A new study has been released by Newzoo on cloud gaming, with the report stating that the market will most likely generate over half a billion in revenue ($585 million to be precise) by the end of 2020.
Two-thirds of the revenue will come from North America and Europe, with both generating 39% and 29% of that revenue. This is a massive jump from 2019, where only $170 million in revenue was made, and if the prediction holds true this will nearly be a threefold increase in revenue.
2020 isn't going to be an outlier either in vastly increasing revenues, with 2023 reaching around $4.8 billion in revenue, and that even more growth is to be expected in the years to come. Microsoft's Project xCloud, now simply called Game Streaming, is to be part of the reason why this will occur, as Newzoo cited this as one of the reasons why the market will continue to grow and attract new customers. With only a few days until the official launch of Game Streaming more phone users will also be able to join in streaming games to their phone.
Other companies are getting in on the action too, with Ubisoft signing a deal with Parsec, a cloud gaming provider, and other companies are starting their own cloud gaming solutions, which includes NetEase, Tencent, and Facebook.
For more information on this growing story, stay tuned to TechRaptor for more details.
Cloud Gaming is the future whether we like it or not. It's too convenient not to be, and it's only a matter of time until cloud gaming starts to overshadow traditional gaming the same way that digital media overshadowed physical media. It's the next step, and while it's a big step it's also something that can (and will) be solved eventually.
What do you think of this story? Are you gaming via the cloud? Do you think you will be in the future? Did you ever try OnLive? Let us know in the comments!