China's cloud gaming industry to grow fast: Report

BEIJING -- The revenue of China's cloud gaming market is expected to grow at a compound annual rate of 135 percent from 2020 to 2023, an industry report has forecasted.

The estimated revenue growth will be significantly higher than the global average of 101 percent, 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.

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 percent 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 and B2C 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.