MENA Gaming Market To See Exponential Growth
The video gaming industry in the Middle East and North Africa is on the rise, as demonstrated by Niko Partners’ newly-released report. The survey reveals that Egypt, the United Arab Emirates, and Saudi Arabia will generate a total of $2.8 billion in video gaming profits by 2026, up from the current $1.8 billion.
This represents a 10% compound annual growth rate over the next five years. Niko Partners, a research firm that has been tracking video gaming and eSports developments in the region for years, conducted the survey and collected the data.
Gaming Audiences Expected to Grow in the Region
According to research firm Nikko Partners, the number of active video gamers in the MENA region is currently estimated at 67.4 million and expected to reach 87.3 million by 2026 with a yearly growth rate of 5%. This rise of video gaming and the industry as a whole in the region is a significant metric that Nikko Partners is looking at closely.
The firm is confident that the region is poised to “catapult” global eSports, with many Arabic sites for eSports betting already in place. The three main countries in the region, Saudi Arabia, Egypt, and the UAE are each contributing to the growth of video gaming in different ways. For example, Saudi Arabia has invested heavily in both attracting competitive gamers and the companies behind popular games. Egypt is the most populous of the three countries and many video gamers there are into eSports. The UAE has also been actively promoting video gaming and eSports in the region.
True Potential in Every Vertical of the Gaming Industry
Video gaming is booming in the MENA region, and its potential is vast. Thanks to the major investments made by Saudi Arabia, the Crown Prince’s commitment to the industry, and the potential of eSports, the region could become a major player in the industry. To realize this potential, the region must cultivate its own teams, attract investors and talent, and raise awareness of the industry. With these steps, the video gaming industry in the MENA region can unlock its vast potential and reach new heights.
eSports will have a significant impact on the future of video gaming in the industry. eSports fans and players have the potential to bring immense value to the three surveyed countries’ economies. They draw in investors and skilled personnel, fostering a prosperous local ecosystem that can continue to expand. Furthermore, increased visibility is essential; when there is a sufficient number of renowned teams from a region, it can lead to even greater developments.
Currently, the majority of powerful teams are situated in Asia, Europe, and North America, with a few from Latin America. Though the Middle East has provided these countries with talented players, it must also cultivate its own momentum if it wants to become a major player in the video gaming industry.
The Role Of Artificial Intelligence In eSports
It is clear that Artificial Intelligence (AI) is set to be a game changer across many industries. The recent breakthrough of ChatGPT-3 will likely bring about a significant transformation in the eSports and video gaming industry; something that professionals and investors are unlikely to have anticipated. As a result, the interest in eSports is likely to remain strong in spite of the ever-changing nature of the industry. The Middle East is also set to benefit from the transformative power of AI in the eSports segment. With the ability to “skip” any gap in knowledge and expertise, the region has the potential to start fresh with the latest technologies and reap the rewards of AI.
The Middle East and North Africa’s gaming industry is on track to experience exponential growth in the coming years. The region is projected to generate billions of dollars in profits and attract millions of new gamers. With investments made by countries like Saudi Arabia and increased interest in eSports, the industry’s potential is vast. To realize this potential, the region must cultivate its own teams, attract investors and talent, and raise awareness of the industry.
Additionally, the role of Artificial Intelligence in eSports is set to be a game-changer, providing the region with a unique opportunity to start fresh with the latest technologies and reap the rewards of AI. Overall, the MENA gaming market is poised for significant growth and could become a major player in the industry in the coming years.