According to the latest report by IMARC Group, titled “Cloud Gaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global cloud gaming market size reached US$ 802 Million in 2018. Cloud gaming is a kind of game service that utilizes an internet connection to stream games on a mobile phone, computer and console. Also known as gaming on demand, it allows users to play games without installing or updating the same on their devices. It employs a host gaming server to store, host and run the game. These gaming services provide a frictionless experience to their subscribers across various devices. They are a relatively cheaper option for gamers as they does not require purchasing the game software.
Global Cloud Gaming Market Trends:
Growing sales of consumer electronics like personal computers (PCs), laptops and smartphones in confluence with the increasing penetration rate of high-speed internet across the globe is one of the major factors that is influencing the growth of the mobile gaming industry. This, in turn, is increasing the demand for cloud gaming on the global level, thus spurring the market growth. In addition to this, these gaming platforms enable multiplayer gaming within the same game environment, which allows gamers to connect with a large online gaming audience. Consequently, it is gaining rapid popularity among the masses, especially online gaming enthusiasts. Also, the manufacturers have now widened their gaming platform from Windows to other devices supporting Linux, Mac, iOS, Windows RT, Android and Chrome OS. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2,579 Million by 2024, expanding at a CAGR of 22% during 2019-2024.
- On the basis of the device type, the market has been divided into smartphones, smart TVs, consoles, tablets and PCs.
- Based on the genre, the market is segregated into adventure/role playing games, puzzles, social games, strategy, simulation and others.
- On the basis of the technology, the market has been bifurcated into video streaming and file streaming, wherein video streaming represents the biggest segment.
- Based on gamers, casual gamers account for the majority of the total market share, followed by hardcore gamers.
- On the geographical front, the market is categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. At present, North America holds the leading position in the market.
- The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market including Utomik B.V., Nvidia Corporation, Snoost, 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 and CiiNow, Inc.
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