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The global cloud gaming market size is projected to grow from USD 169.2 million in 2021 to USD 1,861.3 million in 2028. The rising adoption of high-end smartphones, 5G infrastructures, and cloud technology is set to affect the market positively. In October 2020, Ericsson, for instance, declared in a study that out of 106 service providers, 22 have announced the launch of mobile cloud gaming services. Fortune Business Insights™ presented this information in a published 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, 2021-2028.” The report further states that the market stood at USD 121.2 million in 2020. It is set to exhibit a CAGR of 40.9% in the forecast period between 2021-2028.
Microsoft Starts Testing xCloud via iOS, iPadOS, and PC Because of Apple’s Restrictions
In February 2021, Microsoft declared that it has started to test xCloud, its latest game streaming service on the web via a browser for PC, iPadOS, and iOS. It was unsuccessful in releasing the game on the App Store owing to Apple’s stringent restrictions. Therefore, the company decided to launch the service via Safari. It will enable players to resume their recently played titles and provide game recommendations.
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Rising Partnerships between Telecom & Game Companies to Aid Growth
Telecom providers and renowned cloud gaming manufacturers are nowadays participating in collaborations and partnerships to offer 5G gaming experience to users worldwide. SingTel and S K Telecom, for instance, joined hands in 2021 to develop 5G and multi-access edge computing (MEC) technologies to attract more gamers. Such initiatives by key companies are likely to drive the market growth in the upcoming years. However, the adoption of high-speed connectivity and bandwidth is lesser in developing nations, unlike developed ones. It may hinder the demand for such services.
Key Players Aim to Introduce Novel Gaming Platforms to Fulfil Unmet Needs of People
The market contains a large number of companies that are persistently striving to invest huge sums for the development of innovative and new games. People are currently demanding for high-quality streaming games owing to the implementation of nationwide lockdown measures backed by the COVID-19 pandemic. Hence, they are focusing more on unveiling new cloud type of gaming platforms.
Fortune Business Insights™ presents a list of renowned cloud gaming companies operating in the global market. They are:
A Noteworthy Industry Development-
Further Report Findings-
The global market can be segmented in this way:
Value (USD Million)
Devices; Streaming Type; End-user; and Geography
By Streaming Type