45.25% during the forecast period (2022-2030).” Despite the advancement of data networking technology, there are still limitations to mobile cloud gaming. For instance, there are times when it is difficult to find fast broadband infrastructure, and 4G has a poor track record for dependability and speed. It may be difficult to meet performance standards due to players' proximity to cloud servers, last-mile packet loss, and network congestion. Due to 5G's claims to solve these problems, many organizations are expanding into mobile cloud gaming.
5G efficiently uses the signal spectrum through mmWave. mmWave employs more significant bandwidth frequencies to communicate because TV and radio communications primarily use lower frequencies. mmWave is more effective in areas with high user and dense population densities (e.g., stadiums for eSports venues, Internet gaming cafes, etc.). Additionally, gaming traffic might be offloaded in congested areas using an unlicensed frequency.
Growing Government Initiatives Related to Cloud Infrastructure Creates Tremendous Opportunities.
Due to governments' robust cloud infrastructure plans in the European and North American areas, numerous regional start-ups entered the cloud gaming sector. Some include Shadow, Parsec, Blackout, LiquidSky, and others. Additionally, the US government unveiled the Cloud First Initiative, which aimed to cut waste and improve efficiency in the technological services provided by the US federal government by reducing government IT spending and promoting the growth of cloud infrastructure in the region. The European Commission's Data Strategy, Digital Strategy, Industrial Strategy, and EU Recovery Plan all say that cloud computing aims to increase European data sovereignty.
Numerous workstreams will be able to expand due to the European Commission's formation of the European Alliance on Industrial Data, Edge, and Cloud. The EU Cloud Rulebook for cloud services will offer a uniform European framework of regulations, transparency on their compliance, and best practices for cloud use in Europe. These include European marketplaces for cloud services, where users will have a single portal to cloud offerings meeting crucial EU standards and rules. These projects will work together to provide the cloud supply of the future.
Regional Analysis
Asia-Pacific global cloud gaming market share is expected to grow at a CAGR of 44.50% during the forecast period. Gaming services have been designated as one of China's fastest-growing cloud computing businesses, and a wide range of applications may take advantage of these cloud computing capabilities. More cloud-based game operations and development are planned in the future, especially for mobile games. The excellent compatibility of cloud gaming with IPTV and the current technological restrictions on the flow surrounds the potential market for the game on-demand to households in China with a very high-speed connection.
North America is expected to grow at a CAGR of 43.5%, during the forecast period. The Entertainment Software Association estimates that 65% of American adults enjoy playing video games. The country's high desktop, laptop, and smartphone penetration rates allow cloud gaming to grow more quickly. Cloud gaming services combine hyper-scale cloud capabilities, global content delivery networks, and streaming media services to create the next generation of platforms for interactive, immersive, and social forms of entertainment. The rapid growth of cloud gaming in the US is facilitated by the placement of edge data centers throughout the nation and by how simple it is to access cloud gaming in general.
Key Highlights
- Based on devices, the global cloud gaming market is bifurcated into smartphones, gaming consoles, PCs, and tablets. The smartphone segment is the highest contributor to the market and is expected to grow at a CAGR of 47.40% during the forecast period.
- Based on type, the global cloud gaming market is bifurcated into video streaming and file streaming. The video streaming segment is the highest contributor to the market and is estimated to grow at a CAGR of 46.20% during the forecast period.
- Asia-Pacific is the most significant shareholder in the global cloud gaming market and is expected to grow at a CAGR of 44.50% during the forecast period.
Competitive Players
The global cloud gaming market’s major key players are Utomik BV, Nvidia Corporation, Numecent Holdings Ltd, RemoteMyApp SP ZOO, Parsec Cloud Inc., Tencent Holdings Ltd., Google Stadia (Alphabet Inc), and Ubitus Inc.
Market News
- In June 2022, Microsoft made Xbox Cloud Gaming available in Argentina and New Zealand. Over 100 titles are available for Xbox Game Pass Ultimate subscribers to stream to their smartphones, tablets, laptops, and Samsung smart TVs.
- In February 2022, Nintendo acquired SRD Company, Ltd. this acquisition will bolster Nintendo's software development capabilities, improving the company's ability to produce software more quickly and effectively. This will enable Nintendo to create games that are even more refined in the future.
Global Cloud Gaming Market: Segmentation
By Device
- Smartphones
- Gaming Consoles
- PC & Laptops
- Tablets
- Head-mounted Displays
- Smart TVs
By Type
- Video Streaming
- File Streaming
By Gamer Type
- Casual Gamers
- Avid Gamers
- Lifestyle Gamers
- Hardcore Gamers
By Offering
- Infrastructure
- Gaming Platform Service
- Compute
- Memory
- Storage
- Content Service
- PC Service
By Deployment
- Public Cloud
- Hybrid Cloud
- Private Cloud
By Gaming System
- G-Cluster
- PlayStation
- Stream My Game
- Steam in Home Streaming
- Remote Play
- Others
By Regions
- North America
- Europe
- APAC
- Middle East and Africa
- LATAM
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