Global Data has just released their 2022 edition of their Video Games – Thematic Research report. The report gives an overview of the value chain, market size, growth forecasts and specialist gaming software vendors in the Video Games market, featuring CareGame as one of the strongest challengers.
The global gaming software market was worth $197 billion in 2021 states GlobalData, and will become a $470 billion industry by 2030. In this report, GlobalData presents what will be the key trends shaping the gaming industry of tomorrow.
Mobile gaming is one of the strongest pillars of the video game market today. In 2021, mobile gaming revenues accounted for nearly 60% of global revenues, generating $112Bn – more than PC and Console gaming combined – reported GlobalData!
According to Industry experts, the mobile gaming segment will continue to dominate the market over the next decade; with gamers in most countries turning to, or continuing to rely on their mobile phones as their platform of choice for video streaming, esports and cloud gaming.
“Cloud gaming – which involves hosting games in the cloud and streaming them to connected devices – will fundamentally change the video games industry over the next 10 years” says GlobalData, just as video and audio streaming have reshaped the music, film, and TV industries.
Global Data estimates that the cloud gaming segment will expand from nearly $2 billion in 2021 to more than $30 billion by 2030, and will be the fastest growing segment in the industry, growing at a CAGR of 39%.
Mobile-based cloud gaming in particular, is becoming a prominent trend in the consumer market.
“The popularity of mobile gaming will make smartphones the primary cloud gaming platform over the next three years” GlobalData concludes.
As a result, competition is already intensifying, drawing in tech giants, game publishers and telcos. The latter are taking a keen interest in mobile cloud gaming, partnering with cloud gaming providers to showcase their network capabilities and gain early traction in the market, but also to monetize the transformation of gaming via a more direct role. Several telcos have already launched their own-branded cloud gaming services thanks to white-label BtoB mobile cloud gaming providers such as CareGame.
Today’s gaming industry is in full transformation driven by themes like 5G, augmented reality (AR), virtual reality (VR), esports, the metaverse and cloud gaming of course! Read GlobalData’s full video games report to find out more about it, including exclusive insights about CareGame.