World Bank in its publication “Global Economic Prospects” estimates that this year global growth will be reduced by 5.2%, which will be the deepest recession since the World War II. Some industries have felt the consequences of the pandemic more severely. “After six decades of continual growth, tourism has become the significant pillar of economic development “, states the Organization for Economic Co-operation and Development (OECD) in its publication “Tourism Trends and Policies 2020”. However, tourist destinations are currently facing reduction in the number of international tourists by 60-80%. Airlines, automotive industries and many others are also coping with similar challenges.
Nevertheless, some of the industries recording strong growth year by year were not affected by the pandemic. For example, statistics show that export of hardware in ICT sector, including computers, peripherals and computer components has increased significantly between 2012 (10,5 percent) and 2017 (11,5 percent), when Hong Kong, Philippines, Singapore and Malesia stood out as the largest exporters.
Technological progress as an incentive for growth
Business transformation and development of the new technologies including AI and IoT, precisely their vast implementation in business and daily life, influenced the growth of gaming industry and many others. It is estimated that their influence will be significant in the decades to come.
How Covid-19 influenced?
PC equipment industry records 10,3% growth in 2020, or 3,6 trillion dollars worldwide, compared to the same period last year. An interesting and strange phenomenon can be noted – all market segments are growing simultaneously.
Closing borders, social distancing and restricting movement have led to an increase in the sales of hardware gaming components. During this period gaming enthusiasts had more time to try out some new games, to break their personal records and to perfect their skills. During the isolation and state of emergency, many discovered their gaming enthusiasm. So, far from strange is the fact that number of gamers worldwide has increased as well, from 1,99 million in 2015 to 2,69 million in 2020.
Estimations for the future
Although this industry is approaching 40 trillion dollars in sales in 2020, experts are cautious when it comes to the predictions. Going back “to normal” might decrease interest in gaming, but despite that, positive trends and indicators in this industry can be expected to continue.
