Cloud Gaming Market Size to Reach USD 2.8 Billion in 2023

Global Cloud Gaming Market Overview:

MarkNtel Advisors has recently published a detailed research report on the Global Cloud Gaming Market. The report is specifically tailored to offer valuable insights and support for clients navigating this dynamic market. It focuses on key objectives such as predicting trends, gaining a profound understanding of market perspectives, identifying strategic investment opportunities, and evaluating potential business partners.

Cloud Gaming Market Insights and Analysis

The Global Cloud Gaming Market size is valued at around USD 2.8 Billion in 2023 and is estimated to grow at a CAGR of around 30% during the forecast period, i.e., 2024-30. Our comprehensive report provides a thorough examination of market players, opportunities, and valuable insights, equipping our clients with the indispensable information needed to make well-informed decisions within this dynamically evolving environment.

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Insights into Dominant Segments in the Cloud Gaming Market

By analyzing each Segments, including

-By Gamer Type

Casual Gamers
Avid Gamers
Lifestyle Gamers

Here, Casual gamers dominate the market with the largest share, and the same trend is expected during 2024-30. It attributes principally to the cost-effectiveness & convenience associated with cloud gaming. Moreover, continuous enhancements in the internet services and the introduction of affordable 5G smartphones, which have enabled high speed & low latency streaming, are also expected to boost the demand for cloud gaming among casual gamers over the forecast years.

Furthermore, the Covid-19 pandemic in 2020 that resulted in the home quarantine of a large chunk of the population has also contributed to the increasing number of casual gamers worldwide. Nevertheless, the rising popularity of e-Sports and the growing number of such tournaments that offer lucrative prize money are other crucial aspects projected to fuel the demand for cloud games among casual gamers through 2030.

-By Components

Cloud Gaming Platforms
Content Services

-By Type

File Streaming
Video Streaming

-By Operating Model

-By Device

Smartphones
Tablets
Gaming Consoles
PCs & Laptops
Smart TVs
Head Mounted Displays

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Cloud Gaming Market Geographical Reach:

The Cloud Gaming Market Geographical Reach assesses the distribution and prominence of consumption, highlighting regions that dominate in terms of market size, volume, and promising future growth prospects.

-By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Clients can concentrate their investments on the segments that present the most favourable prospects. This strategic methodology empowers clients to fine-tune their investment portfolio and attain enduring growth within the Cloud Gaming market.

Current Landscape of the Cloud Gaming Market

The key players profiled in the research report are

NVIDIA Corporation
Intel Corporation
Google
Microsoft Corporation
Amazon Web Services Inc.
Advanced Micro Devices
Sony Interactive Entertainment LLC
IBM
Tencent
Alibaba
Apple, Inc.
Ubitus Inc.
Electronic Arts, Inc.
Rainway
Parsec Cloud, Inc.

In light of the ongoing rapid transformations within the Cloud Gaming market, retaining a strategic advantage is paramount for both businesses and investors. At MarkNtel Advisors, we exactly identify and study every notable player, taking into account their recent product launches, mergers, acquisitions, and collaborations. This thorough analysis assists our clients in making more accurate projections and staying competitive in the market.

Cloud Gaming Market Future Prospects

The outlook for Cloud Gaming appears favourable in terms of both revenue share and sales, as evidenced by the market trends. Anticipating continued robust growth over the next five years, market participants are expected to further bolster their portfolios by harnessing technological advancements within the industry. Adding to the market's attractiveness is the widespread application of the product/service across various end-users, allowing market players to establish a solid presence across continents.

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Global Cloud Gaming Industry Recent Developments

In April 2023, LG Electronics (LG) announced expanding the cloud gaming experience on its 2023 TVs by adding 4K (3,840 x 2,160) support for NVIDIA GeForce NOW in over eighty countries while also launching the popular Boosteroid service in over sixty countries. Post the additions of Blacknut & Utomik in September 2022, these new, compelling options will further bolster the suite of cloud gaming services available to LG TV users.
In January 2022, Utomik announced signing a partnership with Samsung to bring Utomik's game subscription service to Samsung Smart TV users globally using its unique hybrid gaming platform. This partnership will provide the ever-growing audience access to Utomik's extensive library of high-quality, handpicked games.
The same year & month, Microsoft announced its plans to acquire Activision Blizzard Inc., a leader in game development & interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft's gaming business across mobile, PC, console & cloud and will provide building blocks for the metaverse.

Frequently Asked Questions

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