WESTFORD, Mass., July 22, 2024 /PRNewswire/ -- According
to SkyQuest, the global Cloud Gaming Market size was
valued at USD 696.6 million in 2019
and is poised to grow from USD 1020
million in 2023 to USD 20940
million by 2031, growing at a CAGR of 45.8% in the forecast
period (2024-2031).
Cloud gaming is an online game that do not need any
particular hardware. Many gamers have adopted this interesting
concept as it reduces the requirement for regular hardware updates
so that the game is compatible. This type of gaming solutions
provides a smooth gaming experiences along with an improved gaming
experience. Today companies can also offer players with a better
gaming experience with the help of file streaming with a
low-bandwidth internet. With this, player have the choice of
personalizing their gaming library, mark their progress, and also
get instant access to the accounts. Cloud gaming has a vast range
of applications like gaming consoles, Pc & laptops,
smartphones, and tablets. The increasing popularity of cloud gaming
along with the explosion of cross-platform gameplay that enhances
gaming experiences will boost the market growth. Rising use of
internet services and safe access to online games is rising the
demand for the solution. Even upgradation of network structures
like 5G offer better bandwidth and lower latency allowing players
to stream XR gameplay without any issues.
Download a detailed overview:
https://www.skyquestt.com/sample-request/cloud-gaming-market
Cloud Gaming Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 1020
Million
|
Estimated Value by
2031
|
$ 20940
Million
|
Growth
Rate
|
Poised to grow at a
CAGR of 45.8%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Type, Device, Gamer
Type, Deployment, Offering, Gaming System, and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Social media games are
increasing as people spend more time on these platforms
|
Key Market
Opportunities
|
Extremely competitive
market as key players are focused on launching new innovative
games
|
Key Market
Drivers
|
Network providers are
investing more on mobile gaming due to easy access of
smartphones
|
Segments covered in Cloud Gaming Market are as
follows:
- Type
- File Streaming, Video Streaming
- Device
- Smartphones, Tablets, Gaming Consoles, PCs & Laptops, Smart
TVs, Head-mounted Displays
- Gamer Type
- Casual Gamers, Avid Gamers, Lifestyle Gamers
- Deployment
- Public Cloud, Hybrid Cloud, Private Cloud
- Offering
- Infrastructure, Compute, Memory, Storage, Gaming Platform
Services, Content Service, Others
- Gaming System
- PlayStation, Stream My Game, Steam in Home Streaming, Remote
Play, Others
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/cloud-gaming-market
Low-Latency Ability of 5G Technology Driving the Market
Growth
In the cloud gaming industry, the market players are striving to
decrease the technological blockades and related high expenses for
attracting wide range of gamers. The gaming services needs low
latency if they want to offer a realistic and unique gaming
experience to the players. 5G has better low latency abilities that
provide gamers more support while they are playing the game. Today,
cloud-driven gaming is evolving with the help of 5G and providing
gaming satisfaction to the players. Therefore, it is predicted that
the low latency of 5G technology will immensely boost the market
growth.
Popularity of Smartphone Driving the Demand for Mobile Gaming
Environment
Today the world has become more digitalized because the extreme
usage of smartphones has become more common. Game developers are
trying to provide players with a more mobile gaming setting with
the increasing popularity of smartphones. Moreover, network
providers are also investing more on mobile gaming so that they can
improve the gaming experience with high-performance connectivity.
Gamers can also enhance their gaming experience with high quality
smartphones, cloud computing, and 5G infrastructure throughout
platforms and locations. It is anticipated that the cloud gaming
market will grow with the cloud-driven mobile gaming.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/cloud-gaming-market
Increasing Popularity of Social Media Games to Drive the
Cloud the Gaming Market
The rising popularity of social media games will boost the
growth of the market in the coming years. Nowadays, people spend a
lot of their time in social networking websites like Facebook,
Instagram, and Reddit. This is encouraging the major social media
companies to collaborate with cloud games so that users can easily
enjoy the game directly from the platforms. With an increase in the
popularity of cloud infrastructure it has become easier to get
access to a vast range of computing, storage, and communication
resources in a dependable, cost-efficient, and low-maintenance
process. In recent times, gaming has been considered as one of the
fastest expanding cloud computing sectors in many regions like
China.
Related Report:
Cloud Storage Market
Cloud Analytics Market
Cloud Security Market
Cloud Computing Market
Public Cloud Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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