Selbyville, Delaware Global Cloud Gaming Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2025. Cloud Gaming Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Cloud Gaming market and provides information regarding the revenue for the period 2019 to 2025.
The emergence of 5G technology has brought about a fundamental shift in the communication landscape and given rise to new distribution models in the gaming industry. Countries across the globe including China, the U.S., Japan, and South Korea are investing in upgrading the connectivity infrastructure to gain larger macroeconomic benefits. 5G communication technology can offer faster transmission speeds across various remote locations. As the cloud gaming model requires high transmission speeds, the introduction in 5G architecture incentivizes platform providers to expand their network in the region. The 5G architecture effectively deals with latency issues, providing a seamless gaming experience to customers.
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Cloud Gaming Market is expected to surpass USD 8 billion by 2025. The prices of associated gaming consoles have increased dramatically over the years. In the present scenario, purchasing these high-end games requires considerable investment for customers. The average price a typical gamer invests in assembling his/her games consoles ranges between USD 800 to USD 1,000. The prices of gaming consoles have kept on changing from generation to generation and year to year based on the integration of new advanced components in machines. This price surge has restricted its usage in over 70% of its potential buyers. Over 60% of gamers across the globe do not have access to computer systems that support specifications needed to play AAA level games. The introduction of cloud gaming approach can enable companies to expand the customer base across various price-sensitive customers, increasing their profitability and generating new revenue streams.
The smartphones & tablets market is projected to attain a growth rate of more than 45% over the projected time period due to the gradually rising adoption of smartphones around the world. The global smartphone penetration in 2018 was over 39% in 2018 and is anticipated to grow to over 48% by 2022. The cloud gaming platforms are leveraging the growing adoption of smartphones to expand their customer base in numerous price-sensitive regional markets. The console market dominated the cloud gaming market with over 60% revenue in 2018. This is attributed to the robust distribution network of gaming majors such as Microsoft and Sony. The high price of gaming consoles has been restricting its adoption among price-sensitive buyers. The advent of the cloud gaming model has provided console manufacturers with lucrative opportunities to monetize their existing library of games, enhancing their profitability.
The Business-to-Business (B2B) cloud gaming market is anticipated to attain a growth rate of over 40% over the forecast timeline. This is credited to the rising number of strategic initiatives among cloud gaming platform providers and internet service providers. The internet service providers are forming tie-ups with cloud gaming platforms to capitalize on their existing fiber investments in various developed regions. The Business-to-Consumer (B2C) model has been widely adopted by console manufacturers to reduce their reliance on external stakeholders. It also allows companies to personalize their product offerings to best suit their customer requirements.
North America held more than 45% of the total revenue in the global cloud gaming market in 2018. Large players in the region, such as Microsoft and Electronic Arts, are conducting various strategic initiatives to augment their existing product features. The presence of strong telecommunication architecture is encouraging the companies to launch their product offerings in the region. The Asia Pacific cloud gaming market is expected to register a CAGR of 46% over the forecast time period due to the rising frequency of 5G development initiatives in the region. The inexpensive nature of the cloud gaming platform is driving its usage among various cost-sensitive gamers.
The cloud gaming market is driven by large game manufacturers and publishers such as Electronic Arts, Sony, and Microsoft. The players are forming partnerships with console developers to enhance their product features. For instance, in May 2019, Sony signed an agreement with Microsoft to build a new & advanced cloud gaming platform & content streaming solution. The players operating in the market are Apple, Cloudzen, Electronic Arts, Broadmedia GC, RemoteMyApp, RemotrCloud, Sony, Wiztivi, PlayKey, Rainway, Playcast, Playgiga, Playcast, Playgiga, Nvidia, Paperspace, Parsec, and Advanced Micro Devices.
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