Independent Online

Tuesday, May 24, 2022

Like us on FacebookFollow us on TwitterView weather by locationView market indicators

Covid-19 lockdown triggers a spike in gaming

Published May 13, 2020

Share

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.

Story continues below Advertisement

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.

Story continues below Advertisement

For LIVE updates on the Coronavirus pandemic, follow us on Twitter : @sacoronamonitor

CORONAVIRUS MONITOR

Related Topics:

Covid-19

Share