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The “Africa Gaming Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The gaming industry is expected to register a CAGR of 12% during the forecast period (2021-2026). The Covid-19 pandemic had a positive effect on the African Gaming Market. The pandemic lead to mandated stay-at-home orders, which resulted in the customers spending more time and money on various games and gaming consoles, which led to the growth of the commercial segment of the gaming market.
Key Highlights
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The most recent trend is the growing availability and popularity of multi-functional gaming consoles, which are emerging in the market and helping in growing the market of video games in the region.
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The African region is one of the regions in the world where the youth population is increasing. By 2050, Africa’s young people, ie, those aged between 0 and 24 years, will witness an increase of around 50%. Africa is expected to have the most significant number of young people. Africa’s youth is critical to the continent’s future when it comes to gaming.
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Moreover, African studios are making new inroads with the launch of original, locally produced content on Netflix. Several local content productions have also been nominated for several global awards, including the Oscars.
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The video games market in South Africa has witnessed strong growth in the past few years. It is expected that there will be more than 11 million gamers in South Africa. Gamers in the country are moving to social gaming, the free-to-play revenue model with downstream in-game purchases. It has become increasingly popular in the country.
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Owing to such factors, the market is expected to witness growth over the forecast period. Countries like Kenya, Nigeria, and Uganda are the other top game developers in the African region. The gaming industry is also bringing…
Full story available on Benzinga.com
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