A new Newzoo study has shown the dynamics of the cloud gaming market. It is assumed that by the end of this year, revenue from such services will reach half a billion dollars. At the same time, this area still has a lot of problems that companies have yet to solve.General data and forecasts
in 2019, revenue from cloud gaming services in the world amounted to $170 million.
- Since then, the market has been growing rapidly and continues to develop actively;according to Newzoo forecasts, by the end of 2020, this market will generate revenue of $584.7 million;
- two-thirds of the amount will fall on Western countries (39% on North America and 29% on Europe);
- analysts also believe that by 2023, the market’s revenue will reach $4.8 billion and continue to grow at the same rapid pace.
- Revenue of the cloud gaming market
Ecosystem problems
Newzoo notes that now cloud gaming services are far from becoming “Netflix for Games” — both in terms of business models and user convenience;
- many gamers still believe that the quality of such services leaves much to be desired.
- Representatives of Antstream, which specializes in streaming arcade and retro games, note: “Debunking this preconceived opinion is one of our main problems”;Polystream, in a conversation with Newzoo, stated that cloud gaming services should provide players with a “completely new experience” and use all the advantages of such technologies.
- Key growth factors
The COVID-19 pandemic has had an impact on the entire video game industry, and many companies have shown record revenues.
- The same applies to cloud gaming, which allows people to play new games without buying expensive PCs.;adding the xCloud cloud service to the Ultimate Xbox Game Pass subscription.
- Thus, Microsoft attracts additional attention to its service;a growing number of new services from smaller companies, especially in emerging markets.
- Also on the topic:
- Apple: Cloud games won’t appear on iOSUbisoft may launch a Cloud gaming platform
- The cloud gaming market will reach a turnover of $56.6 billion by 2027
- Is there any news?
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