Visiongain Publishes Cloud Gaming Market Report to 2031
30 March 2021
Visiongain has published a new report on Cloud Gaming Market Report to 2031: Forecasts By Offering (Infrastructure, Gaming Platform Services), By Device (Smartphones & Tablets, Gaming Consoles, Personal Computers & Laptops, Smart Televisions, Head-Mounted Displays), By Type (Video Streaming, File Streaming), By End-User (Business-to-Business, Business-to-Customers). PLUS, Profiles of Cloud Gaming Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios
Global cloud gaming market was valued at US$ XX billion in 2019 and is projected to reach a market value of US$ XX billion by 2031.
Cloud gaming is also called as on-demand gaming or gaming as a service. It refers to the online gaming services which run on the remote servers and is streamed directly to the user’s device. Rising Internet Penetration, increasing proliferation of smartphones and smart TVs, and reduction in cost related to gaming hardware and access time of games are the factors driving the growth of the cloud gaming market. The market seeks growth opportunities from the commercialization of 5G technology and the growing popularity of GPU-as-a-service. However, lack of awareness among end-users, server allocation concerns in case of multiplayer cloud gaming, and lack of proper network infrastructure in developing countries are some of the factors hampering the market growth during the forecast period.
COVID-19 Impact on Cloud Gaming Market
The outspread of coronavirus in the past few months has affected the businesses and livelihood of the people at an unprecedented rate. Following the guidelines set by the World Health Organization (WHO), the governments of almost all the countries across the globe have imposed nationwide lockdown to minimize the further spread of the virus. However, even during this pandemic, cloud computing technology has witnessed a significant demand than ever. There has been an increasing demand for Internet-based services among the consumers for entertainment purpose during the lockdown, thereby driving the need for cloud gaming services. Cloud-based gaming allows the user to save the files on the cloud server which helps the user to access them at any point of time and through any platform such as smartphone, laptops, and gaming consoles among others. Cloud gaming has witnessed a surge in user engagement and boost in demand from casual, avid, as well as hardcore across the globe amidst the COVID-19 pandemic. The US and India are two such countries which have witnessed a massive demand for cloud or on-demand gaming during the first of 2020. The need for on-demand gaming was so high during the period that the service providers have had to limit the bandwidth of the game streaming services to ensure a smooth gaming experience for the gamers across the globe. Cloud gaming witnessed the unprecedented demand from consoles, pcs, as well as smartphones during the COVID-19 outbreak, thereby boosting the market growth rate.
Rising Internet Penetration
The growing focus of governments on digitalization has offered opportunities to the users to stay connected. The developing nations have been continually focussing on developing the network infrastructure to provide seamless Internet connectivity to its users which is driving the demand for the cloud gaming market. Furthermore, the proliferation of smartphones offering advanced features and Internet-based applications is further propelling the demand for cloud gaming, thereby driving the market growth in the region.
Reduction in Cost Related to Gaming Hardware and Access Time of Games
The cloud platform has proven to offer significant benefits in terms of scalability, flexibility, continuity, and cost efficiency due to which the technology has witnessed a surge in recent years. Cloud gaming allows remote storage of the gaming content across a connected environment which reduces the requirements and concerns of storage and other related IT hardware. Also, the cloud platform offers scalability to feature, which offers optimum gaming experience evening during surge times. Moreover, the ability to access the gaming content across any platform at any given point of time increase the access times of the game.
Commercialization of 5G Technology
5G technology is commercializing rapidly across various parts of the world. South Korea, the US, and China are the leading countries to develop and deploy 5G technology. The promising technology offers reduced latency, high bandwidth and capacity when compared to 4G. The seamless and reliable Internet connectivity provided by the 5G technology is expected to provide substantial growth prospects for the cloud gaming market during the forecast years.
The Growing Popularity of GPU-as-a-Service (GPUaaS)
GPU-as-a-Service (GPUaaS) is an on-demand graphic processing service. This cloud-based GPU model is low-cost as it requires minimal hardware, and provides on-demand scalability and elasticity. Moreover, it enables processing of complex tasks at a faster rate, thereby boosting up the performance and resource efficiency. GPUaaS is expected to offer a next-generation gaming experience, which enhanced graphics and computing capability. Thus, the growing popularity of GPUaaS is expected to drive the growth of the cloud gaming market.
The cloud gaming market is highly competitive. The key market players are highly focused on enhancing its research and development capabilities and involved in partnership & collaboration strategies for developing innovative and advanced technologies to offer an exceptional gaming experience to its end-users and obtain a competitive position in the market. Some of the companies profiled in the report include Intel Corporation, IBM Corporation, Microsoft Corporation, Google, NVIDIA Corporation, Amazon Web Services, Advanced Micro Devices, Sony Corporation, Tencent, and Electronic Arts, Inc.
December 2019, Tencent Games collaborated with NVIDIA Corporation to bring its PC gaming to the cloud platform in China. NVIDIA’s GPU technology powers the START cloud gaming service offered by the Tencent Games to provide enriched gaming experience by allowing access to the AAA games across underpowered devices anytime, anywhere.
May 2019, Microsoft Corporation collaborated with Sony Corporation on a new cloud-based solution for enhanced gaming experience and AI solutions. The two companies are expected to explore the developments of cloud solutions on Microsoft Azure platforms for their respective game streaming services.
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