On September 15th, Stratview Research launched a report on the cloud gaming industry. According to this study, the cloud gaming market is expected to be worth $10.5 billion by 2027, meaning the industry will register a compound annual growth rate (CAGR) of 29.1% from 2022 to 2027.
“The year 2021, was an annus mirabilis for cloud gaming with a surge in the number of internet users and consumer spending, which has been increasing year on year,” the report reads. “Furthermore, expected growth in 5G infrastructure is likely to drive the demand for the cloud gaming market by reducing latency issues when streaming video games. The long-term market outlook seems favorable, with ample growth opportunities across regions. Also, the ongoing shift from consoles to cloud-based gaming will continue to create ample growth opportunities for the market stakeholders.”
Stratview Research was able to break down the report into segments. Smart TVs appear to be one of the leading devices in the cloud gaming market. Puzzle and social games appear to be the market’s most popular genre. Also, it seems that the market is dominated by casual gamers.
The Asia-Pacific part of the world holds the largest share of the global cloud gaming market. Moreover, this region will witness healthy growth over the next few years.
(All information was provided by GlobeNewswire and Stratview Research)
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