Pune, July 24, 2024 (GLOBE NEWSWIRE) -- Game Streaming Market Size & Growth Analysis:
“According to SNS Insider Report, The Game Streaming Market held a value of US$ 9.50 billion in 2023 and is projected to reach US$ 26.20 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 11.94% over the forecast period of 2024-2032.”
Growth Drivers
The game streaming market is growing with the increasing use of smartphones and portable gadgets is helps to drive the mobile gaming industry. To capitalize on this trend, game streaming services are developing mobile apps for effortless access, refining the streaming technology to reduce latency on mobile networks, and adapting their platforms to improve the gaming experience on mobile. They are also leveraging unique features like touch controls and accelerometer inputs to raise gameplay. Platforms like Twitch, at the beginning, targeted gaming, to improve consumer engagement, these systems are incorporating interactive features which include chatbots and polls, boosting target audience participation. For instance, Twitch remains the dominant platform with over 2.5 million concurrent viewers daily, observed by using YouTube Gaming with around 1.4 million visitors, indicating a high level of user engagement.
The average user spends 2.5 hours daily on game streaming platforms, a 12% growth in 2023, demonstrating a clear increase in user interaction and spending time on its content. With over 3 billion active game players globally, and over half identifying as male, the gaming network is thriving, with many taking their interest to the next stage by using subscribing to a minimum of one gaming service. The growing thrust of esports, with over 3,000 active players inside the USA alone, serves as some other testament to the ever-developing reputation of gaming. The arrival of the 5G technology is poised to revolutionize game streaming. Predicted 2.29 billion 5G connections by way of 2025, with suddenly widespread 5G coverage. 5G boasts low latency and an extremely good data transfer rate, achieving speeds of up to 10 Gbps, some distance surpassing previous mobile network generations.
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Major Players Analysis Listed in this Report are:
- Meta Platforms Inc.
- Parsec Cloud Inc.
- GosuGamers
- Alphabet Inc. (Youtube)
- Amazon.com Inc.
- NVIDIA Corp.
- AfreecaTV Corp.
- Apple Inc.
- Genvid Holdings Inc.
- Huya
- Sony Group Corp
- Other Players
Game Streaming Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 9.50 Billion |
| Market Size by 2032 | USD 26.20 Billion |
| CAGR | CAGR of 11.94% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • The expansion of high-speed internet and the 5G technology enable smoother and more efficient game streaming experiences, reducing latency and improving performance. • The increase in the number of gamers and the growing availability of affordable gaming devices and mobile gaming boosts the demand for game streaming. |
Recent Developments
- AfreecaTV announced the introduction of a new live-streaming platform, SOOP, as part of its efforts to create a diverse and welcoming community for its users, streamers, and partners, In January 2024.
- Optus Partnered with Pentanet in March 2023 to offer cloud gaming to Optus customers using NVIDIA's GeForce NOW service and taking advantage of 5G technology.
- GeForce now unveiled Aim-Training Challenge August 2023, this initiative exemplifies how platforms are going beyond basic streaming by offering features like the Ultimate KovvaK's Challenge to help gamers refine their skills.
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Segment Analysis
By Solutions, Web-based platforms held the largest market share 59.89% in 2023 due to the popularity of subscription-based models offering extensive game libraries at a cost-effective and convenient price point. App-based game streaming is also expanding, prompting developers to optimize mobile gaming experiences.
By Revenue Model, Advertisement remains the leading revenue segment. Streamers are diversifying their income streams through paid subscriptions, tiered memberships, and exclusive content offerings. Major platforms have adopted subscription models, providing access to vast game libraries for a recurring fee.
By Platform Solutions, PC games dominated the market in 2023 with 47% revenue share due to their association with prominent e-sports titles such as League of Legends, and Counterstrike. Mobile games are also experiencing significant growth 12.01% CAGR, with mobile game streaming platforms capitalizing on the burgeoning e-sports scene in this segment.
Game Streaming Market Key Segmentation:
By Solutions
- Web based
- App based
By Revenue Model
- Subscription
- Advertisement
- Others (Donations, Merchandise, Brand deals and sponsorships)
By Platform Solutions
- PC Games
- Mobile Games
- Console Games
Regional analysis
North America dominated the market and accounted largest revenue share 39.89% in 2023 because of its strong focus on community building among streamers and the presence of major players such as Twitch, Facebook Gaming, and others attract millions of viewers and further solidifies North America's dominance. Major e-sports events streamed on these platforms contribute to their growth.
The Asia Pacific market is anticipated to exhibit the fastest CAGR of 12.05% due to the popularity of cloud gaming services and established platforms like Douyu, Huya, and Bilibili in China while India's market is experiencing a boom due to the growing adoption of smartphone, affordable mobile data plans, and the growing recognition of mobile e-sports tournaments. The European market exhibits a diverse landscape with distinct approaches across countries. The UK market thrives on various monetization strategies, including subscriptions and virtual item revenue. France prioritizes accessible gaming experiences through cloud services and device optimization. Germany has emerged as a significant e-sports hub, hosting major tournaments and attracting substantial audiences and investments.
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Key Takeaways
- The market is fuelled by the increasing popularity of mobile gaming and e-sports. Platforms that adapt to this trend and cater to mobile gamers.
- Game streaming platforms are moving beyond traditional subscriptions to generate revenue through microtransactions, in-game purchases, and virtual goods sales.
- Platforms that prioritize accessibility across devices and offer interactive features like chatbots and polls to enhance user engagement are likely to gain a competitive edge.
- The report highlights the significance of understanding regional market dynamics. Understanding factors like community building, cloud gaming adoption, and e-sports culture in different regions is crucial for tailored strategies.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Game Streaming Market Segmentation, by Solutions
8. Game Streaming Market Segmentation, by Revenue Model
9. Game Streaming Market Segmentation, by Platform Solutions
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. Use Case and Best Practices
14. Conclusion
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