Cloud gaming or gaming on demand or gaming-as-a-service is a type of online gaming that streams or runs video games on remote and servers directly to the user’s device. The user can also play a game remotely from a cloud. The increasing penetration of internet services and easy access to games on the cloud as well as commercialization of 5G technology are the few factors responsible for the growth of the market over the forecast period. For instance: according to the Global System for Mobile Communications Association (GSMA), South Korea has 12 million 5G subscribers in 2020 and is anticipated to rise to 36, million by 2026. Also, on 16th July 2020, the three -major operator of South Korea namely, SK Telecom, KT and LG Uplus has agreed to invest USD 22 billion for frontrunner of 5G – infrastructure across the country by 2022. Also, as per Statista, the number of internet users was1.22 billion in 2006 and has risen to 3.97 billion users in 2019. Thus, the rising number of internet users and increasing commercialization of 5G technology enables the growth of the cloud gaming market over the forecast period. Moreover, the increasing adoption of smart devices like smartphones, tablets, and others further creates a lucrative growth of the market. For instance: as per Statista, 65% of the Brazilian population used smartphones in 2019, and is anticipated to rise to 75% of smartphone penetration in Brazil by 2025. Also, the number of smartphone users in Mexico was 76.99 million in 2019 and is expected to grow to 95.22 million smartphone users in 2025. However, multiplayer cloud gaming server allocation issues are the major factor restraining the growth of the global Cloud Gaming market during the forecast period.
Global Cloud Gaming Market is valued at approximately USD 1.15 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.3% over the forecast period 2020-2027 and is estimated to reach USD 3.6 billion by 2027.
The regional analysis of the global Cloud Gaming market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific is the leading/significant region across the world in terms of market share owing to the fast adoption of new technology and growing focus on cost reduction in advertising. Similarly, the increasing number of 5G infrastructure development initiatives in the region coupled with the rapid growth of cloud computing and the growing presence of professional gamers are expecting to boost the growth of the market.
Major market players included in this report are Utomik BV, Nvidia Corporation, Numecent Holdings Ltd, RemoteMyApp SP ZOO, Parsec Cloud Inc, LiquidSky Software Inc, Simplay Gaming Ltd, Ubitus Inc, and Shawdow.tech (Blade SAS)
The detailed segments and sub-segment of the market are explained below:
By Type: Video Streaming, File Streaming
By Device: Smartphones, Gaming Consoles, PC, Tablets
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