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Cloud Gaming Market to Reach USD 84.97 Billion by 2030; Rising Demand for Mobile Gaming Solutions is Likely to Propel Growth

June 02, 2023 | Information & Technology

The global cloud gaming market size was USD 3.37 billion in 2022. The market is projected to grow from USD 5.76 billion in 2023 to USD 84.97 billion by 2030 at a CAGR of 46.9% during the 2023-2030 period. Fortune Business Insights™ publishes this information in its report titled, "Cloud Gaming Market Size, Share & COVID-19 Impact Analysis, By Device (Smartphone, Laptop/Tablets, Personal Computer, Smart TV, and Consoles), By Streaming Type (Video Streaming and File Streaming), By End-User (Casual Gamers, Avid Gamers, and Hardcore Gamers), and Regional Forecast, 2023-2030."


According to the study, the market is anticipated to witness robust growth due to rising technical development and demand for online gaming solutions. Also, the key market players focus on implementing various business growth strategies to propel growth and globalize their services. 


Stay-at-Home Regulation Imposed by Governments Across Nations to Surge Gaming Demand


The demand for cloud gaming has witnessed growth during the pandemic due to the rising demand for online games from youth and gamers. The government imposed strict restrictions and instructed people to stay at home during the lockdown. People adopted online gaming solutions with high data connectivity during the pandemic period. These factors bolstered the market growth and development in recent years.


Antstream Arcade Acquires USD 3.5 Million from Atari


Antstream Arcade, a cloud gaming platform, acquired USD 20 million in funding, from which Atari invested USD 3.5 million. The company acquired this investment on the basis of the invention and technological development of its gaming platform. Their major motive is to globalize their business and make it compatible and available on the maximum number of devices possible. These strategies will bolster organizational growth and development in the coming years.


Increasing Demand for Mobile Gaming Applications to Propel Growth 


The global cloud gaming market growth is attributed to the increasing demand for online gaming solutions by hardcore gamers and the young generation. Also, rising technological advancements and increasing investment in research & development activities are expected to drive the market growth in the coming years. Furthermore, 5G services with low latency are projected to support gaming applications. Increasing demand for mobile gaming applications in all segmented regions is anticipated to propel growth.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/cloud-gaming-market-102495


New Service Launch Allows Companies to Strengthen Their Market Position


The key market players focus on expanding their business reach by increasing investment in technological development. Also, the companies aim to increase their production capabilities to improve their business performance to ensure high profitability. Furthermore, the key players adopt various strategies such as forming strategic alliances, partnerships, and mergers.


Notable Industry Developments:



  • November 2021: Antstream Arcade received USD 3.5 million in funding led by Atari Group. The company will leverage funding to expand the collection of games and businesses worldwide. The company aims to make the game available on more devices.

  • February 2021: In response to Apple Inc. limitations, Microsoft Corporation revealed that they had begun testing Xbox Cloud gaming over the web to improve user experience.


List of Key Players Covered in the Report:



  • Google Inc. (U.S.)

  • Microsoft Corporation (U.S.)

  • Amazon Inc. (U.S.)

  • Tencent (China)

  • Sony Corporation (Japan)

  • Electronic Arts, Inc. (U.S.)

  • NVIDIA Corporation (U.S.)

  • Broadmedia Corporation (Japan)

  • Intel Corporation (U.S.)

  • Blacknut (France)


Further Report Findings



  • North America is expected to dominate the global cloud gaming market share during the projected period due to the rising demand for online gaming solutions. Also, the availability of internet infrastructure is anticipated to bolster the regional market growth.

  • Based on device, the market is categorized into smartphone, laptop/tablets, personal computer, smart TV, and consoles. The smartphone segment is anticipated to grow at a higher CAGR during the forecast period due to consumers' increasing demand. Gaming laptops and PCs will witness a higher growth rate in the coming years.


Table of Segmentation


























































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Unit



Value (USD billion)



Growth Rate



CAGR of 46.9% from 2023 to 2030



Segmentation



By Device, Streaming Type, End-User, and Region



By Device




  • Smartphone

  • Consoles

  • Laptop/Tablets

  • Smart TV

  • Personal Computer



By Streaming Type




  • Video Streaming

  • File Streaming



By End-User




  • Casual Gamers

  • Avid Gamers

  • Hardcore Gamers



By Region




  • North America (By Device, By Streaming Type, By End-User, and By Country)

    • U.S. (By End-User)

    • Canada (By End-User)



  • Europe (By Device, By Streaming Type, By End-User, and By Country)

    • U.K. (By End-User)

    • Germany (By End-User)

    • France (By End-User)

    • Rest of Europe





  • Asia Pacific (By Device, By Streaming Type, By End-User, and By Country)


    • China (By End-User)

    • Japan (By End-User)

    • India (By End-User)

    • Southeast Asia (By End-User)

    • Rest of Asia Pacific




  • Middle East & Africa (By Device, By Streaming Type, By End-User, and By Country)

    • GCC (By End-User)

    • South Africa (By End-User)

    • Rest of Middle East & Africa



  • Latin America (By Device, By Streaming Type, By End-User, and By Country)

    • Brazil (By End-User)

    • Mexico (By End-User)

    • Rest of Latin America




Cloud Gaming Market
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  • 2022
  • 2019-2021
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