Cloud Gaming Market Size To Reach $20.94 Billion By 2030

Cloud Gaming Market Growth & Trends

The global cloud gaming market size is estimated to reach USD 20.93 billion by 2030, growing at a CAGR of 45.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. The trend of cloud-based gaming, including online game progress saving and file streaming, is expected to drive market growth.

Furthermore, cloud gaming is anticipated to attract developers and gamers because of its benefits of unlimited data storage and reduced stress on local device storage. Moreover, the advent of 5G technology and affordable access to various cloud-based games will likely aid in the expansion of the market. Companies are expected to increasingly offer cloud gaming features to users as a result of the availability of high-speed internet at low latency.

For instance, Microsoft Corporation’s Xbox Cloud Gaming service uses high-speed internet to offer an immersive gaming experience without any requirement of expensive hardware. Furthermore, the onset of COVID-19 has enhanced the growth of the market as gamers switched to services that offered cloud gaming. This growth was also enhanced due to limited outdoor activities and social interactions during the government-issued lockdowns.

However, this surge in demand for gaming led to many cloud gaming services, such as Microsoft Corporation and Sony Group Corporation, encountering immense server loads due to high traffic during the peak of the pandemic. In addition, there was an increase in cloud-based gaming on smartphones during the pandemic due to popular multiplayer games such as Call of Duty and Player Unknown's Battlegrounds.

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Cloud Gaming Market Report Highlights

• By region, the Asia Pacific region accounted for the largest revenue share of more than 40% of the global market because of the high level of internet penetration in the region

• By type, the file streaming segment is anticipated to grow at the fastest CAGR of more than 45% over the forecast period due to the trend of partial download so that users can launch certain sections of a videogame before it fully downloads

• By device, the smartphones segment is expected to grow at the fastest CAGR of approximately 49% over the forecast period due to the growing penetration of budget smartphones and affordable mobile data plans

Cloud Gaming Market Segmentation

Grand View Research has segmented the global cloud gaming market based on type, device, gamer type, and region:

Cloud Gaming Type Outlook (Revenue, USD Million, 2018 - 2030)

• File Streaming

• Video Streaming

Cloud Gaming Device Outlook (Revenue, USD Million, 2018 - 2030)

• Smartphones

• Tablets

• Gaming Consoles

• PCs & Laptops

• Smart TVs

• Head-Mounted Displays

Cloud Gaming Gamer Type Outlook (Revenue, USD Million, 2018 - 2030)

• Casual Gamers

• Avid Gamers

• Lifestyle Gamers

Cloud Gaming Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players in the Cloud Gaming Market

• Amazon.com Inc.

• Apple Inc.

• Electronic Arts, Inc.

• Google LLC

• Intel Corporation

• International Business Machines Corporation (IBM)

• Microsoft Corporation

• NVIDIA Corporation

• Sony Interactive Entertainment

• Ubitus Inc.

• Tencent Holdings Ltd.