News

GDC 2019: Cloud games subscriptions will be worth $1.5 billion by 2023

GDC 2019: Cloud games subscriptions will be worth $1.5 billion by 2023

Subscriptions for cloud-based games content will be worth $1.5 billion by the year 2023, according to IHS Markit.

In 2018 the cloud games subscription market was reportedly worth $234 million, dominated by Sony’s PlayStation Now service. This number is expected to increase by over six times in the next four years thanks to the likes of Google entering the market with its cloud based streaming device Stadia.

This figure also takes into account other existing subscription services including Xbox Games Pass and EA/Origin Access as the offers transition over time as well as 5G been brought to the masses.

71 million Chromecasts

IHS data shows that there were an estimated 71 million Chromecasts active in the market at the end of 2018.

Additionally, it's expected that there will be over 80 million Android TV-based device shipments in 2019. However, it’s worth noting that the majority of these will be shipped to China without Google Play

“The game console market remains a large and significant part of the overall games market opportunity,” said IHS Markit director of research and analysis games Piers Harding-Rolls.

"In 2018, IHS Markit data shows console content and services spend represented 25 per cent share of the $128 billion market. In addition, world consumer spending on console hardware reached $14.7 billion bringing the overall console market opportunity to $47 billion.”

Check out our GDC coverage throughout the week right here


Staff Writer

Matthew Forde is the staff writer for PocketGamer.biz and also a member of the Pocket Gamer Podcast. You can find him on Twitter @Forde999 talking about Smash Bros. and everything pop culture related - particularly superheroes.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies