Egypt, South Africa, Nigeria video gaming to hit $2 billion
The video gaming industry in Egypt, South Africa, and Nigeria is poised to reach a combined value of $2 billion by the end of 2023.
This is based on data compiled by NewsTimes on Statista. According to analysis, Egypt takes the lead with a projected revenue of $983.80 million, while South Africa and Nigeria follow closely with revenues of $558.40 million and $483.40 million, respectively.
This report encompasses a broad spectrum of products within the video games market, including console games, PC games, mobile games, and online games, along with associated hardware and accessories like gaming consoles, controllers, and virtual reality headsets.
More insight
Breaking down the revenue projections for each country, Egypt’s video games market revenue is anticipated to reach $983.80 million in 2023, with an expected annual growth rate (CAGR 2023-2027) of 8.85%.
Notably, mobile games represent the largest segment in Egypt, accounting for a market volume of $665.40 million in 2023.
For South Africa, revenue in the video games market is projected to reach $558.40 million in 2023, with an expected annual growth rate (CAGR 2023-2027) of 7.51%.
In South Africa, the most substantial market segment is mobile games, contributing a market volume of $179.40 million in 2023.
Meanwhile, in Nigeria, the video games market is forecasted to achieve a record revenue of $483.40 million in 2023.
Projections suggest an annual growth rate (CAGR 2023-2027) of 9.03%. The largest market segment in Nigeria is downloaded games, with a market volume of $219.70 million in 2023.
The global video gaming industry is set to reach an estimated $334 billion by the close of the year with mobile gaming leading the charge in revenue.
