China’s cloud gaming industry revenue to grow at 135%

Beijing, April 4 : The revenue of China’s cloud gaming market is expected to grow at a compound annual rate of 135 per cent from 2020 to 2023, according to a forecast in an industry report.
The estimated revenue growth will be significantly higher than the global average of 101 per cent, making China one of the leading potential markets for cloud games, according to the report jointly released by the Tencent research institute and Newzoo, a global games and esports analytics provider, Xinhua news agency reported on Sunday.
The number of potential cloud game users in China will hit 60.65 million in 2021, and patent activity in the cloud gaming sector increased by 81 per cent year on year in 2019, read the report.
Most major technology companies in overseas markets have entered the field of cloud games, and many smaller companies have provided B2B (business-to-business) and B2C (business-to-customer) services.
As the educational, meeting, entertainment and social functions of TV have been activated during the Covid-19 pandemic and recovery period, interactive entertainment in living rooms may provide opportunities for the development of cloud gaming, the report noted.(IANS)