For instance, ‘The Forge Arena’ made by Phoenix Rising Studio’s is a Canadian startup that is looking to become a new player in eSports. The sector is also witnessing considerable activity from startups, that are further propelling the market growth. Even though the United States overtook South Korea in terms of revenues in the eSports business, it still hosts one of the biggest tournaments in the world. South Korea is considered to be the country of origin of eSports. Riot Games with League of Legends and DotA 2 are two of the notable examples of influential actors in the eSports business. eSports are witnessing substantial market demand in the current market scenario, and are thus driving the overall gaming industry across the globe. Adoption of Gaming Platforms, such as E-sports, drives the market.
Also, in May 2020, Nvidia GeForce Now added 19 games to its cloud gaming library, and further announcing an additional18 new games that will be available on GeForce NOW.? This has prompted video game majors such as Sega, Ubisoft, Epic Games, Atari, Warner Bros, Disney Interactive studio to establish partnerships with Onlive to distribute their games.
This new sector is also seen as a serious competitor for the traditional game market. Several companies such as Onlive, G-Cluster, StreamMyGame, Gaikai, and T5-Labs are already offering commercial cloud gaming services. In cloud gaming, the server, where all the games are stored, does all the computation work, which includes game scene rendering, game logic processing video encoding, and video streaming. Recent advances in advanced cloud technology have turned the idea of cloud gaming into reality. The emergence of cloud gaming is driving the market. New York, (GLOBE NEWSWIRE) - announces the release of the report "Gaming Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)".
Game developers across emerging economies are continually striving to enhance gamer’s experience, launching, and rewriting codes for diverse console/platforms, such as PlayStation, Xbox, and Windows PC, which are incorporated into one product provided to the gamers through the cloud platform. 63 billion by 2026, registering a CAGR of 10.
32 billion in 2020 and is expected to reach a value of USD 295. The global gaming market was valued at USD 162.