Newzoo: Cloud gaming market revenue to reach $1.4 billion in 2021
By the end of this year, the cloud gaming market will cross the billion dollar milestone for the first time. That’s what Newzoo analysts think. According to their estimates, for the whole of 2021, such services should earn about $ 1.4 billion.
What else did Newzoo tell you in her latest report:
- by 2023, the market turnover may exceed $5 billion. For comparison, last year revenue from cloud gaming services amounted to only $633 million. Analysts explain such rapid growth by the constant development of technology and infrastructure;
- it is expected that in 2021 the market of affordable service solutions for cloud games (in other words, support for services) will reach almost $200 million. The fact is that now the cloud ecosystem has become larger than ever before. New publishers, platforms and content services regularly appear on the market;
- another important growth driver for the market is that gaming companies are becoming more active in the field of cloud technologies. For example, Microsoft launched xCloud as part of Xbox Game Pass Ultimate, NVIDIA added more than 800 games to GeForce Now, and Facebook and Amazon launched their own services;
- According to Newzoo, by the end of 2021, 23.7 million people will use cloud gaming services. Despite the fact that analysts used to be pessimistic about this market, now they call it promising. “Simply put, cloud games are not going anywhere, and their importance and recognition will only grow,” Newzoo concludes.
