GSMA Intelligence recently released a survey entitled “Cloud Gaming Market, 2021-2028”. In this report, it was revealed that the cloud gaming market will grow from $169.2 million in 2021 to $1.8613 billion by 2028. That means the market would register a compound annual growth rate of 40.9% during this forecast period.
“The COVID-19 pandemic has severely impacted supply chain units and manufacturing facilities of various industries across the globe,” the report reads. “This has further affected the smooth supply of numerous hardware devices, such as consoles, laptops, smartphones, personal computers, and smart TVs. But, lockdown measures and work-from-home measures by government bodies have surged the demand for cloud-based gaming and digital entertainment services. These factors are set to propel growth of the market amid the pandemic.”
The study broke up the market into three sections: hardcore gamers, avid gamers, and casual gamers. According to the research, avid gamers made up 35% of the cloud gaming market in 2020. Last year, the cloud gaming market was valued at $121.2 million.
(All information was provided by Globe Newswire)