Pune, India, June 06, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global cloud gaming market size was valued at USD 3.37 billion in 2022 and is projected to grow from USD 5.76 billion in 2023 to USD 84.97 billion by 2030, exhibiting a CAGR of 46.9% during the forecast period. Increasing Demand for Online Gaming Solutions to Bolster Market Growth. The market is expected to grow during the forecast period due to the rising adoption of mobile cloud gaming and online gaming solutions. Fortune Business Insights™ publishes this information in a report titled, Cloud Gaming Market Forecast, 2023-2030.
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Key Industry Development:
March 2023: Microsoft Corporation joined hands with Boosteroid, a cloud gaming platform provider, to involve more gamers worldwide and aims to develop gaming operations in Russia and Ukraine.
Key Takeaways
- The cloud service plays a key role in delivering a smooth gaming experience to customers’ entire devices without additional hardware configuration.
- Lockdown and Stay-at-Home Restrictions Boosted Market Growth Amid COVID-19
- Rising Mobile Cloud Gaming Trend Likely to Boost Market Growth
- By Streaming Type Analysis: Minimum Requirement of Hardware to Propel the Video Streaming Segment
- Cloud Gaming Market Size in Asia Pacific was USD 1.33 Billion in 2022
- Rising Adoption of Recent Technologies to Stimulate Cloud Gaming Demand
Discover the Leading Players Featured in the Report:
“Companies leading the Cloud Gaming Market are Google Inc. (U.S.), Microsoft Corporation (U.S.), Amazon Inc. (U.S.), Tencent (China), Sony Corporation (Japan), Electronic Arts, Inc. (U.S.), NVIDIA Corporation (U.S.), Broadmedia Corporation (Japan), Intel Corporation (U.S.), Blacknut (France)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 46.9% |
| 2030 Value Projection | USD 84.97 Billion |
| Base Year | 2022 |
| Cloud Gaming Market Size in 2022 | USD 3.37 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 140 |
| Segments covered | Device, Streaming Type, End-User and Geography |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/cloud-gaming-market-102495
Drivers & Restraints:
Rising Adoption of Recent Technologies to Augment Growth
The market is anticipated to grow significantly due to increasing investment by leading companies and the rising adoption of advanced technologies. The key market players focus on reinventing online gaming solutions to improve the gaming experience. Also, the low-latency capability of 5G technology provides better assistance to gaming platforms. However, responsiveness and latency issues may hamper the market growth in the coming years.
Segments:
By Component
By Device Type
- Head Mounted Devices (HMD)
- VR Simulator
- VR Glasses
- Treadmills & Haptic
- Others
By Industry
- Gaming
- Entertainment
- Automotive
- Retail
- Healthcare
- Education
- Aerospace & defense
- Manufacturing
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Regional Insights:
North America Dominates Global Market Due to Rising Online Gaming Demand
North America holds the highest global cloud gaming market share during the forecast period due to increasing demand for online gaming solutions. Also, adequate availability of internet infrastructure is expected to bolster regional market growth. North America stood at USD 0.76 billion in 2021.
Europe is the second leading region for cloud gaming solutions. The regional growth is attributable to rising investment and collaborations among the leading market players.
Quick Buy – Cloud Gaming Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102495
Competitive Landscape:
Key Market Players to Adopt Latest Technologies to Maintain Their Market Position
The key market players implement several techniques to develop new services equipped with recent technologies. It includes adopting new advancements in the industry and launching new services with adequate compatibility and feasibility. Also, the leading companies focus on testing their services to avoid bugs and errors while actual utilization.
FAQ’s
How big is the cloud gaming market?
Cloud Gaming Market size was USD 3.37 billion in 2022.
How fast is the cloud gaming market growing?
The Cloud Gaming Market will exhibit a CAGR of 46.9% during the forecast period, 2023-2030
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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