As per the latest report by IMARC Group, titled “Cloud Gaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global cloud gaming market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global cloud gaming market reached a value of US$ 865.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 9,439.9 Million by 2027, exhibiting at a CAGR of 48.3% during 2022-2027. Cloud gaming, commonly known as gaming-on-demand, is a form of web gaming that allows direct streaming of games onto the mobile device, personal computer (PC), or console of the user. It is available in various genres, such as adventure, role-playing, puzzles, social games, simulation, strategy, etc. Cloud gaming enables users to play games online without downloading or purchasing the actual software. It also offers an integrated gaming experience on smart devices that permits the user to view the game of another user through live video streaming. As a result, cloud gaming finds extensive utilization by hardcore and casual gamers across countries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Cloud Gaming Market Trends:
The escalating digitalization in technology and the rising mobile gaming audience are primarily driving the cloud gaming market. Besides this, the elevating need to constantly update and maintain the backup and avoid keeping physical copies of the games is further augmenting the market growth. In addition to this, cloud gaming assists in the reduction of data storage and ease of accessibility to the users, which is also catalyzing the global market. Moreover, the growing popularity of instant play games and the improving network connectivity across countries are acting as significant growth-inducing factors. Furthermore, the increasing demand for download- and installation-free gameplays on several operating systems, including Mac, iOS, Android, Linux, Chrome OS, etc., is anticipated to propel the cloud gaming market over the forecasted period.
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Competitive Landscape:
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 these key players include:
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