cloud gaming market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the cloud gaming market by region.
The global cloud gaming market is projected to register a CAGR of 24.6% and responsible for a market value of 3,806.52 million in the year 2023
Cloud Gaming Market Research Report – Global Forecast till 2023
Global Cloud Gaming Market Research Report: by Type (Video Streaming, File Streaming), Gaming System (G-Cluster, PlayStation, Stream My Game, Steam in Home Streaming, Remote Play, Others), Deployment (Public Cloud, Hybrid Cloud, Private Cloud), End User (Casual Gamers, Serious Gamers and Social Gamers) and by Region (North America, Europe, Asia Pacific, Middle East & Africa and South America) – Forecast till 2023
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According to Statista, as of 2022 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2030. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
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Cloud gaming, also called on-demand gaming, removes the requirement for any particular hardware to play games. Rising understanding of high-speed internet, escalating acceptance of smart devices, improving application of gaming as a service, and digital transformation in the media & entertainment industry are a few of the factors pushing the growth of the market. Due to the innovations in mobile technology and high Internet access, Digital transformation has influenced the media and entertainment industry substantially. Earlier, newspapers, magazines, and radios were the main method of supply of information; though, with digitization, information is mainly spread via social media platforms, television, and the Internet. Digitalization of information has allowed end users to store, access, and share data across several platforms, across the globe. Cloud gaming allows distant matter storage in a related environment, thereby cutting the storage concerns as well as improving the availability and touch of the content. Furthermore, the cloud improves in reorganization content on several smart devices, further enhancing content delivery through all mediums. Cloud gaming provides users with a number of advantages, such as faster speed, scalability, better user insights; it also keeps the user regularly updated.
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The cloud gaming market has been studied and fragmented on different grounds, such as by type, gaming system, deployment, end user, and region. By type, the cloud gaming market has been divided into 2 parts, i.e, video streaming and file streaming. The video streaming segment responsible for the greater market share in the year 2018 with a market value of 853.87 while the file streaming part is anticipated to register the higher CAGR of 28.11% during the forecast period. The private cloud which is a part of deployment is responsible for a market value of USD 544.76 million in the year 2018.The steam in-home streaming segment is a part of gaming System segment and is responsible for the major market share in the year 2018 while the StreamMyGame which is also a segment of gaming system, made a revenue of USD 264.38 million in the year 2018 and is anticipated to register a 21.25 % CAGR. The social gamers segment which is divided on the basis of end user accounted for the major market share in 2018, and the serious gamers segment expected to register the highest CAGR of 28.17% during the forecast period.
Cloud Gaming Market has been fragmented by type, by gaming system, by deployment, by end user and by region. On the basis of type, the cloud gaming market is divided into Video Streaming and File Streaming. Based on gaming System the cloud gaming market is segmented into G-Cluster, Steam In-Home Streaming, Remote Play, StreamMyGame, PlayStation, and Others. On the basis of deployment, the cloud gaming market is divided into Public Cloud, Private Cloud, and Hybrid Cloud. Based on end-user the cloud gaming market is segmented into Casual Gamers, Serious Gamers, and Social Gamers.
Regional analysis for the study of the global cloud gaming market has been made by segmenting the Cloud Gaming Market into different regions Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America is expected to be the major market for cloud gaming and is expected to remain major during the forecast period. The rapid growth of cloud computing and the increasing presence of professional gamers are expected to fuel the market growth during the assessment period. Furthermore, increased government investments in cloud computing and related technologies, growing adoption of smartphones, and increasing penetration of high-speed Internet are some of the other factors responsible for the growth of the market.
Sony Corporation (Japan), PlayGiga (Spain), Ltd (China), Microsoft Corporation (US), Cirrascale Corporation (US), Google, LLC (US), Ubitus Inc. (US), Game Fly (US), Playkey (US), Tsinghua Tongfang Co., Zynga, Inc. (US), Nvidia Corporation (US), and Hatch Entertainment Ltd (Finland) are some of the prominent players of the Cloud Gaming Market.
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What is the goal of the report?
The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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