There are those who bet that we are facing the last generation of consoles. They say that in the future we will play via streaming, in the same way that we now consume content from Netflix or Spotify. And, although not everyone agrees with this forecast, the analysis of the reputed consulting firm Newzoosuggests that cloud gaming is experiencing its most notable growth spurt.
The specialists’ report says that cloud gaming platforms had 21.7 million paying users in 2021. These subscriptions generated revenue of about $1.5 billion that year, which translated into a growth of more than 100% in relation to 2020, where revenues reached 669 million dollars. In the coming years, they calculate, the sector will continue to grow remarkably.
Cloud gaming, increasingly relevant
According to Newzoo, global cloud gaming “has proven to be viable, paving the way for the market to enter a new stage of adoption and growth.” In this sense, they estimate that in 2024, paying users will almost triple, reaching 58.6 million, while revenue will quadruplerising to about $6.3 billion.
While cloud gaming numbers may pale in comparison to the huge overall gaming market that according to projections it would have moved more than 180,000 million dollars, it is a not insignificant growth. We must not forget that the streaming gaming sector began to take off in 2020, that is, relatively recently.
According to the consultancy, the cloud gaming sector has benefited from the shortage of computer components, such as video cards, and the difficulties to get new generation consoles. It has also been presented as an increasingly interesting alternative to play recent titles instantly, without having to depend on a device with powerful hardware.
Agreements between companies, for example Nvidia’s with Samsung and LG to bring GeForce Now to their new TV models, such as the growing range of titles available on Xbox Cloud Gaming and Sony’s revamped PlayStation Plus subscription service, have also could help maintain the current growth trend, according to Newzoo.
Finally, the report predicts that larger companies will buy smaller ones to strengthen their presence in the cloud and that companies from the entertainment world, such as Netflix, are likely to get involved in the cloud gaming universe. Some of them will be able to use Stadia technology, which will be part of Google Cloud with Immersive Stream for Games.
In Xataka | The cloud industry continues to grow: it already moves 155,000 million euros, 37% more than in 2020
Source: Xataka by www.xataka.com.
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