Lazy Loading & Code Splitting

What can Route-based code splitting achieve in a single-page application?
import { lazy } from 'react';

const Home = lazy(() => import('./routes/Home'));
const About = lazy(() => import('./routes/About'));
const Contact = lazy(() => import('./routes/Contact'));

const routes = [
  { path: '/', component: Home },
  { path: '/about', component: About },
  { path: '/contact', component: Contact }
];
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