Nvidia's Terrific Position in This Nascent Market Could Supercharge Its Growth

Video gaming and esports analytics provider Newzoo estimates that the cloud gaming market generated $1.57 billion in revenue in 2021, more than double the previous year's revenue of $669 million.

The market's terrific growth last year was driven by 23.7 million paying subscribers. Nvidia (NASDAQ: NVDA), as it turns out, was the biggest player in this space -- the tech giant pointed out last month that its GeForce NOW cloud gaming service had crossed 15 million subscribers.

This indicates that the graphics specialist is already commanding over 63% share of this nascent but lucrative market that's growing rapidly. Cloud gaming allows gamers to stream and play high-end games even on underpowered devices thanks to remote servers that are equipped with powerful hardware. All that they need is a fast network and a subscription to a cloud gaming service such as GeForce NOW.

Source Fool.com