Global Cloud Gaming Market Overview:
According to MarkNtel Advisors study the Global Cloud Gaming Market size was valued USD 2.8 Billion in 2023 and is projected to grow at around 30% CAGR during the forecast period, i.e., 2024-30. The growth of the market would be propelled mainly by the mounting demand for low latency & high-speed gaming experiences facilitated through the 5G technology that enables users to seamlessly stream XR games, coupled with the growing penetration of smartphone users & the internet and the proliferation of immersive & competitive mobile gaming.
Key Findings of the Study: Cloud Gaming market
Global Cloud Gaming Market Driver:
Ever-Increasing Consumer Demand for Seamless Gaming Experiences across Different Devices – Cloud gaming enables users to access & play games on different devices like smartphones, tablets, smart TVs, & low-spec PCs without the need for high-end gaming hardware or even regularly upgrading those systems to keep up with the latest gaming requirements. This accessibility & device flexibility appeal to a massive audience, including casual gamers who may not have powerful PCs or dedicated gaming consoles, thereby fueling the adoption of cloud gaming. Hence, by streaming games from remote servers, cloud gaming reduces the initial investment and offers a cost-effective alternative for users to access an extensive range of games without having to buy individual titles, i.e., the prime aspect projected to drive the Cloud Gaming Market during 2024-30.
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Scope of the Cloud Gaming Market Report Segmentation
-By Components
- Cloud Gaming Platforms
- Content Services
-By Type
- File Streaming
- Video Streaming
-By Operating Model
- B2B
- B2C
-By Device
- Smartphones
- Tablets
- Gaming Consoles
- PCs & Laptops
- Smart TVs
- Head Mounted Displays
-By Gamer Type
- Casual Gamers
- Avid Gamers
- Lifestyle Gamers
For more detailed information about the Cloud Gaming market report, click here – https://www.marknteladvisors.com/research-library/global-cloud-gaming-market.html
Geographical analysis:
-By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Of all regions globally, Asia-Pacific expects the largest Cloud Gaming Market share during 2024-30. The various initiatives taken by governments of different countries for infrastructural developments associated with the 5G technology and the mounting utilization of cloud gaming platforms owing to their cost-effective nature are the prime aspects driving the regional market. Besides, increasing mergers & acquisitions among the leading industry players & cloud service providers to expand their offerings are also fueling the cloud gaming market growth across Asia-Pacific.
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.
Current Landscape of Cloud Gaming Market
The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Cloud Gaming market. The research report profiles major players, including
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- NVIDIA Corporation
- Intel Corporation
- 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.
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