Covid-19 accelerates global video gaming market to $170 billion

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Stuck at home, people around the world have been spending a lot more time and money on video games according to a new Simon-Kucher & Partners report. The resultant boom in the gaming market might just be here to stay.
Together with market research institute Dynata, Simon-Kucher & Partners surveyed more than 13,000 consumers across 17 global markets, looking to understand gaming patterns. The results are promising for the global gaming industry, with an uptick across nearly all metrics
Restrictions on travel, activity and public gatherings imposed in most countries forced many to stay at home during Covid-19, in some cases completely negating the social life of a consumer. For many, gaming has become a substitute for social interaction, as people crave competition and cooperation and use virtual worlds to meet these needs.

Hours spent on playing videogames have skyrocketed as a result. ‘Casual gamers’ are described by the researchers as individuals who play up to five hours of video games each week, while ‘gamers’ spend anywhere between 5 and 20 hours. Only those who dedicate more than 20 hours of their week to gaming fall within the ‘serious gamers’ category.
The report reveals that there was a 30% jump in the ‘gamer’ and ‘serious gamer’ brackets during …

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