World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Cloud Gaming Revenue To Surpass $1 Billion For The First Time In 2021

There was a massive surge in engagement and spending across the gaming industry in 2020. Cloud gaming is among the verticals expected to experience continuous exponential growth in 2021.

According to the research data analyzed and published by Safe Betting Sites, annual revenue from the global cloud gaming revenue will surpass $1 billion for the first time in 2021. This is nearly double the estimated revenue for 2020, which was about $585 million.

Analyst firm Omdia offered a much more optimistic outlook, projecting 188% growth for the industry’s revenue. Per its forecast, it will grow to $4 billion in 2021, tripling to $12 billion by 2025.

Global Gaming Industry to Generate $189.3 Billion in 2021

The cloud gaming market was valued at $170 million in 2019 according to Newzoo. Its Total Addressable Market (TAM) is forecast to grow from $12.58 billion in 2018 to $56.57 billion by 2027.

Similarly, mobile gaming is projected to grow massively in 2021. According to AppAnnie, its revenue will rise by 20% in 2021 to reach $120 billion. In 2019, the mobile gaming industry generated $68.5 billion according to Newzoo.

The number of mobile games has also been on the rise, going from 2.3 billion in 2018 to 2.51 billion in 2020. This figure translated to about 30.7% of the global population.

Based on a study by Newzoo, the total number of gamers in the gaming industry is set to rise to 2.8 billion. They will enable the global gaming industry to generate $189.3 billion by the end of the year, up from $174.9 billion in 2020. By 2023, the overall industry revenue could grow to $217.9 billion.

Among the factors driving its growth will be 5G network penetration. By the end of 2021, 16% of smartphones will be 5G-ready compared to 5% in 2020. By 2023, the 5G market share will be at 43%.

The full story, statistics and information can be found here: https://www.safebettingsites.com/2021/01/22/cloud-gaming-revenue-to-surpass-1-billion-for-the-first-time-in-2021/

© Scoop Media

 
 
 
World Headlines

 

Syria: Economic Decline, Rising Hunger And Surging Humanitarian Needs

Syria’s fragile economy has “suffered multiple shocks” over the past 18 months, with its currency plummeting and joblessness swelling as people struggle to cover their basic needs, the UN Emergency Relief Coordinator told the Security Council ... More>>

OECD: Final Quarter Of 2020 Shows Continued Recovery In G20 International Merchandise Trade

G20 international merchandise trade continued to rebound in the fourth quarter of 2020 ( exports up 7.2% and imports up 6.8%), following the sharp falls seen in the first half of 2020, as lockdown measures affected trade globally. Although growth ... More>>

UN Report: Civilian Casualties Surged After Peace Talks Began In Afghanistan

Monitoring by the UN Assistance Mission in Afghanistan, UNAMA, and the UN Human Rights Office has revealed that despite a drop in civilians killed and injured overall in 2020 there was a rise in civilian casualties following the start of peace negotiations ... More>>

Focus On: UN SDGs


2021: Critical Year To ‘reset Our Relationship With Nature’ – UN Chief

During this time of “crisis and fragility”, the UN chief told the United Nations Environment Assembly on Monday that human well-being and prosperity can be vastly improved by prioritizing nature-based solutions. Painting a picture of the turmoil ... More>>


Paris Agreement: UN Secretary-General António Guterres To Mark U.S. Reentry With Envoy For Climate John Kerry

Watch live at webtv.un.org UN Secretary-General António Guterres will join U.S. Special Presidential Envoy for Climate John F. Kerry at an event marking the United States’ reentry into the Paris Agreement this Friday. The discussion with the Secretary-General ... More>>

WeBeliev: Scoop In Conversation With Abhishek Sinha, Founder Of WeBeliev, An NZ Crowdfunding Platform

WeBeliev supports 17 SDGs, launching sector specific campaigns every month Q. What is WeBeliev and why did you start it? A. WeBeliev is a Singapore-registered crowdfunding platform aimed at fundraising for all the 17 Sustainable Development Goals (SDGs) ... More>>