With Amazon’s recent announcement of its cloud gaming service, Luna, the race to the cloud is on in the gaming industry as consoles and digital downloads are destined to become a thing of the past. By 2024, the global cloud gaming user base is expected to reach 124.4 million, with an estimated global revenue of $14.93 billion – a nearly tenfold growth in as little as five years, according to Kagan, a media research division of S&P Global Market Intelligence.
Amazon is just the latest in a series of big players jumping into the market. Google launched Stadia in 2018, followed by Nvidia’s GeForce Now and Microsoft’s xCloud. As gigabit fiber connections and 5G infrastructure become mainstream, and as the industry consolidates, the category is poised for dramatic growth.
Source: Kagan, S&P Global Market Intelligence