PUBLISHER: Orion Market Research | PRODUCT CODE: 1215608
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215608
Title:Global Cloud Gaming Market Size, Share & Trends Analysis Report by Device (Smartphones, Gaming Consoles, Personal Computer, and Tablets), and by Type (Video Streaming, and File Streaming) Forecast Period (2022-2028).
The global cloud gaming market is anticipated to grow at a substantial CAGR of 45.9% during the forecast period. The increase in the demand for 5G technologies, rising smartphone users, government initiatives, rising FDI, and economic growth are the key factors enhancing the overall market growth. Various key market players and telecom providers are creating alliances and collaborations to give gamers a 5G gaming experience. For instance, in 2021, SK Telecom and SingTel operated together to attract gamers utilizing technologies like multi-access edge computing (MEC) and 5G. Furthermore, in October 2020, Blacknut and POST Luxembourg, partnered to introduce the first Cloud Gaming service as part of POST's upcoming 5G launch. The service enables POST customers subscribing to their new 5G service to stream games from Blacknut's catalog of more than 400 premium titles, and play via any 5G-connected smartphone, PC, or laptop. This is anticipated to fuel the global cloud gaming market during the forecast period.
The global cloud gaming market is segmented based on the device and type. Based on the device, the market is segmented into smartphones, gaming consoles, personal computer, and tablets. Based on the type, the market is sub-segmented into the video streaming, and file streaming. Among these the mobile segment is expected to be the fastest-growing during the forecast period as Immense data centers are linked to devices and phones via the internet, therefore a number of smartphones run cloud gaming, supporting utilizers with easy access to games that propel the global cloud gaming market.
Geographically market is segmented into: North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is anticipated to be the fastest-growing region during the forecast period due to the increase in the demand for cloud gaming in this region. The increase in the online gamers in the region and improved gaming technology by the companies For instance, in April 2019, Tencent started testing a cloud gaming service called "Start. " The company has started deploying these solutions in several test markets, including China, where the company is letting a select group of users sign up for the service. Increased adoption of next generation technologies and the ever-increasing popularity of PCs and electronic devices is expected to create new growth opportunities in the region.
The major companies serving the global cloud gaming market include Utomik B.V., NVIDIA Corp, Numecent Group, Parsec Cloud, Inc. RemoteMyApp sp. Z o.o., Google Inc, IBM Corp, Intel Corp, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2021, Blacknut partnered with the communications and entertainment group NOS to provide the gaming experience with 5G across Portugal. The partnership aims to deliver 500+ games to play over the 5G network. After the launch of 5G technology, NOS delivered Backnut's gaming service directly to customers.
Research Methodology
The market study of the global cloud gaming market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: