Newzoo: the cloud streaming game market will grow quadruple in 2024
According to a recent research report by game market data analysis company Newzoo, a total of 21.7 million cloud streaming game service users will contribute $1.5 billion in revenue in 2021, and it is expected that the revenue of the cloud streaming game industry will increase fourfold in 2024, reaching a scale of US$6.3 billion, and the number of users will also expand to 58.6 million.
Since it is not limited by platforms, hardware specifications, etc., Newzoo also expects that cloud streaming games will attract more users to join. At the same time, more players will join the competition in this market, and even attract more players who were not originally developed in the game market to join. For example, Netflix has already entered the mobile game market. Although it is still played through the App Store or Google Play Store, it may further connect to the cloud streaming game form in the future, so that users can have a more convenient playing experience.
At present, companies including Microsoft, Sony, Amazon, Tencent, NetEase, NVIDIA, etc. have already deployed cloud streaming game services, and although Google has also announced that it will enter this market with Stadia services, however, the difficulty of self-production of content is still high, and finally, Google chose to abolish its own game content team and only maintains technology supply in cooperation with external companies. As for Ubitus, which has already deployed in the cloud streaming game market quite early, it has locked in the commercial market from the beginning and cooperated with content companies to develop.