Global Cloud Gaming Market to Reach US$ 48,552.2 Million by 2032, Fostered by Increasing Mobile Gaming Audience

March 27, 2023 | Technology & Media

According to the latest report by IMARC Group, titled "Cloud Gaming Market Report by Devices Type (Smartphones, Smart TVs, Consoles, Tablets, PCs), Genre (Adventure/Role Playing Games, Puzzles, Social Games, Strategy, Simulation, and Others), Technology (Video Streaming, File Streaming), Gamers (Hardcore Gamers, Casual Gamers), and Region 2024-2032," the global cloud gaming market size reached US$ 1,905.6 Million in 2023. Cloud gaming is a type of gaming technology that allows players to stream games over the internet without the need for powerful local hardware. The process involves connecting remotely to an external organization that houses the game software on its server. This enables individuals to play games online without the need of acquiring or downloading the software. It offers several benefits, such as the ability to play games on devices that would not be able to run them locally, such as low-end computers, smartphones, and tablets. It also eliminates the need for expensive gaming hardware, including consoles or gaming PCs, and allows for easier game updates and maintenance, as all updates are present on the server rather than requiring users to download and install updates locally. It enables video game developers to create games for specific hardware without considering a minimum system optimization for lower-end consumer consoles or PCs, thus reducing development times and saving the capital in the long run.

Global Cloud Gaming Market Trends:

The increasing demand for high-quality gaming experiences among the masses is primarily driving the market. Moreover, the easy availability of high-speed internet infrastructure, which is required for smooth gameplay, is further contributing to the demand across the globe. In line with this, ongoing developments in 5G technology and the growing popularity and migration toward cloud technology are acting as other growth-inducing factors. Apart from this, numerous major companies are offering cloud gaming services, or games-as-a-service to offer services in the form of subscriptions, which is providing a boost to the market. Furthermore, the increasing popularity of social media games among the masses is creating a positive market outlook. Since cloud gaming allows individuals to access games through remote servers instead of having to install them on a console or computer, it aids in eliminating the need for storage and purchasing the most recent gaming PC or console, which is impacting the market favorably. Other factors, including increasing demand for immersive gaming experiences, inflating disposable income levels of the masses, rising popularity of virtual and augmented reality gaming, and cross-platform play devices among individuals, are also influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 48,552.2 Million by 2032, exhibiting a growth rate (CAGR) of 42% during 2024-2032.

Market Summary:

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 has been segmented into adventure or role playing games, puzzles, social games, strategy, simulations and others.
On the basis of the technology, the market has been bifurcated into video streaming and file streaming.
Based on the gamers, the market has been classified into hardcore gamers and casual gamers.
On the basis of the region, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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, and CiiNow, Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Devices Type, Genre, Technology, Gamers, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	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 and CiiNow, Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
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Global Cloud Gaming Market to Reach US$ 48,552.2 Million by 2032, Fostered by Increasing Mobile Gaming Audience

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