Cloud Gaming Market Set To Experience Revolutionary Growth Till 2030
Advancement in cloud gaming networks coupled with enhanced privacy creates a lucrative opportunity for the cloud gaming market growth
PORTLAND , PORTLAND, OR, UNITED STATE, September 7, 2022 /EINPresswire.com/ — With the rapid rise in mobile gaming in the last five years, smartphones are going to gain a significant amount of cloud gaming market size traction in the coming years. One of the perks of this technology is its cost-effectiveness. It is way too expensive to constantly upgrade the consoles and PCs to uphold the game performance.
It requires extra spending for the up-gradation of consoles and customization of PCs, but with cloud gaming, it requires either a laptop, a 5G device, or a smart TV. This has provided the feasibility to a new class of gamers, as it opens the possibility for more casual gaming for a fraction of the price.
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Covid-19 Scenario:
• Owing to lockdown restrictions implemented by governments of many countries, the time spent on playing video games increased by nearly 71%. This led to the growth of the cloud gaming market during the pandemic.
• According to the report by Reuters, the number of users for cloud gaming platforms raised to more than 932 million in 2020. This showed a significant rise in market growth.
In 2020, the global cloud gaming market share was dominated by smartphone and is expected to maintain its dominance in the upcoming years. With the rapid rise in mobile gaming in the last five years, smartphones are going to gain a significant amount of market traction in the coming years.
One of the perks of this technology is its cost-effectiveness. It is way too expensive to constantly upgrade the consoles and PCs to uphold the game performance.
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Within the market, HMD segment is estimated to emerge as fastest growing segment, there has been a significant increase in the investments toward the development of HMDs, and in the use of such devices in various applications worldwide. The investments in the HMD market have been huge, and investors have been keen to invest in companies that have proved the worth of their technologies and products in the last few years.
Post COVID-19, the size of the Global Face Mask Detection Market is estimated to be $244 million in 2020, and is projected to reach $21.54 billion by 2030.
The cloud gaming market has been benefitting positively from the COVID-19-induced restrictions and lockdowns. According to a report published by SAGE Journals, time spent on playing video games went up by more than 71% during the COVID-19 lockdowns.
This helped the global cloud gaming market to prosper during the period. Reuters reports that cloud gaming platforms had more than 932 million users in 2020, this number is expected to grow further in coming years and promises strong growth opportunities for the cloud gaming industry in the near future.
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Leading players of the global cloud gaming industry analyzed in the research include Blacknut, Amazon Luna, Microsoft Corporation, Google LLC, Shadow, NVIDIA Corporation, Ubitus K.K., Tencent, Sony Group Corporation, and Vortex (RemoteMyApp) Sp. z o. o.
Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the cloud gaming market size along with current trends and future estimations to elucidate imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the cloud gaming market share is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of cloud gaming market for the period 2020–2030 is provided to determine the cloud gaming market trends.
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