Microsoft is one of the companies interested in cloud gaming. They launched the Project xCloud streaming game service on Xbox Game Pass as of September 15, 2020. Microsoft's decision to play in cloud gaming will drive the growth of the cloud gaming market.
By comparison, in 2019, the value of the cloud gaming industry only reached $170 million. Going forward, the cloud gaming industry will continue to grow. It is estimated that cloud gaming industry revenue will continue to rise, reaching $4.8 billion by 2023.
Besides Microsoft, there are several other large companies interested in cloud gaming. In the past nine months, NetEase, Tencent, and Facebook have shown interest in the gaming cloud platform.
Nvidia has also launched its GeForce Now cloud gaming platform. Ubisoft is working with cloud gaming platform provider Parsec.
Going forward, the cloud gaming market seems to be getting more crowded. The reason is, more and more cloud gaming companies are not too big that is trying to increase the number of their users.
Not long ago, the cloud gaming company Gamestream earned €3.5 million. They will use the funds to develop their B2B cloud gaming platform. Startup RemoteMyApp received €2 million in funding in July 2020.