Cloud Gaming Market Insights
Cloud gaming has revolutionized the gaming industry due to the direct and on-demand availability to stream games on computers, mobile devices, and many other gaming mediums. The convenience with which users can access and stream games has been a significant factor promoting market growth. Market Research Future (MRFR) has recently published a detailed report which reveals an impressive 23% CAGR during the forecast period of 2017 to 2023.
The report further analyzes various components of the market to provide unique insights into trends, challenges, and opportunities. Some advantages of this form of gaming include gaming integration into computer, smartphones and other devices, instant access to gaming regardless of location and the elimination of expensive hardware. These advantages have played a primary role in the increasing appeal of cloud gaming to users, thus compelling robust demand.
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With gaming officially recognized as a sport, spectating of live gaming has given rise to platforms such as Twitch.tv, which allows users to watch their favorite gamers play cloud-based games in real time. Users can also upload their own live streams. This aspect of cloud gaming has further boosted its popularity with the gaming community. Other platforms of a similar nature have started to enter the market thus creating competition which is likely to accelerate technological advancements in cloud gaming.
The cloud gaming market has significant unrealized potential that is driving growth. However, the market faces challenges such as the requirement of strong internet connectivity and security concerns regarding personal data.
Ongoing innovations & improvements of the cloud gaming experience, growing competition among market players and convenience of cloud gaming are likely to present more opportunities for the growth of the market during the forecast period. Some other factors influencing growth for the market include changing lifestyles and increasing disposable incomes.
Cloud Gaming Market Segmentation
The global Cloud Gaming Market has been segmented by type, cloud, server, end-user, and region. MRFR’s analysis of the segments allows for accurate identification of market trends and challenges by providing a comprehensive view of the market.
By Type, the market has been segmented into video streaming, file streaming, and others.
By Cloud, the market has been segmented into public, private, hybrid and community.
By Server, the market has been segmented into G-cluster, Play Station, Game Now, Stream My Game and others.
By End Users, the market has been segmented into serious gamer, social gamer, and core gamer.
By Region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Cloud Gaming Market Key Players
The competitive dashboard of this market that has been analyzed in the report includes Samsung Electronics, Sony, Amazon, Microsoft Corporation, GameFly, Nvidia, Ubitius, Playkey, HaiHong Holding, TongFang, B Ray Medica, and Zhongqing Game.
Latest Industry News
A new entrant in the cloud gaming market, Simplay, has been receiving a lot of attention for its innovative service offering – unlimited hours of cloud gaming starting at $20 per month. The affordable pricing and native support from Parsec, a leading cloud gaming platform is expected to disrupt the market in the coming years.
After Microsoft’s recent announcement of the Head of the Gaming Cloud division at Xbox in March. The company has now begun to complete assembling talented software engineers for upcoming projects. Microsoft’s Xbox is looking to take advantage of Azure; it’s prominent cloud computing platform.
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Cloud Gaming Market Regional Analysis
North America dominates the global cloud gaming market due to a presence of market leaders. There is also a strong penetration of smartphones and other personal electronic devices. The region enjoys high-speed internet capabilities and swift adoption of modern technological advancements.
Asia Pacific (APAC), is expected to grow significantly during the forecast period. The unrealized potential coupled with the region witnessing an increasing demand for innovative gaming experiences are facilitating the rapid growth of the cloud gaming market. The availability of a massive gaming population has attracted the attention of major market leaders, and the cost efficiency of cloud gaming is likely to promote demand further. Additionally, there is increasing penetration of smartphones and a growing demand for cloud-based platforms and services in emerging economies of this region.
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