Cloud Gaming Market Trends, Impact of Covid-19 and Forecasts 2022 – 2027

Cloud Gaming Market
Cloud Gaming Market

Smartphone use is accelerating globally at an incredible rate in today's technology-driven world. As a result, technology is altering how people socialize and communicate as a whole. Smartphone users get access to a wide range of online services and content through a number of apps. The popularity of video games has been rising over time. And the trend has only gotten stronger as individuals look for new ways to socialise and pass the time during the pandemic.

The industry of gaming has expanded to surpass that of movies and sports put together. Cloud gaming is a new style of online gaming in which game data is rendered on the cloud side rather than the system of the end user and transmitted via a high-speed network. One of the industries in the multimedia entertainment sector with the quickest growth is video gaming. The widespread use of smart mobile devices and mobile gaming is driving the Cloud Gaming Market demand. For instance, the American technology company Blue Stacks developed Blue Stacks X in September 2021. This is a free cloud-based gaming streaming service for mobile games. The industry for in-game advertising is being driven by the rising popularity of mobile gaming.

The global Cloud Gaming Market was valued at US$ 178.2 Mn in 2020 and is expected to reach US$ 2,996.0 Mn by 2028 at a CAGR of 42.3% between 2021 and 2028.

The major benefit of cloud gaming is the elimination of the hardware restriction on game access. The most noticeable impact will be on AAA games because, on prior generation PCs or consoles, they frequently either couldn't run at all or could only offer a basic, scaled-down gaming experience. By overcoming this obstacle, it may be possible to get into a previously underserved Cloud Gaming Market where consumers were eager to pay for a particular title but hesitant to invest so much money up front on the necessary hardware setup. Even additional connections exist between cloud gaming and popular games. Such expansive games require significant marketing efforts, which are often led by the game publisher.

Nearly of the global revenue was generated in the Asia Pacific region in 2021, and it is expected to continue growing during the projected period. The demographics and the vast number of gamers in the area taken together are the key drivers of market expansion. The two nations with the highest populations are China and India. The number of cloud gaming services has increased in Japan as well.

 

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