Cloud Gaming Market Outlook, Insights, Size 2024-2033

Overview and Scope

Cloud gaming refers to a game that is stored on a business server rather than the player’s PC or device. It is a streaming service that offers high-quality content at the expense of server and internet bandwidth.

Sizing and Forecast

The cloud gaming market size has grown exponentially in recent years. It will grow from $9.67 billion in 2023 to $13.89 billion in 2024 at a compound annual growth rate (CAGR) of 43.6%. The growth in the historic period can be attributed to growing gaming industry, rise of mobile gaming, ubiquity of smart devices, cost-effective gaming solutions, reduced latency, cross-platform compatibility..

The cloud gaming market size is expected to see exponential growth in the next few years. It will grow to $61.79 billion in 2028 at a compound annual growth rate (CAGR) of 45.2%. The growth in the forecast period can be attributed to emergence of game streaming platforms, global expansion of cloud services, increasing internet speeds, focus on social gaming, integration with smart tvs, expansion of gaming content libraries, . Major trends in the forecast period include expansion of 5g networks, subscription-based gaming models, integration with smart devices, ai and machine learning integration, game streaming technologies, partnerships with game developers..

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Segmentation & Regional Insights

The cloud gaming market covered in this report is segmented –

1) By Gaming Type: Video Streaming, File Streaming

2) By Offering: Infrastructure, Game Platform Services

3) By Device: Smartphones, Tablets, Gaming Consoles, PCs and Laptops, Smart TVs, Head-Mounted Displays

4) By End User: Casual Gamers, Avid Gamers, Hardcore Gamers

Asia-Pacific was the largest region in the cloud gaming market in 2023. The regions covered in the cloud gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising penetration of the internet is expected to propel the growth of the cloud gaming market going forward. Internet penetration is the proportion of the population that has internet access, which is defined by the country’s internet user ratio. An Internet connection helps in cloud gaming by providing access to the games and creating connections to the remote servers. For instance, in June 2021, according to the International Telecommunication Union, a UN organization for information and communication technologies, there were 4.9 billion users of the Internet. With an anticipated 800 million people joining the internet since 2019, 63% of the world’s population is now online, and it is expected to rise by an additional 17% by the end of 2024. Therefore, the rising penetration of the internet is driving the growth of the cloud gaming market.

Key Industry Players

Major companies operating in the cloud gaming market report are Amazon.com Inc., Google LLC, Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Sony Interactive Entertainment LLC, Ubitus Inc., Tencent Holdings Limited, Electronic Arts Inc., International Business Machines Corporation, Vortex Inc., Playgiga Inc., Blacknut SAS, AMD Cloud Gaming Inc., Hatch Entertainment Ltd., Advanced Micro Devices Inc., Alibaba Group Holding Limited, Crytek GmbH, Playkey Inc., Gamefly Inc., LiquidSky Software Inc., Nintendo Co. Ltd., 2K Games Inc., Ubisoft Entertainment SA, Activision Blizzard Inc., Square Enix Holdings Co. Ltd., Capcom Co. Ltd., Konami Holdings Corporation, Bandai Namco Entertainment Inc., Sega Corporation, Nexon Co. Ltd., NetEase Inc., Perfect World Co. Ltd., Kingsoft Corporation Limited, G-Cluster Global Corporation, Shadow Technologies SAS, Rainway Inc.

The cloud gaming market report table of contents includes: