Cloud Gaming Market Growth Analysis: Key Drivers and Industry Trends from 2024 to 2030

According to MarkNtel Advisors study the Global Cloud Gaming Market size was valued USD 2.8 Billion in 2023 and is projected to grow at around 30% CAGR during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Cloud Gaming market

Global Cloud Gaming Market Driver:

Ever-Increasing Consumer Demand for Seamless Gaming Experiences across Different Devices - Cloud gaming enables users to access & play games on different devices like smartphones, tablets, smart TVs, & low-spec PCs without the need for high-end gaming hardware or even regularly upgrading those systems to keep up with the latest gaming requirements. This accessibility & device flexibility appeal to a massive audience, including casual gamers who may not have powerful PCs or dedicated gaming consoles, thereby fueling the adoption of cloud gaming. Hence, by streaming games from remote servers, cloud gaming reduces the initial investment and offers a cost-effective alternative for users to access an extensive range of games without having to buy individual titles, i.e., the prime aspect projected to drive the Cloud Gaming Market during 2024-30.

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Scope of the Report and Cloud Gaming Market Segmentation:

By Components

• Cloud Gaming Platforms
• Content Services

By Type

• File Streaming
• Video Streaming

By Operating Model

• B2B
• B2C

By Device

• Smartphones
• Tablets
• Gaming Consoles
• PCs & Laptops
• Smart TVs
• Head Mounted Displays

By Gamer Type

• Casual Gamers
• Avid Gamers
• Lifestyle Gamers

Here, Casual gamers dominate the market with the largest share, and the same trend is expected during 2024-30.

Cloud Gaming Market Competitive Landscape

• NVIDIA Corporation
• Intel Corporation
• Google
• Microsoft Corporation
• Amazon Web Services Inc.
• Advanced Micro Devices
• Sony Interactive Entertainment LLC
• IBM
• Tencent
• Alibaba
• Apple, Inc.
• Ubitus Inc.
• Electronic Arts, Inc.
• Rainway
• Parsec Cloud, Inc.

Cloud Gaming Market Development:

• In April 2023, LG Electronics (LG) announced expanding the cloud gaming experience on its 2023 TVs by adding 4K (3,840 x 2,160) support for NVIDIA GeForce NOW in over eighty countries while also launching the popular Boosteroid service in over sixty countries. Post the additions of Blacknut & Utomik in September 2022, these new, compelling options will further bolster the suite of cloud gaming services available to LG TV users.
• In January 2022, Utomik announced signing a partnership with Samsung to bring Utomik's game subscription service to Samsung Smart TV users globally using its unique hybrid gaming platform. This partnership will provide the ever-growing audience access to Utomik's extensive library of high-quality, handpicked games.
• The same year & month, Microsoft announced its plans to acquire Activision Blizzard Inc., a leader in game development & interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft's gaming business across mobile, PC, console & cloud and will provide building blocks for the metaverse.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

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