Cloud gaming is set to enjoy a huge amount of growth in 2023, with revenues set to reach an all-time high, according to safebettingsites.com.
Revenue from cloud gaming is expected to reach $4.3bn in 2023, a 62% increase from the $2.67bn revenue in 2022. This is the biggest increase in annual growth to date.
Cloud gaming has brought a lot of change to the industry and has become one of the most popular choices for recreational gaming.
Google Stadia, Xbox Game Pass and PlayStation Now are the industry's big hitters. These companies have allowed gamers to stream a game to any display they own instead of buying a console and a disc.
That means they can play the latest games even on their smartphones. At the same time, developers can sell games as a service instead of dealing with physical copies and downloads, making the game more accessible to a wider audience.
According to a recent survey, the entire market grossed $580m in 2018. Since then there has been a huge amount of growth to where the figures are for this year.
The survey suggests that the growth will continue, to the point that in 2027 revenue is expected to reach over $18bn.
The US generates the highest cloud gaming revenue, with expected revenue of $1.2bn for 2023. China is expected to see the second-highest increase in revenue with $900m. Other countries on the list are Japan with $364.7m, the United Kingdom with $198.3m and Germany with $179.8m.