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Report overview
The global TV and Cloud Gaming market was valued at US$ 4.9 billion in 2023 and is projected to reach US$ 17.5 billion by 2030, at a CAGR of 19.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
This report studies the TV and Cloud Gaming market, covering market size for segment by type (Video Streaming, File Streaming, etc.), by application (PC, Connected TV, etc.), by sales channel (Direct Channel, Distribution Channel), by player (Sony, GameFly (PlayCast), Nvidia, Ubitus, PlayGiga, etc.) and by region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).
The gaming industry has seen a significant transformation over the past decade, with TV and cloud gaming becoming central to this evolution. As of 2024, these platforms have not only redefined how games are played but also expanded the reach of gaming to a broader audience.
Market Penetration: Approximately 55% of households worldwide now have a smart TV capable of gaming, translating to around 1.4 billion units. This penetration is expected to grow as smart TVs become more affordable and accessible.
User Demographics: The average age of TV gamers is 34 years, with a near-equal gender split (52% male and 48% female). This indicates a broad appeal across different age groups and genders.
Usage Patterns: On average, TV gamers spend about 6 hours per week playing games on their televisions. This figure is higher among younger demographics, with gamers aged 18-24 spending around 9 hours per week.
Revenue Generation: In 2023, TV gaming contributed to $12 billion in revenue, with projections suggesting this could reach $20 billion by 2026. The revenue is primarily driven by in-game purchases, subscriptions, and advertising.
User Base: The global cloud gaming user base reached 150 million in 2023, up from 90 million in 2022. This rapid growth is fueled by the increasing availability of high-speed internet and the convenience of gaming on multiple devices without the need for high-end hardware.
Geographic Distribution: North America and Europe lead the market with 60% of the total cloud gaming user base. However, Asia-Pacific is the fastest-growing region, with a 40% year-over-year increase in users.
Engagement Levels: Cloud gamers are highly engaged, spending an average of 10 hours per week on gaming. Mobile devices are the most popular platform, followed by PCs and tablets.
Revenue Streams: Cloud gaming generated $4 billion in revenue in 2023, with forecasts predicting a rise to $8 billion by 2025. Subscription models, such as Xbox Game Pass and PlayStation Now, account for a significant portion of this revenue.
Consumer Satisfaction: According to a recent survey, 78% of cloud gamers expressed satisfaction with the gaming experience, citing ease of access and the ability to play high-quality games without expensive hardware as key benefits.
Integration with 5G: The rollout of 5G networks is expected to further boost the adoption of cloud gaming. The low latency and high-speed connectivity provided by 5G will enhance the gaming experience, making it more seamless and responsive.
Cross-Platform Play: The demand for cross-platform play is increasing, with 65% of gamers indicating a preference for games that allow interaction between different platforms. This trend is likely to push developers to create more cross-platform compatible games.
Virtual Reality (VR) and Augmented Reality (AR): VR and AR are expected to play a significant role in the future of TV and cloud gaming. The market for VR gaming is projected to grow at a CAGR of 30%, reaching $45 billion by 2027.
Environmental Impact: With an increased focus on sustainability, cloud gaming is seen as a greener alternative to traditional gaming. Cloud gaming services are exploring the use of renewable energy sources to power their data centers, reducing the carbon footprint associated with gaming.
This report provides detailed historical analysis of global market for TV and Cloud Gaming from 2018-2023, and provides extensive market forecasts from 2024-2032 by region/country and subsectors. It covers the sales/revenue/value, gross margin, historical growth and future perspectives in the TV and Cloud Gaming market.
Leading Players of TV and Cloud Gaming including:
