Cloud gaming market growth will reach 13.58 billion dollars by 2028!
The IMARC Group recently published a report which provides an in-depth market analysis. This report featured insights into the worldwide cloud gaming market, regional analysis, competitors’ analysis, and current market developments. IMARC Group is a market research company that provides management strategy and global market research. Stay tuned with RivalArium for an overview of the critical findings of this study.
Gist of Global Cloud Gaming Report
The global cloud gaming industry has been valued at 1.28 billion dollars. According to IMARC Group, this market will rise to 13.58 billion dollars by 2028, with a CAGR of 47.5% from 2023 to 2028.
Let’s see what cloud gaming is!
Cloud gaming is based on clouds that allow you to stream games directly to your PC, smartphone, or other device. This will be accomplished by a remote link with a third-party organization with the software on which the games are saved. Cloud gaming provides users with an online gameplay experience without downloading or purchasing games. Furthermore, cloud gaming gives an integrated gaming experience on all smart devices and a smooth and direct gameplay experience for users across multiple devices. If you are weary of sitting in front of your PC and playing your game, you can continue it on your smartphone while sitting on the couch in the living room.
Global Cloud Gaming Market Trends
The emergence of this wireless next-generation technology facilitates quicker data transmission, essentially driving the cloud gaming market. Furthermore, the elimination of the need to store physical copies of the software and the reduction in gaming costs are driving factors in the growth of this market. Furthermore, growing mobile gaming audiences, improved connectivity, and easy access to games play crucial roles in the market’s growth.
Furthermore, the reduced requirement for keeping data and its ease of access will significantly impact the global cloud gaming market. On the one hand, the ability to play games without the need to invest in and upgrade costly hardware is a driving force behind the expansion of this industry. On the other hand, the fact that there is no need to download and install games, as well as the fact that it works on all operating systems ranging from Linux, Android, and Mac to iOS, Chrome OS, and so on, will fuel the market’s growth throughout the forecast period.
Top 15 Companies in the Cloud Gaming Industry in 2023
IMARC Group introduced the Top 15 companies in the cloud gaming industry worldwide and cloud gaming market competitors in 2023:
· Utomik B.V.
· Nvidia Corporation (NASDAQ: NVDA)
· Numecent Holdings Ltd.
· RemoteMyApp SP ZOO (Vortex) (OTCMKTS: VTXB)
· Parsec Cloud Inc.
· LiquidSky Software Inc.
· Simplay Gaming Ltd.
· Ubitus Inc.
· Microsoft Corporation (NASDAQ: MSFT)
· Sony (NYSE: SONY)
· Amazon web services (NASDAQ: AMZN)
· Google (NASDAQ: GOOGL)
· IBM Corporation (NYSE: IBM)
· Samsung Electronics (KRX: 005930)
· CiiNow, Inc.
Resource: Digital Journal