Cloud gaming is a process of playing video games in data centers using remote servers. There’s no requirement to download and install games on a console or a PC. Instead, streaming service providers require a stable and smooth internet connection to send gaming information to a browser or an app installed on the recipient's device. The game is mostly played on the remote server, but one can communicate and watch with everything available locally on their device.
According to Ken Research Analysis, the Global Cloud Gaming Market is expected to witness exponential growth of around 60% CAGR over the next six years (2022-2028) and cross ~US$ 20 Bn revenue by 2028.
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- According to GSMA 2019, there were 5.2 billion smartphone connections globally and by 2025 smartphone usage is expected to reach around 80%. Due to this gaming developers are developing more mobile-based games. So that they can earn more revenue from people adopting the usage of smartphones.
- Poor internet connectivity within some countries acts as a major barrier for the cloud gaming market as it requires high-speed internet with proper bandwidth and setting up such a connection might be expensive. So lag in gaming or proper responsiveness of the game while playing might be an issue.
- The pandemic of COVID-19 has substantially accelerated the use of cloud gaming devices and services as due to lockdown restrictions people were mostly locked in their places and cloud gaming did not require any additional hardware and can be played almost on any device turning it into their pass times during lockdown.
Key Trends by Market Segment
By Offering: In the Global Cloud gaming market, the Gaming Platform Services segment is the fastest growing during the forecast period.
- Gaming Platform Services reduce the limitations based on graphics performance, storage requirements, and processing power and provide an amazing gaming experience.
- With the help of Gaming Platform Services gamers don’t have to wait for downloading and installation of the game which provides an added advantage.
- In 2022, Meta launched the game development platform Crayta to Facebook Gaming’s cloud streaming service that lets one build and play games with friends in real time.
By Device: Tablets, PC & Laptops segment holds the largest market share in 2021
- Early acquisition of Tablets, PC & Laptops led to the development of innovative games as gamers were already using PC & tablets from before so it has already captured the market and these devices are expected to still capture the largest market share because devices are constantly updating their configuration for better performance.
- In June 2022, Microsoft launched Xbox Cloud Gaming in New Zealand and Argentina. Ultimate subscribers of XBOX Game Pass can stream more than 100 games to phones, tablets, PCs, and Samsung TVs. Xbox Cloud Gaming is now available in 28 countries and is powered by custom Xbox Series X consoles.
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By Solution: The File Streaming Solution segment of the Global Cloud Gaming Market is expected to have the largest market share during the forecast period
- This technology allows players to have access to the game after downloading a small number of files to their devices. It allows game developers to decrease the cost of media production and send patches to gamers.
- The growth of the File Streaming Segment is mainly due to its ability to perform after downloading a little portion of the file the gamers provide file patches to the developers for reducing the amount of cost of the media item.
- It can be used or played on any kind of device without the help of any technology due to which the latency issue has been reduced to a high level thus enhancing the video streaming while enjoying the game.
- In 2022, NVIDIA Corporation launched an upgraded GeForce RTX 3080 graphics card with 12GB of memory for the fastest frame rates, low latency, and highest resolutions for enhanced video streaming in the Cloud Gaming Market.
By End-user: Hardcore gamers segment of the Global Cloud Gaming market is estimated to account for the largest market share in 2022
- Hardcore gamers play games mostly as a hobby and spend a large amount of money and significant of time on them.
- Another important reason is that improvement in 5G resulting in high speed is leading to more adoption of cloud gaming by Hardcore gamers.
- Driven by the increase of powerful smartphones, there has been a rise of 40% in hardcore gamers in India post-COVID.
The Avid gamers segment is forecasted to be the fastest growing segment from 2022 to 2028
- They mostly depend on Youtube gaming for reviews and as the popularity of video games is increasing, gamers are getting addicted to mobiles for their satisfaction.
By Geography: The North America Cloud Gaming Market is forecasted to be the fastest growing market during 2022-2028.
- Cloud gaming market growth is mainly driven due to an increase in people's inexpensiveness in the region and the region's strong economic foundation, combined with updated technologies.
- Furthermore, free and mobile games are boosting the region's market growth. The high expendable income is driving growth, along with the updated technologies.
- According to NewZoo number of gamers in North America in 2020 was 210 Million.
The Asia-Pacific cloud gaming market is estimated to account for the largest market share in 2022.
- Asia-Pacific is set to be the most appealing market for business expansion for key shareholders across the globe.
- The increasing internet-dependent population, initiatives by the government, and financial growth are a few important market factors that are making Asia-Pacific an emerging market for all kinds of players.
- According to NewZoo number of gamers in Asia pacific in 2020 was 1447 Million.
- According to NewZoo over 55% of the world’s three billion gamers will be from Asia Pacific by 2024.
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Competitive Landscape
The Global Cloud Gaming Market is highly competitive with more than 500 players which include globally diversified players, regional players as well as a large number of country-niche players in the Cloud Gaming market. Most of the country-niche players are start-ups in Cloud Gaming.
The large global players comprise about 10% in terms of the number of competitors followed by country niche players which account for ~65% of the number of the competitors. Most of the country-niche players are start-ups. Some of these who successfully evolve to create application-specific solutions often get acquired by large global players seeking to grow and diversify quickly.
The Leading Country Niche players such as Parsec Cloud, Inc., Shadow, Rainway, and Ubitus K.K. are highly focused on providing a significant number of Cloud Gaming Solutions.
Recent Developments Related to Major Players
- In 2021, NVIDIA Corporation collaborated with Electronic Arts Inc. by bringing HIT Games to increase GeForce NOW’s gaming platform
- In 2021, Blacknut collaborated with Communications and Entertainment Group NOS to provide a proper gaming experience with the help of 5G across Portugal and also aims to offer around 450+ games over the 5G network.
- In 2021, Tencent launched Level Infinite to deliver high-quality games to a global audience by offering technical and production assistance.
- In 2022, NVIDIA Corporation launched an upgraded GeForce RTX 3080 graphics card with 12GB of memory for the fastest frame rates, low latency, and highest resolutions.
- In 2022, Tencent Games decided to Publish PUBG Mobile and PUBG Mobile Lite under Banner of Level Infinite.
Conclusion
The Global Cloud Gaming Market is forecasted to continue an exponential growth that is witnessed since 2017. It is primarily driven by 5G technology’s low latency capability and the increasing number of gamers across the globe. Though the market is highly competitive with over 500 participants, few global players control the dominant share, and regional players also hold a significant share.
Note: This is an upcoming/planned report, so the figures quoted here for market size estimate, forecast, growth, segment share and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.
Market Taxonomy
The Global Cloud Gaming Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by Offering, Device Type, Solution, End User and Geography. In addition, the report also covers the market size for each of the four regions of the Global Cloud gaming markets. The revenue used to size and forecast the market for each segment is US$ billion.
By Offering
- Infrastructure
- Gaming Platform Services
By Device Type
- Smartphones
- Tablets
- Gaming Consoles
- PCs & Laptops
- Smart TVs
- Head-Mounted Displays
By Solution
- Video Streaming
- File Streaming
By End User Segment
- Casual Gamers
- Avid Gamers
- Hardcore Gamers
By Geography
- NORTH AMERICA (USA, Canada, Mexico)
- EUROPE (UK, France, Germany, Italy, Spain, Rest of Europe)
- ASIA-PACIFIC (China, India, South Korea, Australia, Indonesia, Japan, Rest of Asia Pacific)
- LAMEA (Latin America, Middle East, Africa)
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