Cloud Gaming Market Had the Largest Revenue Share in the APAC Region

The cloud gaming market will grow at a considerable compound annual growth rate of 42.8% by the end of this decade to reach a figure of USD 111,344.1 million by 2030.

The factors such as increasing popularity of cloud gaming, together with the introduction of best-in-class, cross-platform gameplays will help power the industry all over the world.

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Furthermore, the increasing use of the internet all over the world, along with the easy access to cloud-based games, are contributing to the increasing requirement for them by the people.

Also, 5G offers lower latency and higher bandwidths, letting gamers to stream XR games without any sort of hindrance.

Additionally, the growing adoption of smartphones is expected to augment the market growth globally.

On the basis of device, smartphones are the highest revenue generator, accounting for about USD 1,645.6 million in 2021, which will grow at a rate of about 43% in the near future.

This is because of the steady increase in mobile gaming in the last 5 years for its cost-effectiveness. Furthermore, it is favored as it is more expensive to unceasingly upgrade PCs and consoles to support the performance of the game.

Video streaming led the industry with over 62%. Video streaming is popular as it comes good in removing the requirement for further hardware devices.

Also, video streaming services allow users to play games from any platform, with the help of the internet, with decreased latency. Vendors have augmented their emphasis on evolving platforms providing a better gaming experience, thus driving the global market.

APAC was the leader of the cloud gaming market dominated the market, with a share of more than 49%, in the past. The growing use of smartphones and increasing requirement for entertainment will power the growth of the regional industry. This is complemented by the introduction of novel gaming genres, mounting income, and growing young population.

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India, China and Japan are amongst the key contributors of the industry. The gaming industry of all these nations is on the way of growth as a result of the fast development of technologies and existence of more than a few vital gaming companies, for example Sony, Konami, and Nintendo, which are known by the people all over the region for decades.

There is an enormous popularity of cloud gaming all over the world, and it became even more popular during the time of the pandemic, when the lockdowns were imposed. It is because of this popularity, the demand for cloud gaming is on the rise, and this trend will continue in the years to come as well.

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