Global Cloud Gaming Market to Reach USD 13,256.8 Million By 2028

 Posted on: Nov-2022 | ICT & Telecommunications

The Global Cloud Gaming Market Was Worth Around USD 1,510.4 Million in 2021 and is Predicted to Reach Around USD 13,256.8 Million by 2028, With A Compound Annual Growth Rate (CAGR) of Roughly 44.6% Over the Forecast Period.

Cloud gaming, also known as "gaming on demand," is a type of online gaming that allows users to play video games without having to download or install them on their devices. Instead, the games are streamed from a remote server to the user’s device, and the user can play them in real time. Cloud gaming is a relatively new concept, and there are currently only a few companies that offer this type of service. However, it is expected to grow in popularity in the coming years as more and more people adopt broadband Internet connections and as technology improves.

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Cloud Gaming Market Growth

The growing number of gaming devices and audiences is projected to fuel the implementation of cloud gaming, which, in turn, will drive this market’s growth in the future. Technological advancements and innovations in graphics that show realistic views are attractive to new users and gamers across the world.

The expanded use of cutting-edge technology and rising investments from prestigious companies will propel the global cloud gaming market's growth. The top market participants focus on reinventing online gaming solutions in order to improve the gaming experience. Additionally, the low-latency capability of 5G technology offers improved support for gaming systems. The demand for mobile games has surged as a result of the many technological advancements in cloud gaming, including the launch of VR, AR, and 5G. Expanding the market also benefits from better network connectivity, instant-play games, and gameplays that don't require download or installation on almost all platforms and gadgets, including Android, Linux, Mac, iOS, and Chrome OS.

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Growing Adoption of Cloud-Based Games

Computing resources have become more economical, available, and powerful due to the rapid development of the storage and processing industries and the success of the internet. This technological advancement has enabled awareness of a new computing technology called cloud computing. The cloud constantly updates and maintains a backup of the games that are stored on the cloud platform. This eliminates the need for physical copies of the software, provides easy access to users, and minimizes the overall cost of gaming. As a result, game developers and consumers find cloud gaming a cost-effective solution, which is expected to propel the growth of the global cloud gaming market in the near future.

Latency and responsiveness issues are limiting market potential.

On a cloud platform, game streaming requires a low latency network with high bitrates and enough bandwidth. However, in some nations, the cost of setting up an internet connection with the necessary performance may be prohibitive. If the proper network and bandwidth requirements are not met, latency and responsiveness may be a problem. However, the limiting constraint may be eliminated in the future as telecom providers start to offer high-speed internet and important corporations, like Microsoft Corporation and Google LLC, invest in data servers.

Cloud Gaming Market Scope Segmentation

Attribute

Details

Market Size in 2021

1601.1 USD Million

Estimated Market Size in 2028

14022.6 USD Million

CAGR Growth Rate

44.6% CAGR

Historical Year

2016 to 2021

Forecast Years

2022-2028

Segmentation

Type, Cloud Type, Device, Gaming Type and Region

By Type

  • Video Streaming
  • File Streaming

By Cloud Type

  • Public
  • Hybrid
  • Private

By Device

  • Smart Phones
  • Tablet
  • Gaming Console
  • PCs & Laptops
  • Others

By Gamer Type

  • Casual Gamers
  • Avid Gamers
  • Hardcore Gamers

Major Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East & Africa

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization


Cloud Gaming Market Segmentation

Based on type, the video streaming segment dominated the global industry in 2021 and accounted for the highest revenue share of more than XX% of the overall revenue. 

Based on the cloud type, the public is the largest type in the cloud gaming market, and it accounted for the maximum revenue share of over 65.79% of the overall revenue. 

Based on the device, the gaming console segment had the most significant revenue share, accounting for around 44.0% of the total market in 2021. The smartphones segment accounts for more than XX% of the market revenue and is expected to grow at the second-highest CAGR over the forecast period.

Based on the gamer type, cloud gaming is bifurcated into casual gamers, avid gamers, and hardcore gamers. Casual gamers segment dominated the global industry and account for more than half the market share as of 2021 are expected to grow the segment with a CAGR of over XX%.

Regional Insights

Asia Pacific is the largest segment of the cloud gaming market in terms of region. The region's growth is driven by the fast adoption of technologies in China, India, and South Korea, for gaming. China is predicted to dominate the market over the projected period owing to growing telecommunications and 5G infrastructure expenditures. North America is expected to make significant growth in cloud gaming market shares due to the early acceptance of cloud technology and increasing demand for online gaming. Following North America, the demand for cloud gaming is highest in Europe. Germany, France, and the U.K. are major country markets for the cloud gaming market.

Cloud Gaming Companies  

  • Amazon.com, Inc.
  • IBM (International Business Machines Corporation)
  • Simplay
  • Electronic Arts, Inc.
  • LiquidSky Software, Inc
  • Google Inc.
  • RemoteMyApp
  • GameFly, Inc
  • Microsoft Corporation
  • Hatch Entertainment Ltd.
  • NVIDIA Corporation
  • Cloudzen
  • Sony Corporation
  • Parsec Cloud, Inc.
  • Ubitus Inc.
  • Crytek GmbH 
  • Samsung Electronics 
  • Blade (Shadow)

Recent Developments:

  • In June 2018: NPTEL has done a collaboration with IBM to Launch First-Of-Its-Kind Blockchain Course
  • In July 2017: Ubitus Inc. provided the world’s first HTML5-based commercial cloud gaming technology to Yahoo Japan.
  • In March 2018: Parsec Cloud, Inc. Is supported on Simplay’s Cloud Gaming Machines.
  • In January 2018, Azure ExpressRoute updates – New partnerships, monitoring, and simplification allows enterprise customers to privately and directly connect to Microsoft’s cloud services, providing a more predictable networking experience than traditional internet connections.

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