A global communication provider, Ribbon Communications Inc, recently revealed that an independent study reveals Cloud Gaming’s $150 billion revenue-generating potentials. The researchers took into account over 5000 enthusiastic gamers. The study also revealed that carriers that offer 5G networks will benefit the most as they offer enhanced service and improved performance experience.
The Chief Marketing Officer at Ribbon’s Business Development sector, Patrick Loggerst, said that the carriers proving 5G networks offer high speed, improved service, and high-quality performance, which is why they are a major factor in uplifting growing businesses. He further mentioned that the study has shown them that 5G combined with cloud gaming is a profitable area that they can tap into. He also said that the possibilities of the combination will be discussed in their 5G Perspective event.
Researchers Collected Data From Across 5 Countries
The research collected data from over 5000 gamers from five different countries. The study revealed that these enthusiastic gamers spend a minimum of three hours playing games in a day. When asked if they would be paying a higher price for a better service, their answer was in the affirmative.
Other major findings from the research include:
1. For a premium experience, 58 percent of gamers currently pay a higher price.
2. 79 percent of gamers are willing to replace their mobile connectivity and broadband with a 5G network if that means they will receive better service.
3. For a better gaming experience, 95 percent of gamers are willing to lay a higher price.
4. 58 percent of gamers are willing to switch to the 5G network.
5. As per the data collected, it has been determined that the 5G network’s better connectivity will definitely spur up the carrier and the gaming industry’s financial gains.
An analyst at Global Data, Lynnette Luna, said that combining 5G with cloud gaming is a huge opportunity that will benefit both carriers and gamers.
Apart from the 5G network connectivity that will generate a $150 billion economy, carriers can even venture out into partnering up with game providers. They can create additional opportunities by selling subscriptions to packages and cloud gaming services.
Gamers Ready For A Combination Of 5G Network And Cloud Gaming
Joggerst further added that today’s gamers know all about network connectivity and are aware of how a slow service can disrupt their gaming experience. If given a chance, they would choose to switch in an instant. Furthermore, if a carrier invests in 5G networks, they would be offering this crucial connectivity to gamers that they are demanding at the moment. Capitalizing on this and dominating the 5G cloud gaming industry should be a carrier manufacturer’s goal.
The research for cloud gaming collected data from Japan, the UK, the US, Germany, and South Korea before the outbreak of COVID-19.