Cloud Gaming Market Destined to Reach US$ 13,581.3 Million (CAGR of 47.5%) During 2023-2028 | Research Report

The latest report by IMARC Group, titled "Cloud Gaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the global cloud gaming market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global cloud gaming market size reached US$ 1,286.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 13,581.3 Million by 2028, exhibiting a growth rate (CAGR) of 47.5% during 2023-2028.

Cloud gaming is a type of gaming technology that allows players to stream games over the internet without the need for powerful local hardware. The process involves connecting remotely to an external organization that houses the game software on its server. This enables individuals to play games online without the need of acquiring or downloading the software. It offers several benefits, such as the ability to play games on devices that would not be able to run them locally, such as low-end computers, smartphones, and tablets. It also eliminates the need for expensive gaming hardware, including consoles or gaming PCs, and allows for easier game updates and maintenance, as all updates are present on the server rather than requiring users to download and install updates locally. It enables video game developers to create games for specific hardware without considering a minimum system optimization for lower-end consumer consoles or PCs, thus reducing development times and saving the capital in the long run.

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Global Cloud Gaming Market Trends:

The increasing demand for high-quality gaming experiences among the masses is primarily driving the market. Moreover, the easy availability of high-speed internet infrastructure, which is required for smooth gameplay, is further contributing to the demand across the globe. In line with this, ongoing developments in 5G technology and the growing popularity and migration toward cloud technology are acting as other growth-inducing factors. Apart from this, numerous major companies are offering cloud gaming services, or games-as-a-service to offer services in the form of subscriptions, which is providing a boost to the market.

Furthermore, the increasing popularity of social media games among the masses is creating a positive market outlook. Since cloud gaming allows individuals to access games through remote servers instead of having to install them on a console or computer, it aids in eliminating the need for storage and purchasing the most recent gaming PC or console, which is impacting the market favorably. Other factors, including increasing demand for immersive gaming experiences, inflating disposable income levels of the masses, rising popularity of virtual and augmented reality gaming, and cross-platform play devices among individuals, are also influencing the market.

Competitive Landscape:

By IMARC Group, the Top 15 Cloud Gaming Companies in the World 2023:

• Utomik B.V.
• Nvidia Corporation (NASDAQ: NVDA)
• Numecent Holdings Ltd.
• RemoteMyApp SP ZOO (Vortex) (OTCMKTS: VTXB)
• Parsec Cloud Inc.
• Paperspace
• LiquidSky Software Inc.
• Simplay Gaming Ltd.
• Ubitus Inc.
• Microsoft Corporation (NASDAQ: MSFT)
• Sony (NYSE: SONY)
• Amazon web services (NASDAQ: AMZN)
• Google (NASDAQ: GOOGL)
• IBM Corporation (NYSE: IBM)
• Samsung electronics (KRX: 005930)
• GameFly
• CiiNow, Inc.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/cloud-gaming-market

Key Market Segmentation:

Breakup by Devices Type:

• Smartphones
• Smart TVs
• Consoles
• Tablets
• PCs

Breakup by Spectrum:

• Video Streaming
• File Streaming

Breakup by Genre:

• Adventure/Role Playing Games
• Puzzles
• Social Games
• Strategy
• Simulation
• Others

Breakup by Spectrum:

• Casual Gamers

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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