Riyadh - Sharikat Mubasher: Saudi Arabia is witnessing a rapid development as a global hub for games and esports, supported by the young and tech-savvy population.
According to Savvy Games Group's annual report for 2024, the games market in Saudi Arabia is expected to achieve revenue of $1.64 billion by 2028, compared to $1.19 billion in 2024, marking a compound annual growth rate (CAGR) of 8.2%. This growth is triggered by strong performance across all game segments, with 2023-2028 CAGRs estimated to be 8.27% for console, 7.29% for mobile, and 4.01% for PC.2.
In MENA, video games revenue is expected to grow to $6.94 billion in 2027 from $5.62 billion in 2024, marking a CAGR of 7.3%.
Brian Ward, Chief Executive Officer of Savvy Games Group, said: “2024 was another hugely successful year for Savvy. When it comes to progress against our strategy, there has been one core theme that has run throughout all our operations: impact. This has been apparent across each of our strategic pillars, game development and publishing, esports, and KSA ecosystem development, with our teams in Saudi Arabia and around the world consistently delivering excellent products, experiences, and opportunities for the global games community.”
These figures reflect the Kingdom's efforts to realize the objectives of the National Gaming and Esports Strategy (NGES), aiming to harness the creativity and energy of the Saudi population to propel the sector forward.
Moreover, the games and esports are expected to contribute nearly $13.3 billion to the Saudi gross domestic product (GDP) by 2030 and create around 39,000 jobs.
