The Covid-19 pandemic has impacted the lives of billions like never before. Due to globally imposed restrictions on movement, the masses had to look for indoor avenues to quench their appetite for entertainment.
In this unprecedented situation, Cloud Gaming emerged as one of the biggest beneficiaries of the post pandemic world. This sub-domain of cloud computing is all set to cross the US $1 BN revenue milestone in the year 2021, a first in history.
That is not all, industry estimates on the growth of cloud gaming are that by the year 2027, cloud gaming could become a US $7 Billion industry in terms of revenues. This translates into a Compound Annual Growth Rate (CAGR) of over 47%, year on year (YoY).
There are multiple factors that are fuelling this rapid growth of the cloud gaming industry. Firstly, some of the world’s top names in gaming consoles and game development are all ready to make this transition to the realm of the Cloud.
End users are finding cloud gaming as a great value proposition, as they no longer have to invest in costly gaming PCs or consoles. Instead, some of the world’s best games will now be streamed over the Cloud, against a subscription based pricing model.
This in turn gives cloud gamers the opportunity to enjoy a wide range of games over the Cloud. Then, the Cloud is also proving a great platform for multi-player games, which offer a very immersive and inclusive entertainment experience to game lovers.
Another great advantage of cloud gaming is that gamers are free to us their PCs, Smartphones, Tablets or Consoles for enjoying their favorite game over the Cloud. The cloud also presents game developers with a readily scalable platform for making games.
Lastly, the rapid adoption and advancements in Virtual Reality (VR) and Augmented Reality (AR) are taking the cloud gaming experience to a whole new level. Based on these trends, we don’t expect cloud gaming to be slowing down any soon.