Global Cloud Gaming Market Research Report: by Type (Video Streaming, File Streaming), Gaming System (G-Cluster, PlayStation, Stream My Game, Steam in Home Streaming, Remote Play, Others), Deployment (Public Cloud, Hybrid Cloud, Private Cloud), End User (Casual Gamers, Serious Gamers and Social Gamers) and by Region (North America, Europe, Asia Pacific, Middle East & Africa and South America) - Forecast till 2027
Market Overview
The growing popularity of cloud games is one of the foremost reasons behind the significant Cloud Gaming Market Growth. It was evaluated to be USD 0.47 billion in the year 2027. The market is expected to witness growth at a CAGR of 48.2 percent in between the forecast period of 2021 and 2027. The growing popularity of cross-platform gaming is also one of the prominent factors behind the growing Cloud gaming market size. Needless is to say that such cross-platform games are much popular in terms of the incredible gameplay they provide.
Growing uses of internet services and the advancement of gaming system is also one of the prime reasons behind significant prospect of cloud gaming market. In addition, the advancing technologies enabling gamers in smooth streaming of XR gaming have made these games more popular, expanding their market base. Greater usage of smartphones over the world is certainly expected to expand the growth of the cloud gaming market significantly. Cloud Gaming Market Growth is expected to be even more encouraging during the projected period of 2021 and 2027.
Modern-day developers concentrating high on smartphones explicitly for gaming purposes is also one of the prime reasons behind the cloud gaming market growth. The growing popularity of gaming over social media is expected to have significance in terms of facilitating market growth. A noteworthy percentage of social media users involved in playing games over their favorite platforms is also a reason behind expansion of Cloud gaming market size. Moreover, modern-day social media platforms are aiming at acquiring the cloud game companies for offering games on their platforms.
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Segmentation:
Cloud gaming market segmentation can be done on the basis of game type, in terms of device, in terms of gamer type, and on the basis of region. On the basis of Type, the market is further classified into File streaming and video streaming. On the basis of device outlook, the Cloud Gaming market segmentation classifies the market to smartphones, tablets, PCs, Smart TV, Gaming Console, and Head-Mounted Displays. Cloud Gaming Market Type on the basis of gamer type can be classified as Casual Gamers, Avid Gamers, and Lifestyle Gamers. Regionally, the market is classified to North America, Europe, Asia Pacific, Latin America, and MEA.
Regional analysis
Asia Pacific was the prominent player due to its significant Cloud Gaming Market Size in the year 2020. It held a market share of 40 percent in the year. A growing number of smartphone users and increasing internet users is touted as the prime reason behind the significance of the market. According to forecasts, North American is going to be the major driver of international cloud gaming market growth in between the forecast period. It’s the presence of top-ranked vendors like Microsoft, Apple, Google, IBM is the reason behind the promising market prospect here in upcoming years. Specifically, the United States and Canada are going to be the major players in cloud gaming market growth.
Industry News:
Very popular Xbox Cloud Gaming has been tested. Good news is that the game works excellent on PCs. However, it is not looking too promising for iOS users or on iOS. Xbox is considered the best cloud gaming provider in the market at present. It offers an Xbox Game Pass with a huge number of direct and third-party games at a price of just $15 per month.
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