As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years
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.
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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. 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 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.
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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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