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Tuesday, May 24, 2022

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Covid-19 lockdown triggers a spike in gaming

Published May 13, 2020


CAPE TOWN - With South Africa and most countries across the globe in lockdown, gaming has become a way for millions of people to pass time and find a means to escape during isolation.

Games market insights and analytics company Newzoo reported that the global pandemic contributed to a 9.3percent increase to the global gaming market which is forecasted to generate $159.3 billion in revenue in 2020.

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This is while movie and entertainment industries take massive quarterly losses due to the coronavirus outbreak. It is expected that only the browser-based gaming sector may incur a loss in revenue.

Meanwhile, Newzoo senior market analyst Tom Wijman's report shows that mobile games alone will generate $77.2 billion in revenue this year.

Console gaming has a slow growth of $45.2 billion in 2020 due to the physical distribution and cross-company collaborations while PC gaming growing 4.8percent annually to 36.9 billion in 2020.

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