Press Release

Rapid Shift of Gaming Companies to Cloud Platforms to Drive the Global Cloud Gaming Market

According to a recent research report by MarkNtel Advisors, the Global Cloud Gaming Market size was valued USD 2.8 Billion in 2023 and is projected to grow at around 30% CAGR during the forecast period, i.e., 2024-30. The easy access to online games, increasing investments in developing & extending 5G infrastructure, growing internet penetration, and the rising number of smartphone users worldwide are the prime aspects driving the global market. Moreover, the rise in the shift of the leading game companies worldwide to cloud services in order to provide interactive & immersive gaming experiences to gamers is another crucial aspect projected to drive the global market through 2030.

Cloud gaming enables a seamless gaming experience without the need for users to spend on additional hardware or storage spaces. In this view, the top companies operating in the cloud gaming industry are joining forces with various telecoms globally to provide gamers with a 5G cloud gaming experience.

Nevertheless, the emergence of social media games is also driving the global market since most people rely on social sites to play their favorite games. Hence, many social media organizations collaborating with cloud gaming providers are projecting remunerative growth prospects for the global market in the coming years, further states the research report, "Global Cloud Gaming Market Analysis, 2024."

Mounting Number of Casual Gamers to Boost the Global Market during 2024-30

The convenience & cost-effectiveness of cloud gaming, significant improvements in internet services, and the growing availability of affordable 5G smartphones for high bandwidth & low latency game streaming are the prime aspects driving the global market for casual gamers.

Moreover, a majority of the global population that got quarantined due to the Covid-19 pandemic and the rising number of e-Sports tournaments offering substantial money prizes have also resulted in the surging penetration of casual gamers worldwide. Hence, it shall further create lucrative growth opportunities for the global market through 2030.

With the Extensive Presence of Leading Gaming Companies, Asia-Pacific to Witness Significant Market Growth

Currently, Asia-Pacific holds the largest share in the Cloud Gaming Market. It attributes to various government initiatives & massive funding for 5G infrastructural developments, coupled with the increasing use of the highly affordable cloud gaming platforms across the region. Moreover, the leading industry players & cloud service providers are joining forces to expand their offerings across Asia-Pacific, i.e., another crucial aspect driving the regional cloud gaming market.

Across the region, China is the leading cloud gaming market on account of massive investments in 5G expansion and the telecom sector. Furthermore, Japan, the second-largest market in Asia-Pacific after China and the headquarters of the leading game companies, such as Nintendo, Sony, etc., for several years, is witnessing swift advances in technology. These aspects are all set to lead the Asia-Pacific to continue its dominance in the market throughout 2030, reveals MarkNtel Advisors in their research report, "Global Cloud Gaming Market Analysis, 2024."

Competitive Landscape:

The leading players in the Global Cloud Gaming Market include NVIDIA Corporation, Intel Corporation, Google, Microsoft Corporation, Amazon Web Services Inc., Advanced Micro Devices, Sony Interactive Entertainment LLC, IBM, Tencent, Alibaba, Apple, Inc., Ubitus Inc., Electronic Arts, Inc., Rainway, and Parsec Cloud, Inc.

Key Questions Answered in the Research Report:

1. What are the current & future trends in the Global Cloud Gaming Market?
2. How has the industry been evolving in terms of geography & service adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Cloud Gaming Market?
5. What are the customer orientation, purchase behavior, and expectations from cloud gaming service providers across various regions?

Market Segmentation:

1. By Component (Cloud Gaming Platforms, Content Services)
2. By Type (File Streaming, Video Streaming)
3. By Operating Model (B2B, B2C)
4. By Device (Smartphones, Tablets, Gaming Consoles, PCs & Laptops, Smart TVs, Head Mounted Displays)
5. By Gamer Type (Casual Gamers, Avid Gamers, Lifestyle Gamers)
6. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
7. By Country (The US, Canada, Mexico, Brazil, Argentina, The UK, Germany, France, Italy, Spain, China, Japan, South Korea, India, UAE, Saudi Arabia, South Africa)