Sign in
The local gaming sector is expected to bring in some USD 998.2 mn (SAR 3.7 bn) in revenue this year, driven by the Kingdom’s large, young population and growing incomes, according to data from the Hamburg-based market research firm Statista. That’s nearly 11% year-on-year growth.
Set to boost trend upwards: The market for video games will expand at an annual growth rate of 8.5% until 2027 to USD 1.3 bn. Meanwhile, the number of players is forecast to hit 2.8 mn within the same timeframe. User penetration will likely edge up to 7.4% in 2027 from its current level of 6.9%.
Mobile games hold the lion’s share: Mobile games will account for about half of all spending on games this year at USD 467.6 mn, according to the research. The number of mobile game players will hit 6.1 mn in 2027 as the market swells at a compound annual growth rate (CAGR) of 6.6% until 2027.
Meanwhile, online games will generate USD 33.4 mn in revenue in 2024, which is expected to grow at a CAGR of 6% to 39.8 mn in 2027. Local gaming networks’ market is projected to record a revenue of USD 55 mn this year, increasing at an 8.4% clip to USD 70 mn by 2027.
For reference- China is set to maintain the world’s top spot in video games revenue, with a projected total of USD 94 bn in 2024 — mobile games will account for more than 34% of that figure.
IN CONTEXT- Saudi wants to be a leading gamer in the industry: PIF-owned Savvy Games and recently acquired ESL FACIT are working to launch the upcoming Esports World Cup this summer. Multi-bn USD development Qiddiya is also set to be home to the world’s first gaming and esports district. This is part of the Kingdom’s efforts to diversify its economy, with the industry expected to contribute SAR 50 bn to the economy by 2030.
