Cloud Gaming is fastest growing segment fueling the growth of the Global Cloud Gaming Market

-
Cloud Gaming Market
Cloud Gaming Market

The global Cloud Gaming Market is estimated to be valued at US$ 513.48 Mn in 2023 and is expected to exhibit a CAGR of 42% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Cloud gaming enables gamers to play AAA games on any device without the need for expensive console or gaming PC hardware. It allows users to enjoy high-end graphics intensive games instantly on a wider range of devices through cloud-based servers.

Market key trends:
One of the major trend in the cloud gaming market is the increasing adoption of 5G technology. As 5G delivers faster connectivity speed and lower latency compared to 4G, it is perfect for cloud gaming. 5G networks will help improve graphics and boost the responsiveness of gameplay. This will significantly boost the adoption of cloud gaming as latency issues will be eliminated with 5G network connectivity.

Segment Analysis
The global cloud gaming market size is segmented into gaming type, device type, solution type, and region. Based on gaming type, the market is segmented into casual gaming and serious gaming. The casual gaming segment dominated the market in 2020 owing to the easy accessibility and free-to-play games offered in this segment. Based on device type, the market is segmented into smartphones, tablets, gaming consoles, personal computers & laptops, and smart TVs. Smartphones capture the largest share due to their widespread adoption and affordable prices. In terms of solution type, the market is divided into video streaming and file streaming. Video streaming dominated as it provides better graphics and interaction quality.

Key Takeaways
The global cloud gaming market is expected to witness high growth, exhibiting a CAGR of 42% over the forecast period, due to increasing adoption of smartphones and penetration of high-speed internet.

Regional analysis: North America dominated the market in 2020 with a share of 42% owing to well-developed infrastructure to support the cloud gaming technology. Asia Pacific is expected to witness the fastest growth during the forecast period owing to rising digitalization and increasing broadband penetration in countries such as China and India.

Market size: The global cloud gaming market size was valued at US$ 513.48 Mn in 2023 and is expected to reach US$ 3867.96 Mn by 2030 as more people opt for cloud gaming services on the go due to advantages like accessibility, centralization, and pay-per-play options.

Key players: Key players operating in the cloud gaming market are Amazon Web Services Inc., Apple, Inc., Electronic Arts, Inc., Google Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NVIDIA Corporation, Sony Interactive Entertainment LLC, Ubitus Inc., and others. Microsoft dominates the market owing to its Game Pass which allows users to stream and download games on devices.

Comments

Post a Comment

Popular posts from this blog

The global Ion Exchange Membrane Market Growth Accelerated by Increasing Industrialization and Urbanization

-
Image
Ion exchange membranes are selectively permeable membranes that transport ions from one solution to another by ion exchange. They are used in various applications such as water purification, wastewater treatment, chlor-alkali industry, and fuel cells. The increasing industrialization and urbanization is creating a huge demand for water and power. Ion exchange membranes help provide clean water and green energy production through desalination and fuel cells. The global Ion Exchange Membrane Market is estimated to be valued at US$ 908.33 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing industrialization and urbanization is one of the key trends driving the growth of the ion exchange membrane market. As industries expand production and urban populations increase globally, the demand for drinking water and power rises substantially. Ion exc...
Read more

Healthcare IT (HCIT) is fastest growing segment fueling the growth of Drug for Abuse Testing Devices Market

-
Image
The global Drug For Abuse Testing Devices Market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Drug for abuse testing devices help identify the presence of drugs or metabolites in the body by analyzing samples such as urine, blood, hair, oral fluid etc. These products play an important role in drug screening programs by ensuring job security, public safety and health. Market key trends: The adoption of healthcare IT solutions is one of the key trends witnessed in the drug for abuse testing devices market. Integration of IT with diagnostic products helps generate faster and accurate test results while streamlining workflow. IT solutions also enable efficient data management and sharing of reports between labs and law enforcement agencies. This significantly improves monitoring and prevention of drug abuse in the s...
Read more

Electric Powertrain Market Growth Accelerated by Adoption of Stringent Emission Regulations

-
Image
The electric powertrain incorporates electric motor, power electronics, and transmission and helps convert energy from external power supply into mechanical energy in electric vehicles. Growing demand for zero-emission and fuel-efficient vehicles coupled with stringent emission regulations imposed by regulatory bodies globally are anticipated to drive the demand for electric powertrains. Additionally, development of high-performance lithium-ion batteries with high energy density at affordable costs has facilitated automakers to adopt electric powertrains in their vehicles. The global Electric Powertrain Market is estimated to be valued at US$ 81.7 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Adoption of stringent emission regulations imposed by governmental organizations across the globe to curb carbon emissions is a key trend fueling the growth of ...
Read more