The Cloud Gaming Market is the new booming industry

More and more companies are investing in it, as 5G promises to roll out soon.

Yeah! We all are very much excited about the new 5G network which is yet to roll out globally. All the carriers and device makers are working relentlessly for fulfilling the demands of the upcoming 5G network. Also, it is not only the network providers or device makers facing the challenges, but the tech industry is also investing money on the gen-next connectivity, of course for the future benefit and one of the biggest one among them is the Cloud gaming platform.

All the biggest tech companies like Microsoft, Apple, and Google have already made their footprints on the Cloud Gaming Platform. The companies are here with the future predictions of earning more revenue from this industry. According to them, the super speed internet will support its gamers to gain the highest quality gaming practices on all the devices used by them, be it smartphones, mobile browsers, PCs or Tablets. Moreover, such experience will always make them purchase subscriptions, so that the games can be accessed and played from anywhere around the globe.

According to a market survey done by Statista, the revenue of this industry increased from $45 million dollars in 2017 to $66 million in 2018. By the end of 2023 such figure is projected to touch the sky by generating $450 million. More and more companies like Nvidia GeForce Now, PlayStation Now, have started offering cloud-based games apart from Google, Microsoft.

Even Amazon, who owns its own Cloud Platform- AWS (Amazon Web Services) is also working on its live-streaming apps called Twitch for playing games. The gaming companies are looking far more beyond than just leveraging their current infrastructure and balancing their cost and efficiencies. They are aiming to earn money through monthly subscriptions and in-app purchases.

Other companies like EA, Tencent and Walmart are also quietly working on cloud gaming service. Of course, they have long term future plans as the first 5G phone won’t be out before 2020 and it will take another two to three years to capture the market. Meanwhile, the cloud gaming industries are arranging libraries of games, for gamers to download games than just streaming them for playing.