Cloud Gaming Market Opportunities and Challenges

Northbrook, USA, 2020-Jan-22 — /EPR Network/ —

The cloud gaming market is estimated to be valued at USD 306 million in 2019 and is projected to reach USD 3,107 million by 2024, at a CAGR of 59.0%. The major driving factors observed are the commercialization of 5G, the rise in a number of gamers, the upsurge of immersive, and competitive gaming on mobile. An increase in the number of internet users is also expected to drive the cloud gaming market growth during the forecast period.

The persistent rise in the demand for high-speed internet and large network coverage for gaming devices is expected to propel the growth of the cloud gaming market.

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Based on offering, game platform services are expected to witness the highest growth in the coming years owing to the presence of key market players such as Microsoft, Amazon Web Services, and Google. For instance, in March 2019, Google unveiled Stadia, a cloud gaming service that enables instant streaming of games on TV, desktop, laptop, tablet, or smartphone and allows users to seamlessly swap between the platforms with the help of wireless controller that connects directly to Google’s cloud.

Based on devices, the gaming console segment will have a major share in the cloud gaming market owing to the extensive and robust distribution network of major players, such as Sony and Microsoft. The launch of cloud gaming platforms has rendered console manufacturers with a favorable opportunity to monetize the existing library of gaming content and augment their product capabilities. These players are primarily employing their cloud gaming platforms to generate recurring revenue streams through their existing gaming users.

Based on the solution type, video streaming is expected to grow at the highest rate. Video streaming solution relieves clients from computationally intensive graphics rendering and is ideal for clients with resource-constrained devices. Additionally, in this approach, computational load is paid along with network load since transmitting videos is more expensive than transmitting graphics commands.

Based on gamer type, the avid gamer segment held the largest market size. The larger market share of avid gamer is attributed to their regular presence in the gaming market. However, these gamers are attributed to have a stake of 15–25% of total sales volume, and they tend to be more price-sensitive compared to serious gamers. An avid gamer may become a serious gamer, but time constraints limit this possibility. Such gamers treat gaming as an alternative source of recreation and may temporarily stop gaming for studies, jobs, outdoor games, dis-interest, or boredom.

The cloud gaming market in APAC is foreseen to augment at a significant rate owing to the increasing number of 5G infrastructure development initiatives in the region. Additionally, the cost-effective nature of the cloud gaming platforms is promoting its usage across various new customer classes that vary in investing in gaming systems due to their expensive nature.

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In the coming years, penetration of cloud gaming in a multiplayer scenario and is expected to fuel the cloud gaming market. Also, cross-platform gaming experience and greater utilization of cloud gamification are among the factors transforming the cloud gaming market.

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