Cloud Gaming Market to Generate Revenue of Around USD 6,944 Million by 2026
According to the report, the global cloud gaming market was valued at approximately USD 802 million in 2017 and is expected to generate revenue of around USD 6,944 million by 2026, growing at a CAGR of around 27.2% between 2018 and 2026.
Sarasota, FL -- (SBWire) -- 02/15/2019 --Cloud gaming renders a communicating gaming application remotely on the cloud, which streams the scenes as a video sequence to the player over the internet. The gamer can enter the game by installing the client program that gives access to the server, where the games run.
The increasing number of gaming devices and audiences is anticipated to fuel the implementation of cloud gaming, which, in turn, will propel this market's growth in the upcoming years. Technological advancements and innovation in graphics that show realistic views are fascinating for new users and gamers across the world. Moreover, the capability of multi-player gaming is growing, which, in turn, is expected to positively impact the cloud gaming market over the forecast time period. The increasing popularity of multi-player games is due to the wide range of benefits offered to the users, such as enabling gameplay without downloads and installations, providing good network connectivity, and the availability of the click-and-play feature.
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The cloud gaming market is divided based on cloud type, streaming type, and device. By cloud type, the market is classified into public, private, and hybrid. Public cloud type is anticipated to dominate the market in the future, as it offers the least maintenance charges. The streaming type segment is bifurcated into video and file. The video streaming segment dominated the market, whereas file streaming type is likely to show a higher rate of growth in the upcoming timeframe. The file streaming provides advantages over video streaming, such as a good CDN is enough to distribute small data packages. By device, the cloud gaming market is categorized into smartphones, tablets, gaming consoles, and PCs. Gaming consoles are projected to dominate this global market, as the console developers are progressively focusing on improving console features to enhance the users' gaming experience on the cloud.
By region, this global market includes Asia Pacific, Latin America, Europe, North America, and the Middle East and Africa. North America is likely to dominate the cloud gaming market in the estimated period. This can be attributed to the availability of high-speed internet and high penetration of smart devices. The Asia Pacific region is projected to show the highest rate of growth in the cloud gaming market, due to the region's developments related to digital technology with foreign investments and the increase in the number of companies developing cloud games over the forecast time period.
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Some key players of the global cloud gaming market are IBM, NVIDIA Corporation, Ubitus Inc., Simplay, LiquidSky Software, Inc., RemoteMyApp, GameFly, Inc., Hatch Entertainment Ltd., Cloudzen, Sony Corporation, ParsecCloud Inc., Microsoft, Crytek GmbH, Amazon Web Services Inc., Blade (Shadow), Samsung Electronics, and Google Inc.
This report segments the global cloud gaming market as follows:
Global Cloud Gaming Market: Cloud Type Analysis
Global Cloud Gaming Market: Streaming Type Analysis
Global Cloud Gaming Market: Device Analysis
Global Cloud Gaming Market: Regional Analysis
The Middle East and Africa
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