Cloud Gaming - Nordics | Statista Market Forecast

In the Nordics, revenue in the Cloud Gaming market market is projected to reach US$214.20m in 2024.
Revenue in this region is expected to show an annual growth rate (CAGR 2024-2029) of 30.11%, resulting in a projected market volume of US$798.90m by 2029.
Within the Cloud Gaming market market in the Nordics, the number of readers is expected to amount to 10.6m users by 2029.
User penetration in the Nordics will be 29.8% in 2024 and is expected to hit 36.8% by 2029.
The average revenue per user (ARPU) in the Nordics is expected to amount to US$25.64.
In global comparison, most revenue will be generated the United States (US$1.94bn in 2024).
The Nordics are witnessing a surge in cloud gaming adoption, driven by high-speed internet access and a strong gaming culture among younger demographics.

Definition:

Cloud gaming is a form of video game streaming that allows players to play games on their devices through an internet connection, without the need for dedicated gaming hardware or local installation of games. In cloud gaming, games are stored and run on remote servers, and the player's device only needs to send inputs and receive streaming video and audio output. Cloud gaming services often require a subscription fee and offer a library of games for users to choose from, with the ability to play games on demand. The market for cloud gaming has been growing in recent years, with the proliferation of high-speed internet connections and advancements in cloud computing technology.

Additional Information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through subscriptions and consumer spending. Market numbers are also featured in the Advertising & Media Insights. For more information on the data displayed, use the info button right next to the boxes.

Subscription for Cloud Gaming platforms, such as GeForce Now
In-game purchases from Cloud Gaming games, such as game pass

Revenues from digital video games, such as sold video games
Revenues from in-game purchases, such as in-game spending in Fortnite
Revenue from physical video games, such as buying games in stores

The Cloud Gaming market in Nordics is experiencing significant growth and development.

Customer preferences: Customers in the Nordics have shown a strong preference for cloud gaming due to its convenience and accessibility. With cloud gaming, users can play high-quality games on any device without the need for expensive gaming hardware. This appeals to the tech-savvy and digitally connected population in the region. Additionally, the Nordics have a strong gaming culture, with a high percentage of the population being gamers. Cloud gaming allows them to access a wide variety of games and play with friends online, further driving its popularity.

Trends in the market: One of the key trends in the cloud gaming market in the Nordics is the increasing adoption of subscription-based models. Instead of purchasing individual games, users are opting for monthly subscriptions that give them access to a library of games. This model provides a cost-effective solution for gamers who want to explore a wide range of games without breaking the bank. Furthermore, cloud gaming platforms are continuously expanding their game libraries, offering popular titles and exclusive content to attract and retain subscribers. Another trend in the market is the rise of mobile cloud gaming. With the proliferation of smartphones and high-speed mobile networks, more users in the Nordics are embracing mobile gaming. Cloud gaming platforms are capitalizing on this trend by offering mobile apps that allow users to play games on their smartphones or tablets. This enables gamers to enjoy their favorite games on the go, without being tied to a specific location or device.

Local special circumstances: The Nordics have a strong infrastructure and high internet penetration, which are crucial factors for the success of cloud gaming. The region is known for its fast and reliable internet connections, ensuring smooth gameplay and minimal latency. Additionally, the Nordics have a high level of digital literacy, with a large percentage of the population being tech-savvy and early adopters of new technologies. This favorable environment has created a fertile ground for the growth of cloud gaming in the region.

Underlying macroeconomic factors: The strong economic stability and high disposable income in the Nordics contribute to the growth of the cloud gaming market. With a relatively affluent population, consumers in the region have the financial means to invest in gaming subscriptions and high-quality gaming devices. Furthermore, the Nordics have a well-established gaming industry, with many successful game developers and studios. This ecosystem fosters innovation and supports the growth of cloud gaming platforms in the region. In conclusion, the Cloud Gaming market in the Nordics is thriving due to customer preferences for convenience and accessibility, the adoption of subscription-based models, the rise of mobile gaming, the region's strong infrastructure and digital literacy, as well as the favorable macroeconomic factors. As the market continues to evolve, we can expect further advancements and innovations in cloud gaming in the Nordics.

Data coverage:

Figures are based on subscription spending, consumer spending, investment, and funding data.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration and cloud revenues. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

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Cloud computing is the delivery of hosted services over the internet through the main service delivery segments; infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). Revenue in the United Kingdom (UK) from public cloud services, which makes up most of the cloud computing market, amounted to around 12 billion U.S. dollars in 2020. This is a share of almost four percent of the global public cloud market.