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Cloud Gaming Market size is set to grow by USD 1.49 billion from 2024-2028, Increased availability of high-speed internet boost the market, Technavio

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NEW YORK, June 7, 2024 /PRNewswire/ — The global cloud gaming market size is estimated to grow by USD 1.49 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.22%  during the forecast period. Increased availability of high-speed internet is driving market growth, with a trend towards growth in mobile cloud gaming. However, infrastructural and bandwidth challenge  poses a challenge. Key market players include Advanced Micro Devices Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., BLACKNUT, Cloudquest Pvt. Ltd., Crytek GmbH, Intel Corp., International Business Machines Corp., Loudplay, Microsoft Corp., Nintendo Co. Ltd., NVIDIA Corp., OVH Groupe SA, Paperspace Co., Samsung Electronics Co. Ltd., Sony Group Corp., Ubitus KK, and Unity Software Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Cloud Gaming Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.22%

Market growth 2024-2028

USD 1493 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.52

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 50%

Key countries

US, China, Germany, Japan, and South Korea

Key companies profiled

Advanced Micro Devices Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., BLACKNUT, Cloudquest Pvt. Ltd., Crytek GmbH, Intel Corp., International Business Machines Corp., Loudplay, Microsoft Corp., Nintendo Co. Ltd., NVIDIA Corp., OVH Groupe SA, Paperspace Co., Samsung Electronics Co. Ltd., Sony Group Corp., Ubitus KK, and Unity Software Inc.

Market Driver

The global mobile cloud gaming market is experiencing significant growth, projected to reach USD98 billion by 2024. This expansion is driven by the convenience of playing high-quality games on the go and the increasing power of mobile devices.

Major players like Google Stadia, Microsoft xCloud, and NVIDIA GeForce Now are leading this trend, offering flexible access to games without the need for heavy hardware. The market is becoming increasingly competitive, with both established companies and new startups entering the space, providing users with more options. By 2027, the number of mobile cloud gaming users is expected to reach 1.9 billion. 

The cloud gaming market is experiencing significant growth with technologies like 5G and VR/AR leading the way. Companies are investing in cloud gaming services to provide consumers with high-quality gaming experiences without the need for expensive hardware. Cloud gaming consoles and portable laptops are popular choices for gamers, offering convenience and accessibility.

The trend towards remote work and learning is also driving demand for cloud gaming solutions. Games like Minecraft, Fortnite, and Rocket League are among the most popular choices for cloud gaming. The market is expected to continue growing as technology advances and consumer preferences shift towards more accessible and convenient gaming options. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

•         Cloud gaming’s growth is hindered by bandwidth requirements and limited Internet access in certain regions. High-speed Internet has improved accessibility, but latency remains a significant challenge. Some providers have made strides in reducing latency, but it continues to impact the global cloud gaming market. Reliable high-speed Internet infrastructure is essential for seamless cloud gaming experiences.

•         The cloud gaming market is experiencing significant growth, with games, tech companies, and video streaming platforms investing heavily in this sector. However, challenges persist. One major issue is the requirement for high-speed internet connections to ensure smooth gameplay. Another challenge is the need for advanced technology to provide realistic graphics and low latency.

•         Additionally, security concerns, such as data privacy and protection, must be addressed. Furthermore, monetization strategies, including subscription models and in-game purchases, need to be effective to generate revenue. Lastly, the market is becoming increasingly competitive, with new players constantly entering the scene. Overall, these challenges require innovative solutions to ensure the continued growth and success of the cloud gaming market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

Application 1.1 Video streaming1.2 File streamingDevice 2.1 Gaming consoles2.2 Computing devices2.3 Smart TVs2.4 Mobile devicesGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Video streaming-  The cloud gaming market is experiencing significant growth as more businesses adopt this technology for remote work and entertainment. It allows users to access high-performance games on any device with an internet connection. Companies like Google Stadia, Microsoft xCloud, and NVIDIA GeForce Now are leading this market, providing affordable and convenient gaming solutions. This trend is expected to continue as the demand for flexible and cost-effective gaming options increases.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Cloud Gaming Market is experiencing significant growth due to the convergence of 5G technology and cloud technology. This advancement is revolutionizing the gaming sector by catering to the increasing player demand for top-tier games on portable devices, laptops, tablets, and even Smart TVs. The gaming experience is no longer tethered to specific hardware, such as gaming consoles, as remote servers handle the processing and technical complexities.

Startups and established players in the Gaming Industry are investing in Cloud Gaming and Game Design to meet the escalating interest in mobile games and Virtual Reality (VR). The integration of Cloud gaming with VR offers a new dimension to video games, enabling users to immerse themselves in a more interactive and realistic gaming environment. The future of gaming lies in the seamless integration of Cloud technology, 5G, and gaming hardware, providing unparalleled internet usage capabilities and enhancing the overall gaming experience.

Market Research Overview

The Cloud Gaming market refers to the delivery of computing power, applications, and storage over the internet, enabling users to play high-performance games on various devices without the need for local hardware. This technology is revolutionizing the gaming industry by providing access to games on demand, reducing latency, and enabling seamless multiplayer experiences.

The Cloud Gaming market is expected to grow significantly due to increasing internet penetration, advancements in technology, and the rising demand for gaming on-the-go. Consumers can enjoy a wide range of games, including AAA titles, indie games, and classic titles, all streamed directly from the cloud. Additionally, Cloud Gaming offers benefits such as automatic updates, lower upfront costs, and the ability to play on multiple devices. Overall, Cloud Gaming is transforming the way we play games and is set to become a major player in the gaming industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationVideo StreamingFile StreamingDeviceGaming ConsolesComputing DevicesSmart TVsMobile DevicesGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Typeform Delivers New Solutions to Empower B2C Businesses to Better Engage Customers

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Brands can now use video, data enrichment, and AI-powered capabilities to create interactive, hyper-personalized experiences and uncover deeper insights

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced new features that provide business-to-consumer (B2C) businesses with the context, clarity, and convenience needed to better engage and understand their customers. Now businesses can further enhance the respondent experience, all while gathering richer, actionable data. 

Today, 70% of consumer decisions are based on emotion, including brand preference.¹ Buyers expect brands to tailor experiences to their personal preferences more than ever, but at the same time, they’re also becoming more cautious about sharing personal information. Typeform’s latest features help brands collect data directly from customers through interactive, personalized experiences they trust, then automatically enhance it with third-party insights to deepen their understanding. This empowers companies to deliver more targeted, data-driven marketing.

“Businesses can’t thrive on surface-level insights,” said Aleks Bass, Chief Product Officer, Typeform. “Our latest innovations give you the ability to dig deeper into truly knowing your customers by providing dynamic data collection experiences that encourage quality responses. Whether boosting conversions with a personalized product recommendation quiz or gathering feedback through video surveys, the common denominator is that your customers enjoy the experience.”

The offerings were unveiled at Typeforum 2024, Typeform’s first-ever virtual product spotlight event, designed to showcase the latest innovations from the company. Newly released features include: 

Enhanced Video Capabilities: Typeform now allows customers to respond with video, providing businesses deeper insights through voice and expressions, not just text. This builds on Typeform’s existing feature that enables creators to record, edit, and embed personalized videos into forms, boosting engagement and conversions. Typeform research found that 65% of marketers believe video is an effective tool for engaging and interacting with customers in ways that feel more human and create connection and loyalty.²Clarify with AI: Typeform’s Clarify with AI acts as a virtual interviewer, prompting follow-up questions based on customer responses. When a customer is asked about their experience and answers vaguely, like “good,” the AI encourages more detailed feedback, asking, “Good, how? What stood out?” For customers, it feels like a personalized conversation. For brands, it delivers more insights. Automated B2C Data Enrichment: Earlier this year, Typeform introduced automated B2B data enrichment, making it easier than ever to understand customers at a deeper level without needing to ask additional questions. Now, consumer-level enrichment is available in the Typeform platform. With just a personal email address, companies can pull in key data points from trusted third-party sources, providing a more complete picture of who’s on the other side of the screen.AI-powered Qualitative Analysis: With this feature, businesses can instantly analyze large volumes of text and video responses to surface key themes and insights, saving hours of manual work. Data Quality Tools: Invisible reCAPTCHA ensures data integrity by blocking bots and automated submissions, allowing only genuine responses to be collected. This safeguard enhances data reliability, helping teams make accurate, data-driven decisions.Klaviyo Integration: Typeform will soon be launching a new integration with Klaviyo, designed for B2C and direct-to-consumer (DTC) marketers. It will ensure that every insight gathered flows seamlessly into Klaviyo. Manual data transfers are eliminated as segments automatically update with Typeform data, enabling hyper-targeted campaigns customized to each customer’s unique profile. This integration combines Typeform’s interactive data collection with Klaviyo’s automation, facilitating more natural, personalized customer connections while driving business growth.

“We built a powerful product recommendation quiz not just to help our customers, but to generate invaluable data that allows us to better segment and engage them with relevant marketing,” said Addison Wennar, Digital Communications Manager, OGEE. “With the holiday shopping season approaching, these insights will be key. Typeform already delivers the highest response rates for us, and I’m excited to see how the new features will amplify that impact.”

The features are available today in Typeform for Growth plans. Watch the Typeforum 2024 recordings and learn how to use Typeform to better understand and engage customers here

About Typeform
Typeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.

1         Pendell, R. (2024, October 15). Customer brand preference and decisions: Gallup’s 70/30 principle. Gallup.com. https://www.gallup.com/workplace/398954/customer-brand-preference-decisions-gallup-principle.aspx#:~:text=70%25%20of%20decisions%20are%20based,Making%20Process:%20Rational%20or%20Emotional?

2          Data from a survey of 105 Typeform customers conducted on September 30, 2024.

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SOURCE Typeform S.L.

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Electronic Drives and Controls Celebrates Impressive Growth and Strong Demand for Industrial Automation Solutions

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EDC has announced 39% revenue growth over the past year and a strengthened presence in the metals converting and composites industries. The company has also maintained key certifications, including CSIA, UL508A, Rockwell Automation, Siemens, and Ignition.

PARSIPPANY, N.J., Nov. 14, 2024 /PRNewswire-PRWeb/ — Electronic Drives and Controls, Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced that the company has experienced a year of growth and success, achieving a 39% increase in revenue year-over-year. To meet the growing demand for automation and drive solutions, EDC has expanded its team, hiring Ricky Arcky as human resources manager and Tyler Schaberick as systems engineer. EDC attributes this growth to maintaining industry certifications, digital marketing efforts, a dedicated team, and strong, long-term partnerships.

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients.”

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients,” said Chuck Dillard, Vice President of EDC. “Our recent hires and increased project load reflect our strategy to grow both wider and deeper with our existing clients, as well as entering new industries.”

“We’ve put in years of preparation and invested heavily in digital marketing to get the word out about our services, knowing that growth was inevitable,” Dillard added. “Our team has worked tirelessly and the results speak for themselves: clients continue to return to us because of our technical expertise and the strong results we deliver.”

EDC’s expertise in coating & laminating, wire and cable, PLC programming and upgrades, as well as drive service, has allowed the company to strengthen its presence in the metals converting industry, securing new and expanded projects across multiple client plants. EDC has also successfully completed upgrades for a new client in the composites industry, widening the portfolio of industries it caters to.

In addition to recent growth, EDC remains committed to maintaining the highest industry standards through its CSIA certification, which ensures adherence to best practices in control system integration. Several certifications, including UL508A recertification and certifications from Rockwell Automation, Siemens, and Ignition, further emphasize EDC’s dedication to safety, technical proficiency, and continuous improvement.

About Electronic Drives and Controls, Inc.
Founded in 1968, Electronic Drives and Controls, Inc. (EDC) is a CSIA Certified control system integrator with deep domain expertise in the coating and laminating, and converting industries. The company’s large field service team specializes in AC and DC drives, PLCs and factory automation. Family owned and operated for more than 50 years, EDC’s team of engineers and technicians has a vast experience integrating new control systems and breathing life into older equipment. EDC has the engineering capability to design, build, start-up and service projects from the sophisticated to the simple and the service support team on call 24/7/365 to keep it all running at peak efficiency from day one and for years to come. In addition to the company’s certification as a Siemens Solution Partner and a Rockwell Automation Recognized System Integrator, EDC is a factory authorized/factory trained service center for over 40 drive brands. For more information, visit the company’s website, LinkedIn, Twitter, Facebook, and YouTube.

Media Contact

Georgia Whalen, Rivergate Marketing, (978) 697-2664, Gwhalen@rivergatemarketing.com, www.electronicdrives.com/home/

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SOURCE Electronic Drives and Controls, Inc. (EDC)

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Allstate Financial Services Selects Covr to Provide Life Insurance, Long-Term Care, and Disability Insurance Solutions

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Covr’s Digitally Enabled Insurance Platform Will Simplify the Buying Process

HARTFORD, Conn., Nov. 14, 2024 /PRNewswire/ — Covr, a leading digital insurance provider, has partnered with Allstate Financial Services, LLC to offer a streamlined suite of life, long-term care (LTC), and disability income insurance solutions through Covr’s digital platform. This partnership provides Allstate Financial Services customers with a simple, connected experience, featuring an intuitive, paperless process that makes it easier than ever to purchase insurance tailored to their diverse needs.

Covr’s platform offers an easy-to-use, self-guided experience to efficiently compare and recommend insurance products. Additionally, Allstate Financial Services will offer a range of products through Covr’s platform, including guaranteed issue life insurance through Gerber Life and disability insurance through Assurity, Ameritas, MassMutual, Mutual of Omaha and Principal. Traditional long-term care will also be available through Mutual of Omaha.

“We are extremely pleased to add Allstate’s network of 7,000+ representatives to our insurance platform,” said Michael Kalen, CEO of Covr. “Their business owners and individual customer base fits perfectly with our portfolio of simplified life, LTC, and disability income solutions for agents and their customers.”

“We’re committed to expanding solutions that better meet our customers’ protection needs,” said Scott Delaney, President and CEO, Allstate Financial Services. “With Covr’s digital platform, our representatives can deliver a more connected experience and offer a broader range of insurance options tailored to each customer’s unique needs.”

Allstate representatives will collaborate closely with Covr’s sales team to ensure ongoing support. Allstate Financial Services will also benefit from Covr’s top-tier case management services, providing end-to-end support throughout the entire insurance process.

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SOURCE Covr Financial Technologies

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