The global cloud gaming services market is anticipated to attain a CAGR of ~50% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of end-user into casual gamers, lifestyle gamers, avid gamers, and others, out of which the avid gamers segment is anticipated to gain the largest share over the forecast period, as avid gamers are devoted for gaming, especially online games, and constantly try new games. Moreover, avid gamers make the maximum in-app purchases and actively participate in live-streaming. Based on device type, the smartphones segment is anticipated to hold the largest share in the market over the forecast period owing to the rising demand for smartphones amongst the population, and growing per annum sales of mobile phones. Over 1.5 billion smartphones were sold in 2019.
The global cloud gaming services market is estimated to grow on the back of increasing popularity of cloud gaming platforms, growing approval of gaming amongst youngsters, and easy availability of smartphones. The growing digitalization and penetration of internet is estimated to further boost the market growth. Cloud gaming is the next level of live gaming and digital gaming, which is becoming very widespread globally, resulting in up-surge in the demand for platforms and services. Such factors are estimated to boost the market growth.
On the basis of regional analysis, the global cloud gaming services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is forecasted to attain the largest market share throughout the forecast period owing to the rapidly growing young population, as gaming is popular amongst youngsters, along with technological advancement and internet penetration in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Penetration of Internet to Boost the Market Growth
According to the statistics by the World Bank, more than half of the world has access to internet, i.e., 56.727% of the total global population, as of 2019.
The up surge in the penetration of internet has increased the reach of cloud gaming services. Increasing adoption of cloud technology, along with availability of fast internet connection, is estimated to boost the market growth. Moreover, the online gaming industry experienced a boom during the COVID-19 lockdown, which is further expected to significantly boost the market growth in the near future.
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However, requirement of high investment is expected to operate as key restraint to the growth of the global cloud gaming services market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global cloud gaming services market which includes company profiling of Tencent Holdings Ltd., Advanced Micro Devices, Inc., Sony Group Corporation Intel Corporation, Google LLC, NVIDIA Corporation, Ubitus K.K., RemoteMyApp Sp. z o.o., LP Technologies LLC, and PlayGiga S.L. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cloud gaming services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
