Global Gaming Market – The Influential Impact of Cloud Gaming

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Global Gaming Market The Influential Impact of
Cloud Gaming Dating back to as early as the
1950s, computer scientists began revolutionizing
the era of gaming by developing simple
simulations, such as Tic-Tac-Toe (1951),
Stracheys Draughts Program (1951), Tennis for
Two (1958), Nimrod (1951), and others. As systems
continued to become more complex and intricate,
games have become more in-depth and highly
sensitive to player capabilities, rapidly paving
the way for the evolution of a billion-dollar
industry. According to Inkwood Research, the
global gaming market is projected to grow with a
CAGR of 11.60 between 2023 to 2032, reaching a
staggering 1065.12 billion by 2032. Global
Gaming Market Game-Changing Role of Cloud
Technology The 1990s broke new ground for
noteworthy innovations in gaming, including
the transition of graphics from raster to 3D
this gave rise to popular genres, such as
first-person shooter (FPS), real- time strategy,
and massively multiplayer online (MMO)
games. With the year 2024 expected to see 3.32
billion gamers globally, present-day gaming
enthusiasts strive to utilize the best technology
and devices in order to compete at the highest
levels. However, problems associated with
hardware compatibility can be a major
obstacle for game players and developers
alike. Since operating systems and hardware parts
are continually changing, developers must
regularly update their products to ensure
compatibility with newer hardware and
software releases, thus further hindering
compatibility. In this regard, the gaming market
is being forayed by cloud technology, enabling
users to stream high-end games on portable
devices with faster network connectivity.
Cloud gaming has also minimized the constant
need for regular hardware upgrades, enabling
gamers across the globe to play on their existing
and future devices. As per Inkwood Research, the
hardware segment, under the component category,
captured the highest revenue share of 65.03 in
2022. With cloud gaming expected to break down
the existing barriers of platform and costs in
the market, cloud gaming solutions are also set
to proliferate in emerging countries, where
economic as well as low bandwidth barriers
have long constrained easy access to
gaming. Since consumers from developing
regions are more inclined towards the
free-to-play gaming model, this factor also
creates favorable prospects for players to
showcase their products in the market. For
example, Nexon (Japan), a leading online game
provider, attracts a vast and loyal player base
globally owing to the companys focus on
free-to-play games. Maximizing Revenues with
Cloud Gaming A Smartphone-Driven Era In the
global gaming market, cloud gaming or
gaming as a service (GaaS) plays a pivotal
role in fueling the demand for online services,
wherein games are run on servers owned by gaming
service providers. Moreover, with faster 4G and
5G internet services, consumers are highly
persuaded by companies offering GaaS across
all devices. Accordingly, a lucrative
opportunity for vendors operating in the
cloud gaming sector is to target smartphone
gamers, who constitute a sizeable
portion of the gaming audience.
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• Based on this, Inkwood Researchs analysis
  suggests that the mobile gaming segment is
  projected to lead and dominate the device type
  category during the forecast period of 2023 to
  2032.
• Since mobile gaming users preference mainly
  entails the convenience of playing console
  and PC games on their mobile devices easily,
  cloud gaming platforms, like PlayStation, Amazon
  Luna, and Google Stadia, are already turning a
  profit in the market by increasing their
  accessibility to console and PC gamers.
• In a smartphone-driven era, the gaming market is
  witnessing a notable surge in demand for mobile-
  based apps, especially with the advent of
  cloud gaming. Accordingly, several key
  players are capitalizing on this trend, aiming
  to maximize their revenues in the mobile gaming
  space.
• For example
• Zynga (United States) Zynga, acquired by
  Take-Two Interactive, is a leading social game
  developer and publisher engaged in the
  development of a wide range of games,
  particularly on mobile devices. Some of the
  top-performing titles offered by the company are
  FarmVille, Zynga Poker, Words with Friends,
  CSR Racing, Merge Dragons, Empires
  Puzzles, and others. Zyngas primary focus
  is designing free-to-play social games,
  available on various platforms, including
  Facebook, iOS, and Android devices. Take-Two
  Interactives mobile app revenue in April 2023
  was 108 million, including 60 million for iOS
  apps and 48 million for Android apps.
• Ubisoft (France) Ubisofts portfolio has
  successfully expanded beyond traditional gaming
  platforms, entailing services, such as ongoing
  content updates and multiplayer experiences, in
  addition to mobile gaming and virtual reality
  (VR). Given this versatility, Ubisoft has the
  potential to appeal to a broader audience,
  including smartphone users, and capitalize on
  rapidly emerging trends. The companys brand
  names include The Crew, Far Cry, Assassins
  Creed, For Honor, Just Dance, Prince of Persia,
  and others. Moreover, Ubisofts mobile app
  revenue in April 2023 was 2 million.
• Gameloft (France) The company is primarily
  engaged in creating games specifically for iOS,
  Android, and Java. It also develops games
  across digital devices, such as mobile
  phones, connected TVs, tablets, smartphones,
  etc. The total revenue of Gameloft mobile
  apps in April 2023 was 6 million, including 3
  million each for iOS and Android apps. Gamelofts
  Uno Friends, for example, is a mobile version
  of Uno, the classic card game, with multi- player
  modes as well as in-game rewards. The
  online mobile game also includes various
  customization options, such as avatars,
  backgrounds, and card layouts.
• Activision Blizzard (United States) The
  gaming firm creates and distributes
  interactive software products, entertainment
  material, and services for smartphones and other
  devices. The companys mobile games include Call
  of Duty, Diablo, Candy Crush, etc. In April 2023,
  Activision Blizzards total mobile app revenue
  equated to 161 million, including 74 million
  for Android apps and 87 million for iOS apps.
• Moreover, since 5G services are being
  launched in several countries, cloud gaming
  services are expected to accelerate at a
  staggering rate. This factor has greatly helped
  leverage mobile ubiquity

and faster connections in order to deliver
AAA-quality gaming to users. Accordingly,
game
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• publishers, platforms, and developers are also
  expected to witness higher profits with greater
  reach over the upcoming years.
• In addition to being in tune with current
  gaming trends and user consumption patterns,
  cloud gaming is also highly accessible. In
  essence, it has the potential to reach a wider
  number of potential consumers and incorporate
  various technological advancements, such as
  augmented reality (AR), virtual reality (VR),
  and 5G. Accordingly, as more sophisticated
  technologies and solutions continue to emerge,
  the global gaming market is set to witness
  remarkable growth during the forecast period.
• Frequently Asked Questions (FAQs)
• How has streaming and content creation influenced
  the global gaming market?
• A While content creators help shape consumer
  preferences and drive game sales, streaming
  platforms such as Twitch and YouTube play an
  essential role in providing novel avenues for
  game promotion, encouraging community engagement,
  and also offer a lucrative prospect for
  influencer marketing.
• What is the role of 5G in online gaming?
• A Compared to earlier generations of mobile
  networks, 5G technology provides significantly
  faster network speeds, resulting in better
  performance and lower latency for online gaming.