The global cloud gaming market reached a value of US$ 585 Million in 2020. Looking forward, IMARC Group expects the market to exhibit robust growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Cloud gaming, also known as gaming on demand, is a form of web gaming that allows direct streaming of games onto the user’s personal computer (PC), mobile device or console. This is achieved by establishing a remote connection with a third-party organization that has the software of the game stored in their server. It enables users to play games online without having to download or purchase the actual software. Cloud gaming also provides an integrated gaming experience on smart devices that allows the user to view another user’s game through live video streaming. It aims to offer smooth and direct game-playing experience to the end users across various devices.
Increasing mobile gaming audience and digitalization in gaming technology are two of the key factors driving the market growth. Furthermore, constant update and maintenance of a backup are some of the benefits provided by cloud gaming. This eliminates the need for keeping physical copies of software and minimizes the overall gaming cost. Moreover, cloud gaming also offers a reduction of data storage and ease of accessibility to the users. All these factors have contributed to the overall popularity of cloud gaming. Additionally, improving network connectivity, availability of instant play games, and download- and installation-free gameplays on almost all operating systems and devices such as Android, Linux, Mac, iOS and Chrome OS are also catalyzing the market growth.
The report has also analysed the competitive landscape of the market with some of the key players being Utomik B.V., Nvidia Corporation, Numecent Holdings Ltd., RemoteMyApp SP ZOO (Vortex), Parsec Cloud Inc., Paperspace, LiquidSky Software Inc., Simplay Gaming Ltd., Ubitus Inc., Microsoft Corporation, Sony, Amazon web services, Google, IBM Corporation, Samsung electronics, GameFly, CiiNow, Inc., etc.
Key Questions Answered in This Report:
The global cloud gaming market size was valued at US$ 585 Million in 2020.
According to the estimates by IMARC Group, the global cloud gaming market is expected to witness a CAGR of 55.5% from 2021 to 2026.
Increasing mobile gaming audience, improving network connectivity, and rapid digitalization of gaming technology represent some of the key drivers for the global cloud gaming market.
The rising availability of instant play games, and download- and installation-free gameplays on almost all operating systems and devices, such as Android, Linux, Mac, iOS, and Chrome OS, represent some of the key trends in the global cloud gaming market.
Sudden outbreak of the COVID-19 pandemic had led to the increase in the utilization of cloud gaming technology, due to the implementation of stringent lockdown regulations across several nations that resulted in the growing consumer inclination towards online gaming platforms.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global cloud gaming market are Utomik B.V., Nvidia Corporation, Numecent Holdings Ltd., RemoteMyApp SP ZOO (Vortex), Parsec Cloud Inc., Paperspace, LiquidSky Software Inc., Simplay Gaming Ltd., Ubitus Inc., Microsoft Corporation, Sony, Amazon web services, Google, IBM Corporation, Samsung electronics, GameFly, CiiNow, Inc., etc.
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