If the issues it now confronts are resolved, the worldwide cloud gaming market, which had a market value of US$ 721.9 Mn at the end of 2021, is predicted to grow to US$ 42.35 Bn by 2032, growing at a CAGR of 41.7%.
Currently, 38% of the worldwide online video games market is made up of cloud gaming.
No downloading or storage is necessary, and cloud gaming offers various advantages and access to video games regardless of the user’s device features. Additionally, this idea enables some video game distributors to switch from the physical delivery of video game copies to a software platform for full download and play.
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Why is Causal Gamers’ Demand for the Cloud Gaming Space Growing?
Casual gamers are people who play video games for enjoyment, to relax with their friends, or to pass the time and amuse themselves. Now that cellphones, computers, and smart TVs are more widely accessible, persons in this category can play video games more frequently.
Contrary to competitive or professional gamers, however, casual gamers are less inclined to spend money on technology designed specifically for gaming, such as laptops that are far more expensive for gaming than for non-gaming purposes.
The hardware specifications for memory and technology are increasing in line with the improvement in video game quality. Bypassing this prerequisite, cloud gaming enables casual players to play whatever video game they choose without any restrictions.
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Competitive Landscape
The cloud gaming industry is a new development in the video game market and it can take time for this form of gaming to be widely accepted. Most companies that are currently investing in cloud gaming solutions are either long-time players in the video game industry, new companies that are dedicated specifically to this market, or companies that have established cloud services.
In September 2022, LG announced the implementation of cloud gaming services for its upcoming smart TVs. LG will be including the apps of Blacknut and Utomik Cloud on its smart TVs, which are cloud gaming service providers.
In September 2021, Microsoft announced that it will be expanding its Xbox cloud gaming operations to Brazil, Mexico, Australia, and Japan. There will be over 100 video games offered in these countries and the selections will be locally modified. With this development, Microsoft Xbox cloud gaming will now be available in 26 countries.
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Cloud Gaming Industry Survey by Category
By Device Type:
- Smartphones
- Tablets
- Gaming Consoles
- PCs & Laptops
- Smart TVs
- Head-Mounted Displays
By Gamer Type:
- Professional Gamers
- Casual Gamers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
FAQ’s:
- How much revenue did the cloud gaming market generate in 2021?
- At what rate is demand for cloud gaming predicted to rise?
- Which regional market is expected to showcase high growth?
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