Global Cloud Gaming Market Size, Share, and COVID-19 Impact Analysis, By Streaming Type (Video Streaming and File Streaming), By Device (Smartphone, Laptop/Tablets, PC’s, Smart TV, and Consoles), By Gamer Type (Casual Gamers, Lifestyle Games, Avid Gamers, and Hardcore Gamers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

Global Cloud Gaming Market Size is expected to be worth USD 1.30 billion in 2021 and is estimated to reach up to USD 41.11 billion by 2030, at a compound annual growth rate (CAGR) of 41.10% from 2022 to 2030. Implementing cloud technology in the gaming industry is going to boost player interest in and demand for a variety of games, spurring the market's expansion over the course of the projected year. Additionally, with the advent of cloud gaming, players no longer need to regularly update the hardware in their gaming console, PC, or laptop to play top-tier games on portable devices like laptops, tablets, and smartphones with fast network connectivity. These factors are expected to have a beneficial effect on the market's growth.

The industry is expected to expand as a result of better cross-platform gameplay's popularity and the growing adoption of cloud gaming, both of which improve the gaming experience. The demand for cloud gaming is rising as a result of increased internet usage and the availability of cloud-based games. As network infrastructure advances, such as 5G, better bandwidth and reduced latency are made possible, allowing uninterrupted XR (augmented reality and virtual reality) game transmission.

COVID-19 ANALYSIS

Manufacturing and supply chain industries have been severely disrupted by the COVID-19 outbreak. Due to the pandemic, manufacturing facilities experienced temporary shutdowns or 50% operating capacity, supply chain disruptions, material shortages, and closures of international borders, among other things. The supply of hardware items including smartphones, smart TVs, laptops, personal PCs, and gaming consoles is negatively impacted by this. However, because of lockdown regulations in different places, the need for cloud-based gaming equipment, services, and solutions increased throughout the pandemic. Since cloud-based games can be played on any device and don't call for additional hardware, demand for them rose during the lockdown. To pass the time during the lockdown, people all across the world used cloud-based games and digital entertainment sites.

TREND

Growing Adoption of Smartphones Propel Market Growth

The many technical developments in cloud gaming, such as VR, AR, and 5G, have significantly increased the demand for mobile games. Given that the mobile gaming industry mostly depends on cutting-edge technology, this tendency is not surprising. According to a survey done by the Mobile Video Industry Council, mobile operators anticipate that by 2022, cloud gaming would account for 25–50% of 5G data traffic. Due to smartphones becoming more and more popular, game developers are aiming to offer players mobile gaming environments. Network providers are investing in mobile gaming as a way to enhance the gaming experience through high-performance connectivity. Moreover, utilizing cloud computing, cutting-edge smartphones, and 5G infrastructures on all locations and platforms will also improve the gaming experience for players. A high-quality, low-latency gaming experience might be available on mobile devices.   

DRIVERS

Low-latency Capabilities Drive Market Growth

Market participants are attempting to reduce technical barriers and related high costs to cater to the many different types of gamers that are available worldwide. Low latency must be attained in gaming services to deliver a realistic and unique gaming experience. The 5G technology's low latency capabilities give providers even more assistance. Cloud-based gaming is being revamped to provide a better gaming experience with the arrival of 5G. For instance, a Wipro whitepaper claims that to have a better gaming experience, many gamers plan to upgrade to 5G technology and spend more money in October 2020. Therefore, it is projected that 5G technology will spur even more industry expansion because of its low latency characteristics.

RESTRAINT

Responsiveness and Latency Problems Limit Market Growth

Game streaming on a cloud computing platform needs a low latency network with adequate bandwidth and high bitrates. However, in some countries, it may be prohibitively expensive to establish an internet connection with the required performance. Responsiveness and Latency issues could arise if the appropriate network and bandwidth requirements are not satisfied.

SEGMENTATION INSIGHT   

The Global Cloud Gaming Market is segmented by Streaming Type, Device, Gamer Type, and Region. Based on the Streaming Type, the market is categorized into Video Streaming and File Streaming. Based on Device, the market is categorized into Smartphones, Laptop/Tablets, PC’s, Smart TV, and Consoles. Based on Gamer Type, the market is categorized into Casual Gamers, Lifestyle Games, Avid Gamers, and Hardcore Gamers. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.  

REGIONAL INSIGHTS

The Global Cloud Gaming Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

The North America region is expected to dominate the market share owing to the early adoption of cloud technologies, increased demand for online gaming, and extensive accessibility to effective internet infrastructure. Similar to this, it is anticipated that the growing gaming industry in Europe will boost cloud gaming activity there. Massive cooperation, investment, and acquisition are fueled by this rising potential in the European gaming industry. For instance, the ZeniMax Media acquisition by Microsoft Corporation, a game developer and publisher, was approved by the European Commission in March 2021. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period of the cloud gaming market due to the rising demand for gaming content from countries like China, India, South Korea, and Japan. Additionally, the global gaming sector is projected to be driven by the rising smartphone usage in these countries. China is anticipated to dominate the market throughout the projection period, due to the rising investments in 5G infrastructures and the telecommunications sector. Japan will experience rapid growth over the course of the anticipated term as a result of the presence of key cloud gaming market players.

LIST OF COMPANIES PROFILED:

• Utomik BV
• NVIDIA Corporation
• Numecent Holdings Ltd
• RemoteMyApp SP ZOO
• Parsec Cloud Inc.
• Google Inc.
• Microsoft Corporation
• Amazon Inc.
• Tencent
• Sony Corporation
• Electronic Arts, Inc.
• Broadmedia Corporation
• Intel Corporation
• BLACKNUT

KEY INDUSTRY DEVELOPMENTS:

· October 2021- NVIDIA Corporation released the GeForce RTX 3080, an enhanced gaming platform for GeForce NOW. Gamers may enjoy the highest resolutions, lowest latency, and quickest frame rates with the GeForce RTX 3080 subscription.

• September 2021- Amazon Web Services, Inc. launched a subscription plan geared toward families, expanding its service offerings. With these new additions, customers can upgrade their Luna+ subscription for USD 2.99 per month and receive 36 kid-friendly games, including Wandersong, Overcooked, Adventure Pals, and Spongebob Squarepants.

SEGMENTATION

By Streaming Type

• Video Streaming
• File Streaming

By Device

• Smartphone
• Laptop/Tablets
• PC’s
• Smart TV
• Consoles

By Gamer Type

• Casual Gamers
• Lifestyle Games
• Avid Gamers
• Hardcore Gamers

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa