Testing Inspection and Certification Market Leading Growth Drivers

Posted by Sakshi Mishra on February 22nd, 2021

Top Impacting Factors

The worldwide cloud gaming market is on track to create higher sales of the services with the advent of 5G technology. This technology has marked a new beginning in the connectivity landscape and brought a considerable fundamental shift in the gaming industry. MRFR finds that countries around the world are investing heavily in 5G technology to gain broader microeconomic advantages. Countries such as the U.S., China, South Korea, and Japan have made significant strides toward bolstering the 5G infrastructure. The 5G technology is a next-generation wireless technology that can facilitate faster data transmission speeds. As the cloud gaming platform requires high transmission speeds of 10 Mbps, the employment of the 5G infrastructure serves as a critical enabling factor, thus, allowing companies to launch advanced platforms of gaming globally. These factors have strongly affected the growth mechanism of the cloud gaming market, resulting in high growth in recent years.

The 5G technology has also effectively dealt with various latency issues, offering users a seamless gaming experience as well as promoting the usage of cloud gaming platforms. Early reports show that some cloud gaming platforms have dropped since launch. This may be linked to the technical aspects of cloud gaming. In the case of point, Stadia struggled with a steady flow of technical scale since its launch, while GeForce Now had licensing issues with publishers. But, after a while, cloud gaming’s worldwide success was noticed with the availability and adoption of 5G networks. The deployment of 5G became the reason behind the cloud gaming market’s growth and reflected high revenue scenarios all over the world.

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Regional Framework

The Asia Pacific cloud gaming market is predicted to expand at a CAGR of 46% and more from 2019 to 2025 owing to the rising number of 5G infrastructure development initiatives in the region. In the case of point, the significant south Korea-based telecom providers, LG Uplus, Korea Telecom, and S.K. Telecom, launched 5G mobile networks nationwide in April 2019. The expanding adoption of Smartphones & gaming consoles and frequently swelling online population have created numerous opportunities to stimulate the size of the market. In fact, the cost-effective nature of cloud gaming platforms is encouraging its usage across various new customer classes.

Europe recorded over 34% share in 2018 owing to the existence of a large number of gaming enthusiasts and high penetration of gaming consoles such as PlayStation and Xbox. The companies functioning in the landscape are introducing their product offerings in countries of the UK, France, Germany, and the Netherlands concerning the incidence of robust and high-speed connectivity architecture in the region.

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Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

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Sakshi Mishra

About the Author

Sakshi Mishra
Joined: September 30th, 2020
Articles Posted: 512

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