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Reproduced from ABI Research; Chart: Axios Visuals

Revenue from cloud gaming is expected to explode in the next four years, according to a new report from ABI Research, commissioned by InterDigital, a mobile technology research and development company.

Why it matters: Higher broadband speeds and penetration from 5G connectivity will make cloud computing gaming more accessible to the masses.

Catch up quick: Cloud gaming services move processing of game play from the user's hardware device to the provider's server farms, creating a potentially simpler and cheaper experience for the player.

By the numbers: Worldwide cloud video game revenue is expected to grow to nearly $4.5 billion USD by 2024, up from roughly $500 million in 2019, per the report.

  • The majority of that growth will be prompted by users in the Asia-Pacific region, followed by North America and Western Europe.

The big picture: New streaming services from tech giants like Facebook, Google and Apple aim to move not only the software but the processing for games into the cloud.

  • That means gamers wouldn't have to buy individual games and specialized hardware anymore — they'd just subscribe to a service.

Go deeper: The video game subscription wars are on

Go deeper

Amazon posts strong Q3 results despite ongoing pandemic costs

Photo: Ina Fassbender/AFP via Getty Images

With the pandemic driving consumers to shop online, Amazon beat analyst expectations on Thursday with its Q3 results, though its stock price didn't see much of a bump.

Why it matters: Despite incurring what it estimates was about $2.5 billion in pandemic-related costs during the quarter, Amazon's revenue grew 37% year-over-year to $96.1 billion and its profits to $6.3 billion, up 197% year-over-year.

Ina Fried, author of Login
Oct 30, 2020 - Economy & Business

The pandemic isn't slowing tech

Illustration: Eniola Odetunde/Axios

Thursday's deluge of Big Tech earnings reports showed one thing pretty clearly: COVID-19 may be bad in all sorts of ways, but it's not slowing down the largest tech companies. If anything, it's helping some companies, like Amazon and Apple.

Yes, but: With the pandemic once again worsening in the U.S. and Europe, it's not clear how long the tech industry's winning streak can last.

Oct 29, 2020 - Technology

Facebook beats on earnings

Photo: Thomas Trutschel/Photothek via Getty Images

In earnings for the 2020 third quarter released Thursday, Facebook reported modest user growth but revenue increases that beat Wall Street expectations.

Why it matters: Facebook's business looks resilient and thriving despite — or maybe because of — the pandemic.

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