Cloud Gaming Market by Type (Video Streaming, File Streaming), Gamer Type (Casual, Avid, Lifestyle, Hardcore), Device (Smartphones, Gaming Consoles, PC & Laptops, Tablets, Head-mounted Displays, Smart TVs), & Region for 2024-2031
Report ID: 30331|No. of Pages: 202
Cloud Gaming Market by Type (Video Streaming, File Streaming), Gamer Type (Casual, Avid, Lifestyle, Hardcore), Device (Smartphones, Gaming Consoles, PC & Laptops, Tablets, Head-mounted Displays, Smart TVs), & Region for 2024-2031
Cloud Gaming Market Valuation – 2024-2031
The availability of 5G and increased network capacity, which lower latency and improve streaming quality to make high-quality gaming more accessible, are factors propelling the Cloud Gaming Market. According to the analyst from Verified Market Research, the Cloud Gaming Market is estimated to reach a valuation of USD 4.29 Billion over by 2031 around USD 1.82 Billion valued in 2023.
Furthermore, the growing popularity of smartphones and tablets enables consumers to participate in cloud gaming without the need for expensive hardware, democratizing access to premium gaming content and substantially extending the user base. It enables the market to grow at a CAGR of 12.5% from 2024 to 2031.
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Cloud Gaming Market: Definition/ Overview
Cloud gaming is the process of streaming video games from remote servers to local devices without the need for downloads or installations. This technology enables consumers to enjoy high-quality games on a variety of devices, including smartphones, tablets, and smart TVs, as long as they have a reliable internet connection. Cloud gaming applications are subscription-based services that provide huge game libraries, allowing players to play a variety of titles on demand without the need for high-end gear. Furthermore, it promotes cross-platform gaming experiences and improves accessibility, making gaming more inclusive for consumers with varying device capabilities.
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What are the Factors that Surge the Demand for the Cloud Gaming Market?
The broad availability of high-speed internet and the deployment of 5G networks are important drivers of cloud gaming. The International Telecommunication Union (ITU) reports that by the end of 2021, 4.9 billion people were utilizing the Internet, accounting for 63% of the global population. This number has risen substantially from 4.1 billion people in 2019. Also, the GSMA estimates that 5G connections will reach 1.8 billion by 2025, accounting for 21% of overall mobile connections. This increased connectivity allows for smoother streaming and decreased latency, which enhances the cloud gaming experience.
The gaming industry is progressively adopting subscription-based models, which are compatible with cloud gaming services. According to the U.S. Consumer Technology Association (CTA), 35% of US gamers subscribed to a gaming service in 2020, up from 29% in 2019. This trend is projected to continue, with major industry participants focusing on subscription-based cloud gaming solutions. For example, in January 2022, Microsoft stated that its Xbox Game Pass service, which includes cloud gaming, had grown to 25 million members, up from 18 million in January 2021.
Furthermore, the growing smartphone user base is fueling the expansion of cloud gaming, particularly in the mobile market. The mobile gaming sector is likewise growing significantly. According to the Entertainment Software Association (ESA), 73% of gamers in the United States use smartphones or tablets as their primary gaming platform. This big and expanding mobile user base creates a significant opportunity for cloud gaming services.
What Factors Hinder the Growth of the Cloud Gaming Market?
Cloud gaming relies significantly on fast, low-latency internet connections to provide a smooth gaming experience. Users in places with weak or inconsistent internet connectivity encounter latency, interruptions, and lower video quality, which leads to discontent and impedes wider adoption of cloud gaming services.
Furthermore, cyberbullying and online harassment are significant issues in the cloud gaming environment. The prevalence of these concerns fosters a toxic environment for gamers, especially among younger audiences, who are frequently targeted. This not only has an impact on user experience but also results in lower participation in cloud gaming platforms, as people prefer to avoid situations where they feel unsafe or harassed.
Category-Wise Acumens
How Does the Increasing Demand for Video Streaming Drive the Market Growth?
According to VMR analysis, the video streaming segment is estimated to hold the largest market share during the forecast period. Video streaming enables players to play high-quality games without requiring long downloads or installations. This immediate accessibility appeals to a wide range of users, allowing them to leap into games and smoothly transition between titles, increasing total user engagement and satisfaction.
Improvements in video streaming technologies, like as adaptive bitrate streaming and better compression techniques, ensure that gamers have low latency and high-quality graphics. These developments not only increase gameplay quality but also draw more people to cloud gaming platforms, cementing video streaming’s dominance in the market.
Furthermore, the increased popularity of subscription models helps contribute to video streaming’s dominance. Consumers demand variety and affordability, thus services that offer huge gaming libraries for a monthly charge respond to these needs. This concept encourages more gamers to investigate cloud gaming choices, as they may access a diverse range of titles without incurring the financial strain of purchasing individual games.
How Does Smartphones Propel the Growth of the Cloud Gaming Market?
The smartphone segment is estimated to dominate the Cloud Gaming Market during the forecast period. Smartphones are widely available and frequently the primary device for many users, making them an excellent platform for cloud gaming. Smartphones, with their strong processors and high-resolution displays, may provide great gaming experiences without the use of dedicated gaming hardware. This accessibility enables casual gamers to readily interact with cloud gaming services, considerably increasing the user base.
The deployment of 5G networks improves mobile internet speeds and lowers latency, making it possible to stream high-quality games from smartphones. This technological innovation provides a flawless gaming experience equivalent to traditional consoles and PCs, prompting more consumers to choose mobile cloud gaming as their preferred mode of play.
Furthermore, the increase of mobile game libraries is critical to pushing smartphone dominance in cloud gaming. The huge amount of games available on platforms such as Google Play and the Apple App Store cater to a wide range of preferences, from recreational titles to competitive esports. This wide range appeals to a wider audience, cementing smartphones’ status as the top platform for cloud gaming experiences.
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Country/Region-wise Acumens
How does a Large & Growing Mobile Gaming Population Presence Influence Market Growth in Asia Pacific?
According to VMR analyst, the Asia Pacific region is estimated to dominate the Cloud Gaming Market during the forecast period. The Asia Pacific region has a large and fast-growing mobile gaming user base, which is pushing the adoption of cloud gaming solutions. According to the Global System for Mobile Communications Association (GSMA), the Asia-Pacific region includes some of the world’s largest mobile markets. By 2025, they expect 72% of the region’s population (3.1 billion people) to be mobile internet users, up from 58% in 2020. This large mobile user base creates an ideal environment for cloud gaming services, as many of these users are potential consumers of mobile-based cloud gaming platforms.
Furthermore, the deployment of 5G networks in the Asia-Pacific region is advancing, providing the infrastructure required for high-quality cloud gaming. According to the GSMA, 5G connections in Asia Pacific are estimated to total 1.2 billion by 2025, accounting for 68% of global 5G connections. Countries such as South Korea are leading the pace, with the Korean Ministry of Science and ICT reporting that the country has over 33 million 5G subscribers as of May 2023, accounting for over 47% of total mobile subscriptions. This widespread deployment of 5G provides lower latency and higher bandwidth, which are critical for flawless cloud gaming experiences.
What Factors Contribute to the Potential Opportunities in the North American Region?
North America is estimated to exhibit substantial growth within the Cloud Gaming Market during the forecast period. North America has broad high-speed internet coverage and rapid 5G implementation, which is critical for cloud gaming. According to the Federal Communications Commission (FCC), as of 2021, 94.4% of the US population had access to fixed terrestrial broadband at speeds of 25/3 Mbps or faster. Also, CTIA (The Wireless Association) estimates that by 2025, 5G networks will cover 80% of the US population. This powerful internet infrastructure serves as the cornerstone for high-quality cloud gaming experiences, fueling regional market growth.
Furthermore, North America has a large and active gaming population, which provides a big market for cloud gaming services. According to the Entertainment Software Association (ESA), there were over 215.5 million gamers in the United States alone by 2022, with 69% of Americans playing video games daily. Also, the ESA reports that the average age of a player in the United States is 33 years old, indicating a mature market with disposable income to spend on gaming services. This big and diverse gaming population is an ideal target for cloud gaming providers, driving market growth in the region.
Competitive Landscape
The competitive landscape of the Cloud Gaming Market is rapidly changing, with significant development fueled by technical advancements and shifting customer preferences. As the market grows, more stakeholders, including telecom providers and gaming platforms, are working together to improve service delivery and user experiences.
Some of the prominent players operating in the Cloud Gaming Market include Microsoft, Google, Nvidia, Sony, Amazon, Tencent, Alibaba, Ubitus, Blacknut.
Latest Developments
- In April 2023, LG Electronics expanded its cloud gaming offerings by adding 4K support for NVIDIA GeForce NOW in over 80 countries. Additionally, LG TVs gain access to the popular Boosteroid service in over 60 countries, further widening the selection of cloud gaming options for LG users.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2031 |
| Growth Rate | CAGR of ~12.5% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2020-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis. |
| Segments Covered |
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| Regions Covered |
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| Key Players | Microsoft, Google, Nvidia, Sony, Amazon, Tencent, Alibaba, Ubitus, Blacknut. |
| Customization | Report customization along with purchase available upon request. |
Cloud Gaming Market, By Category
Type:
- Video Streaming
- File Streaming
Gamer Type:
- Casual Gamers
- Avid Gamers
- Lifestyle Gamers
- Hardcore Gamers
Device:
- Smartphones
- Gaming Consoles
- PC and Laptops
- Tablets
- Head-mounted Displays
- Smart TVs
Geography:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our sales team at Verified Market Research.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL CLOUD GAMING MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
3.5 Market attractiveness
4 GLOBAL CLOUD GAMING MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL CLOUD GAMING MARKET, BY CLOUD GAMING SERVICE
5.1 Overview
5.2 Streaming
5.3 Downloadable Cloud Gaming
5.4 Hybrid Cloud Gaming
6 GLOBAL CLOUD GAMING MARKET, BY DEVICE COMPATIBILITY
6.1 Overview
6.2 PC
6.3 Console
6.4 Smart TVs
7 GLOBAL CLOUD GAMING MARKET, BY BUSINESS MODEL
7.1 Overview
7.2 Subscription-based
7.3 Free-to-play with In-Game Purchases
7.4 Ad-supported
8 GLOBAL CLOUD GAMING MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East and Africa
9 GLOBAL CLOUD GAMING MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
9.4 ACE Matrix
10 COMPANY PROFILES
10.1 Microsoft (Xbox Cloud Gaming)
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 Google (Stadia)
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Nvidia (GeForce Now)
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Sony (PlayStation Now)
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Amazon (Luna)
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Tencent (Start Cloud)
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 Alibaba (Ecloud Gaming)
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 Ubitus
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Blacknut
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
11 KEY DEVELOPMENTS
11.1 Product Launches/Developments
11.2 Mergers and Acquisitions
11.3 Business Expansions
11.4 Partnerships and Collaborations
12 Appendix
12.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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