Cloud gaming generated almost $1.5bn in 2021 - Newzoo

Growth in sector expected to push revenues to four times that figure by 2024

Cloud gaming revenues hit nearly $1.5 billion last year, according to new data from Newzoo.

A new report shared that the number was generated by 21.7 million paying users across cloud gaming services throughout 2021.

That figure is more than double the $671 million made in cloud revenue in 2020.

It also predicts that number will continue to grow, potentially hitting $6.3 billion by 2024.

Newzoo listed a series of cloud gaming trends to take note of in the coming year, noting that the sector may see an increase in adoption due to ongoing hardware shortages.

The firm highlighted several instances of cloud gaming heading to TVs via partnerships -- notably Samsung and LG's collaborations with Nvidia.

It also pointed towards more potential consolidation in cloud streaming following several deals in 2021, including Unity's acquisition of streaming platform Parsec and Intel buying Polish cloud firm RemoteMyApp.

Xbox and PlayStation have also bolstered cloud gaming efforts this year; Xbox is looking to publish cloud-first titles while Sony has revamped its PS Plus service to give players access to a back catalogue of PlayStation titles via the cloud.

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