The Global Cloud Gaming market is anticipated to witness high growth in the forecast years on account of the rising popularity of cloud gaming among individuals, increasing adoption of 5G technology along with a substantial surge in the number of gamers, and burgeoning investment by the market players in gaming due to escalating demand for the rich gaming experience. Moreover, the upsurge of immersive gaming on mobile in order to enhance gaming experience to gamers, the introduction of new innovative cloud gaming solution by the market players, and surging demand for entertainment globally are the factors anticipated to accelerate the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report “Global Cloud Gaming Market Analysis, 2020”, the Global Cloud Gaming market is anticipated to grow at a CAGR of around 30% during 2021-26. Based on Device, The smartphone and tablet segment acquired the majority market share in 2019. The growth of the segment is attributed to the burgeoning adoption of smartphones and tablets across the globe, the launch of various gaming solutions for smartphones to increase the customer base, and the burgeoning demand for smartphones as it is more affordable compared to console gaming.
Moreover, the Laptop segment is also anticipated to witness robust growth in the near future owing to the factors such as the surging inclination of gamers toward gaming laptops owing to portability and convenience. Besides this, cloud game developers are inclining more toward developing gaming services for laptops which are expected to create opportunities for cloud gaming companies to penetrate the market.
“Global Cloud Gaming Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Cloud Gaming providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Acquired the Majority Market Share
North America grabbed the majority market share in the Global Cloud Gaming market in 2019 due to burgeoning penetration of smart devices such as smartphones, gaming consoles and surging adoption of cloud technologies in countries such as Canada and the US. US dominated the North America region. This is due to significant rise in the number of cloud game provider companies, strong presences of giant market players such as Google, Microsoft along with growing populace of social gamers and snowballing demand for cloud gaming are the factors expected to bolster the growth of the Cloud Gaming Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Cloud Gaming Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Cloud Gaming market are 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, Parsec Cloud, Inc. etc.
Key questions answered in the study: