Time: 2024-08-18
Global gaming giants are increasingly looking to Africa for growth as the continents video games market rapidly expands . The African gaming sectors annual revenue is expected to cross billion for the first time this year , up from 62.1 million in 2022 . The Middle East and Africa games market is projected to record the highest growth among all regions this year , at 8.9 % , according to new report by games market data provider Newzoo . By comparison , the North American market is expected to grow by just 0.6%.
The worlds youngest population , rapidly expanding internet connectivity , and increasingly widespread smartphone access are among factors driving growth of Africas games market . Gaming startups on the continent are attracting more funding and firms such as Disney , Electronic Arts ( EA ) and Riot Games are partnering with African gaming studios.
Shapiro also said that investment in African gaming startups had been increasing in recent years , attributing it to factors including slowed growth in North America and aging demographics in Europe that he said had drawn more attention to Africa.
With the African gaming sectors annual revenue expected to surpass billion this year , it is evident that the region presents significant opportunities for the Video game industry . The rapid expansion of the market , driven by factors such as the continents young population and increasing internet connectivity , has attracted the attention of major global gaming companies.
The partnership between African gaming studios and industry giants like Disney , Electronic Arts ( EA ) , and Riot Games indicates a growing interest in the regions gaming potential . This collaboration not only brings more funding to African startups but also highlights the regions position as a key player in the global gaming landscape.
The Middle East and Africa games market is projected to record the highest growth among all regions this year , with an expected growth rate of 8.9 % . In comparison , the North American market is forecasted to grow by just 0.6 % . This data signals a shift in focus towards Africa as a lucrative market for the video game industry , driven by the continents demographic trends and increasing access to technology.
As investment in African gaming startups continues to rise , the regions gaming industry is poised for further expansion . The interest from international firms and the growing funding opportunities suggest a promising future for Africas gaming market , paving the way for innovation and collaboration within the industry.
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