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Global Cloud Gaming Market – Top Devices like Gaming Consoles, Smartphones, Smart TV, LEDs among others driving market growth - by PMI

Covina CA, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Major driving factors such as commercialization of 5G, the rise in a number of gamers, and the upsurge of immersive and competitive gaming on mobile. An increase in the number of internet users is also expected to drive cloud gaming growth during the forecast period.

The global cloud gaming market accounted for US$ 300 million in 2019 and is anticipated to register a CAGR of 55.3%.

The report "Global Cloud Gaming Market, By Type (Video Streaming, and File Streaming), By Device (Smartphones, Gaming Consoles, PCs, and Tablets), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

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Key Highlights:

Analyst View:

Rising trend of social media gaming

The rising trend of social media gaming is anticipated to have a positive impact on market growth. A significant percentage of the global population spends time on social networking sites such as Facebook, Instagram, and Reddit to play games. Additionally, social networking firms are focusing on acquiring cloud gaming providers to offer various cloud games on social media platforms and improve engagement with customers. For instance, in December 2019, Facebook, Inc. acquired Playgiga, a cloud gaming service provider. Through the acquisition, the company intended to launch cloud gaming services on its platform to increase user engagement.

Increasing uses of Smartphone

The proliferation of Smartphone across the world is further expected to drive the market growth. Smartphone developers are focused on developing gaming Smartphone’s to supply enhanced gaming experience to gamers. For instance, in February 2020, Vivo Mobile Communication Co., Ltd. launched a gaming Smartphone called iQOO3. The Smartphone is provided with a Snapdragon 865 processor and 5G capabilities to supply a seamless and enhanced gaming experience to gamers. However, the lack of proper network infrastructure, particularly in developing countries such as India, Brazil, Mexico, and Chile, causes fluctuating internet speed. This is likely to hamper the market growth.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cloud Gaming Market”, By Type (Video Streaming, and File Streaming), By Device (Smartphones, Gaming Consoles, PCs, and Tablets), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

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Key Market Insights from the report:        

The global cloud gaming market accounted for US$ 300 million in 2019 and is anticipated to register a CAGR of 55.3%. The market report has been segmented on the basis of type, device, and region.

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Competitive Landscape:

The prominent player operating in the global cloud gaming market includes Sony Corporation, Game Fly, Nvidia Corporation, Ubitus Inc., Playkey, PlayGiga, Tsinghua Tongfang Co., Ltd, Microsoft Corporation, Zynga, Inc., Cirrascale Corporation, Google, LLC, and Hatch Entertainment Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Key Topics Covered

  1. Introduction
  1. Research Methodology
  2. Executive Summary
  1. Investment Analysis
  2. Competitive Analysis

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