According to Stratistics MRC, the Global Cloud Gaming Market is accounted for $1.46 billion in 2023 and is expected to reach $18.34 billion by 2030 growing at a CAGR of 43.5% during the forecast period.
Cloud gaming is a streaming service that enables users to play video games remotely via the internet, eliminating the need for high-end hardware. Games run on powerful servers in data centers, with video and input streamed to the user’s device in real-time. This allows gamers to access and play high-quality games on various devices, including smartphones, tablets, computers, and smart TVs, regardless of their processing capabilities.
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Europe is expected to witness highest CAGR over the projection period, owing to a combination of factors including technological innovation, increasing demand for gaming content, and widespread access to high-speed internet. Countries such as the United Kingdom, Germany, France, and the Nordic countries are emerging as key players in this expanding market. In addition, regulatory frameworks in Europe are generally supportive of digital innovation, further fueling the growth of the cloud gaming industry.
Some of the key players in the Cloud Gaming Market include Amazon web services, Utomik B.V., Parsec Cloud Inc, Samsung electronics, Sony, Nvidia Corporation, Google, LiquidSky Software Inc., Numecent Holdings Ltd., Ubitus Inc, GameFly, Microsoft Corporation, IBM Corporation, Paperspace and CiiNow, Inc.
Key Developments:
In March 2024, Leidos announced it has entered into a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS). The agreement will leverage each company’s unique strengths to accelerate innovation for new and existing customers in both the public sector and select commercial markets.
In January 2024, Google Cloud and Hugging Face announced a new strategic partnership that will allow developers to utilize Google Cloud’s infrastructure for all Hugging Face services, and will enable training and serving of Hugging Face models on Google Cloud.
In December 2023, IBM announced that it has entered into a definitive agreement with Software AG, a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG’s Super iPaaS (integration platform-as-a-service) enterprise technology platforms, for €2.13 billion in cash.
In October 2023, IBM announced an expansion of its relationship with Amazon Web Services (AWS) to help more mutual clients operationalize and derive value from generative artificial intelligence (AI).
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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