The role of Cloud Computing in our daily lives is constantly on the rise. Not long ago, the concept of movie streaming services over the cloud was completely new. By now, Netflix, which is cloud based video streaming service, is a household name.
Now we are observing a similar trend in the domain of cloud gaming. Traditionally, high end gaming has always been prohibitively expensive. It requires investing in high spec PCs, which otherwise have a very short life span due to planned obsolescence.
However, all this is changing with the advent of cloud gaming. This concept revolves around steaming high end games through powerful cloud servers to gamers over a network. By doing so, gamers won’t have to buy high spec PCs to enjoy the best games out there.
The factor that has really sped up the development of cloud gaming is entry of big cloud players, in addition to already well established gaming platforms. The cloud gaming offerings of various platforms do vary, but you have decent choice now.
Some cloud gaming providers offer you complete access to a wide assortment of games, in exchange for a fixed monthly subscription. A few providers of cloud gaming may charge you on a piece meal basis for each game you enjoy that’s hosted over the cloud.
Presently, it is estimated that nearly 2.8 billion people play video games. It is expected that by the year 2023, this figure may surpass the 3 billion mark, which represents a vast market. In 2021, the revenue from video games is expected to touch US $189 BN.
It is projected that cloud gaming revenues will surpass the US $1 BN milestone in 2021, for the first time ever. It is estimated that by the year 2027, cloud gaming revenues will exceed the US $7 BN mark. This translates into a Compound Annual Growth Rate (CAGR) of 48%.
With gaming and cloud giants like Sony, Nintendo, Amazon and Microsoft entering the cloud gaming arena with their own gameplay and development platforms, the above projected growth rate of cloud gaming seems quite attainable.