As time has passed since the emergence of cloud gaming technology, it is anticipated that this market will reach records in revenue and user count. Stay tuned with Arium to review the latest predictions.
According to Statista, the cloud gaming market’s revenue 2018 was 580 million dollars, including subscriptions to cloud gaming platforms and in-game purchases. Two years later, in 2021, this amount had increased by 43% yearly to more than a billion dollars, with a market valuation of 1.67 billion dollars. The figure increased again in 2022, reaching 2.6 billion dollars.
Cloud Gaming Market to Hit a High Record in 2023!
According to the figures, cloud gaming will significantly increase in 2023. Furthermore, it is estimated that gamers would spend $4.34 billion on cloud gaming, a 62.5% increase over the previous year. Statista predicts the market will grow at a 44.1% CAGR throughout the next four years, reaching 18.7 billion USD in 2027. According to Safe Betting Sites, global cloud gaming revenue from services such as Xbox Game Pass and PlayStation Now is predicted to climb 62% by 2023, reaching 4.3 billion dollars (4 billion Euros).
The United States Is the Leading Seller in the Global Cloud Gaming Market!
The United States has the most significant revenue in cloud gaming globally. According to Statista, the cloud gaming market will expand by 1.2 billion dollars, accounting for 28% of the global market. China is expected to be the second largest market, with revenue that is 25% less than that of the United States, or almost 900 million dollars. Following that, Japan, the UK, and Germany are expected to earn 364.7, 198.3, and 179.8 million dollars, respectively.
The Number of Cloud Gaming Users Will Reach a High Record in 2023!
Along with significant revenue, the cloud gaming market will grow to approximately 100 million users annually. Cloud gaming services were used by 182.3 million people worldwide in 2022. This amount was higher than the previous year’s 102.6 million users. This figure is predicted to rise to 295 million by 2023. Finally, according to predictions, this sector will have 395 million users worldwide by the end of 2024.
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