Research & Markets recently released a new report. In this piece, the organization forecasted the growth of the global cloud gaming market between 2021 and 2026.
“The rise in digitalization, increasing world online gaming competitions, an upsurge of mobile games, and the introduction of new technologies like 5G are major factors promoting the increase of the cloud gaming market. Cloud gaming enables the reduction of data storage and edge computing. Moreover, fast speed, OTT gaming services, continuous updating, and education or learning games have escalated cloud gaming. However, bandwidth issues in developing countries are hindering the market growth,” the report reads. “The increasing adoption of cloud technology in developing countries is anticipated to create new opportunities in the market.”
This report showed that the global cloud gaming market was valued at $2.3 billion in 2020. The study also showed that the global cloud gaming market will be worth $4.98 billion by 2025, registering a CAGR of 16.7% during this period.
(All information was provided by Yahoo! Finance)