The new report by Expert Market Research titled, ‘Global Cloud Gaming Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global cloud gaming market, assessing the market based on its segments like device types, solution types, gamer types, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Cloud Gaming Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 884 Million
• Forecast CAGR (2023-2028): 39.1%
• Forecast Market Size (2028): USD 6392 Million
The growing adoption of devices, such as smartphones and laptops, which are compatible with the cloud gaming apps, coupled with the easy availability of high-speed internet, is driving the demand for cloud gaming applications. The increasing popularity of games with high graphical and control quality with realistic gaming features is also anticipated to be a major propelling factor of the market.
Moreover, the increasing adoption of gaming as a side hobby among the young population will further drive the market growth in the forecast period. In terms of region, the Asia Pacific region accounts for a significant share in the market owing to the advanced cloud infrastructure in the region, increasing number of avid gamers, and rising standards of living.
Cloud Gaming Industry Definition and Major Segments
The method of playing games using remote servers in data centres is known as cloud gaming. In cloud gaming, there is no need to download or install a game, however, the access is based on monthly or yearly subscription. Cloud gaming services often provide a web-based app on the desktop, which contains a series of compressed video frames, and the videos react to the user’s input.
On the basis of device type, the market can be bifurcated into:
• Gaming Consoles
• Personal Computers and Laptops
The market can be bifurcated based on solution type into:
• Video Streaming
• File Streaming
On the basis of gamer type, the market can be divided into:
• Casual Gamers
• Avid Gamers
• Lifestyle Gamers
The regional markets for cloud gaming include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Cloud Gaming Market Trends
The key trends in the cloud gaming market include the increasing sales of gaming laptops owing to the advanced features and realistic gaming experience offered by the product. The growing R&D activities by the game developers aimed towards bolstering the graphics of games are anticipated to be the major trends in the market.
Moreover, the increasing number of internet users and emergence of various online interaction platforms are likely to spearhead the market growth in the coming years. The market will further be aided by the emerging cloud gaming competitions, motivated by the increasing inclination of gaming lovers towards adopting gaming as a full-time profession. Therefore, these developments are anticipated to augment the market growth in the forecast period.
Key Market Players
The major players in the market are:
- IBM Corporation
- NVIDIA Corporation
- Microsoft Corporation
- Google LLC
- Intel Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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