Global Cloud Gaming Goes From Boom To Bigger Boom
The expanding global cloud gaming market shows no signs of slowing down, with a new report revealing it was valued at around US$432 million in 2020 and is expected to reach in the vicinity of US$3256.7 million by 2026, at a compound annual growth rate (CAGR) of around 43.2 per cent.
The report, from Research And Markets, the world’s largest market research store, suggests a lot of this massive surge will, of course, be due to the rise in devices and audience, but also ongoing improvements in graphic design and the resulting realism in images attracting more users all around the globe.
The public cloud segment is probably going to hit a CAGR of nearly 29.3 per cent through the forecast period, and will contribute a major market revenue share from 2019 to 2027. The segment’s high reliability and reduced maintenance expenses are cited as reasons behind this growth.
File streaming is also set to boom in that period, hitting a CAGR of nearly 31.8 per cent thanks to a good content delivery network (CDN) for small data package distribution, compared to video streaming.
Some of the companies the report focusses on in relation to the boom as key market participants include Intel, NVIDIA, Google, Apple and Sony, among others.
The continuing growth of the internet and the rise in storage capacity will also play prime roles, along with the increase in computer processor power – something we see evidence of at ChannelNews continuously.
The imminent explosion in VR and AR tech will also see the sector expand exponentially.
It is forecast that the north US will continue to dominate overall regional market growth, due to their easy access to high-speed internet service and generally large penetration of equipment in the region.