The
global cloud gaming market size is
expected to grow by USD 2.7 billion during the period 2020-2024, according to
the latest market research report by Technavio.
The high cost of gaming consoles and the need for specific equipment
such as physical copies of gaming software are helping to drive the cloud
gaming market. Cloud gaming does not require gamers to buy physical copies of
games and eliminates the need for regular hardware updates to play the latest
games. Moreover, cloud gaming services require lesser waiting time during
loading or updating as compared to conventional gaming. In addition, gaming
studios tend to offer subscriptions for cloud gaming which results in
significant cost savings. Thus, all the cost savings in terms of equipment, and
quick onboarding advantages will drive the growth of global cloud gaming market
during the forecast period.
As per Technavio, technological advances will have a positive impact on
the market and contribute to its growth significantly over the forecast period.
This research report also analyzes other significant trends and market drivers
that will affect market growth over 2020-2024.
Global Cloud Gaming Market: Technological Advances
Vendors are incorporating technological advances to cater to the demand
for products with features such as 5G network, superior game control, and
reduced frame refresh latency. In addition, the availability of advanced
controllers including the VR headsets, Bluetooth game controllers, and
touchscreens is also expected to improve the gaming experience. The growing
deployment of advanced technologies is also driving technology giants including
Microsoft, Apple, and Google to enter the cloud gaming market by leveraging 5G
game streams to any device. Therefore, technological advances are expected to
further drive the global cloud gaming market during the forecast period.
Global Cloud Gaming Market: Segmentation Analysis
This market report segments the global cloud gaming market by
platform (gaming consoles, computing devices, smart TVs, and mobile devices),
type (video streaming and file streaming) and geography (APAC, Europe, MEA,
North America, and South America)
North America led the cloud gaming market share in 2019 followed by
APAC, Europe, South America, and MEA. The growth of the cloud gaming market in
this region can be attributed to the strong presence and penetration of major
vendors in the region. In addition, the organization of gaming tournaments and
eSports events will also drive the growth of cloud gaming market in North
America. Furthermore, the rising adoption of secure cloud services and advanced
technologies such as 5G and artificial intelligence in gaming will also drive
the cloud gaming market during the forecast period.
Technavio’s sample reports are free of charge and contain multiple
sections of the report, such as the market size and forecast, drivers,
challenges, trends, and more. Request a free sample report
No comments:
Post a Comment