Saudi Arabia is looking to make a big impact on the global gaming market. In fact, the Saudi Arabian esports market is expected to be worth $6.8 billion by 2030.
According to a report by Boston Consulting Group (BCG) the market was valued at $959 million in 2020. This means that the Saudi Arabian esports industry will experience a compound annual growth rate (CAGR) of 22% during this period.
“From a Saudi standpoint, these growth projections undoubtedly bode well for the local gaming and esports community,” said Povilas Joniskis, a partner at BCG. “Despite the kingdom being a relatively recent entrant to this space, the industry is vibrant and fast-growing, nevertheless. Passionate gamers are primarily powering its growth and popularity at present, and it is more than feasible for them to embark on full-time careers and become involved on the international stage. Yet first, key barriers concerning aspiring Saudi competitors and professionals must be overcome.”
BCG’s report also showed that Saudi Arabia is home to about 23.5 million gamers. This represents 67% of the country’s total population.
The Profit‘s Take:
Everybody has their eyes on India and China when it comes to gaming. If you ask me though, Saudi Arabia and the UAE are going to be the horses to bet on in the gaming sector. There’s massive growth coming from that part of the world. Pair that with a ton of disposable income, and you’ll soon get a global leader in esports.
(All information was provided by Arabian Business)