The global cloud gaming industry was valued at USD 41.5 Million in 2017, exhibiting a CAGR of 27.8% during the forecast period of 2019 to 2025, according to the research report available on Alexa Report. The market will further expand during the forecast period, and will be valued at USD 291.28 million by the end of 2025. Growing popularity of online gaming among young population and availability of high speed internet in emerging economies are some of the major industry drivers across the globe.
As a whole, cloud gaming market will likely to observe massive boom, credited to the rising penetration of gaming devices in newer markets. Cloud gaming, also referred as gaming on demand, which is a form of online gaming, has gained significant popularity over the past few years. These gaming services typically offer frictionless and direct play-ability for gamers across different platforms.
Increasing popularity of multiplayer gaming with remote access, which involves direct access to a large online gaming population, has gained substantial traction in global landscape over the past few years. Other advantages of these services include better network connectivity and availability of game-play options without the need for downloads and installations. Availability of the click-and-play feature will further escalate product demand during the forecast period.
Market Segmentation Based on Streaming Platform
The market is further divided into multiple segments based on streaming services type, such as video streaming services and file streaming services. The video streaming segment has showcased market dominance since the past few years and likely to maintain its position in the upcoming timeframe. However, the file streaming will take over video streaming, pertaining to several advantages including a good CDN, which will allow easy distribution of small data packages.
Market Segmentation Based on Regional Landscape
Based region, the market is divided into North America, Latin America, Asia-Pacific and Africa region. North America currently holds major market share, owing to the increasing research & development activities, and implementation of latest clod technologies for gaming application. Asia Pacific region has observed significant growth, pertaining to the availability of high-speed internet, increasing penetration of smart devices, and the presence of major players in the region.
Some of the leading businesses in the cloud gaming market include IBM Corp., NVIDIA Corp., Ubitus Inc., Simplay Gaming Ltd., LiquidSky Software, Inc., RemoteMyApp, GameFly, Inc., Hatch Entertainment Ltd., Cloudzen Pte., Ltd., Sony Corp., ParsecCloud Inc., Microsoft Corp., Crytek GmbH, Amazon Web Services Inc., Samsung Electronics, and Google Inc.