Cloud Gaming Market Size Worth $7.24 Billion By 2027 | CAGR: 47.9%: Grand View Research, Inc.

SAN FRANCISCO, Aug. 17, 2020 /PRNewswire/ -- The global cloud gaming market size is expected to reach USD 7.24 billion by 2027, according to a new study by Grand View Research, Inc. expanding at a CAGR of 47.9% over the forecast period. Developments in cloud technology have enabled the rapid distribution of cloud gaming models. Cloud gaming enables remote access to interactive games and streaming videos over the internet. It also allows devices to smoothly run various high-quality next-generation games with lower computational power. These factors are anticipated to drive the market growth over the forecast period.

Rising investments in 5G technology and access to numerous games on the cloud at affordable prices are also expected to contribute to market growth. Furthermore, market players are observed partnering with telecom companies to deliver cloud gaming services globally. For instance, in January 2020, Microsoft Corporation partnered with SK Telecom Co., Ltd. to expand the reach of its Project xCloud Preview, a game streaming solution in South Korea.

Key suggestions from the report:

• The file streaming segment is expected to register the highest growth rate over the forecast period, as file streaming enables vendors to offer an enhanced and seamless gaming experience to users despite the lower internet speeds
• The introduction of 5G and convenience of smartphones, which facilitate seamless cloud gaming, are anticipated to drive the growth of the smartphone segment
• The avid gamers segment is anticipated to record a considerable growth rate over the forecast period. The rise in competitive and immersive gaming on mobile devices is anticipated to drive the segment growth
• North America is anticipated to record remarkable growth from 2020 to 2027. This is attributed to the rising penetration of high-speed internet and an increasing number of gamers in the region

Read 120 page research report with ToC on "Cloud Gaming Market Size, Share & Trends Analysis Report By Type (File Streaming, Video Streaming), By Device (Smartphones, Tablets, Gaming Consoles), By Gamer Type, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/cloud-gaming-market

Increased demand has been witnessed for cloud gaming as an educational tool in the educational sector as it increases student motivation, intellectual and social skills, and concentration. Cloud gaming offers a library of latest and graphically advanced games and minimizes license requirements. Moreover, the wide potential for cloud gaming possibilities in an educational environment is now being realized, thus driving the demand for gaming content in the educational sector over the forecast period.

Key market players are focused on offering new products and solutions and adopting mergers and acquisitions, partnerships, and collaboration strategies to remain competitive in the market. For instance, in March 2020, Tencent signed a partnership with Huawei Technologies Co., Ltd. to set up a laboratory for developing a cloud gaming platform called GameMatrix in China. Through the partnership, the company aims to leverage Huawei's computing power to build its gaming platform.

Grand View Research has segmented the global cloud gaming market based on type, device, gamer type, and region:

• Cloud Gaming Type Outlook (Revenue, USD Million; 2016 - 2027)
• File Streaming
• Video Streaming
• Cloud Gaming Device Outlook (Revenue, USD Million; 2016 - 2027)
• Smartphones
• Tablets
• Gaming Consoles
• PCs & Laptops
• Smart TVs
• Head-Mounted Displays
• Cloud Gaming Gamer Type Outlook (Revenue, USD Million; 2016 - 2027)
• Casual Gamers
• Avid Gamers
• Lifestyle Gamers
• Cloud Gaming Gamer Type Outlook (Revenue, USD Million; 2016 - 2027)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• The Middle East & Africa

List of Key Players in Cloud Gaming Market

• Amazon Web Services Inc.
• Microsoft Corporation
• Intel Corporation
• Apple, Inc.
• Google Inc.
• International Business Machines Corporation
• Ubitus Inc.
• NVIDIA Corporation
• Sony Interactive Entertainment LLC
• Electronic Arts, Inc.

Find more research reports on Next Generation Technologies Industry, by Grand View Research:

• Video Game Market– The video game market is experiencing high demand in various avenues such as educational institutes and corporate enterprises. The adoption of gaming as an educational tool provides opportunities for deeper and cognitive learning.
• Public Cloud Market– Rapidly increasing digital transformation among industries, penetration of internet and mobile devices, and rise in consumption of big data are the primary drivers fostering market growth.
• Cloud Managed Services Market – The growing emphasis on mobility coupled with the requirement to focus on core business functions will drive the market growth rate.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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