Amidst a global downturn in the gaming industry, the African gaming market has become a beacon of growth, defying prevailing trends and poised to surpass the remarkable milestone of $1 billion by 2024. The driving force behind this unprecedented surge? The rapid expansion of mobile gaming.
Newzoo, the leading provider of games market data and insights, in collaboration with Carry1st, Africa's prominent publisher of games and digital content, has released a groundbreaking report that uncovers the thriving landscape of the African gaming industry.
This revelation showcases an industry that stands resilient, fueled by the soaring revenues from mobile gaming, and ready to chart an upward trajectory in the market.
Carry1st's commissioned report reveals staggering projections for the Sub-Saharan Africa gaming market, with forecasts surpassing the $1 billion threshold by 2024, followed by an estimated growth rate of 10.6% the following year.
The most striking aspect of this surge is the pivotal role played by mobile gaming, outpacing the combined revenues generated by console and PC gaming.
These findings build upon a previous 2021 report from Newzoo and Carry1st, which shed light on the Sub-Saharan Africa best betting sites games industry's exceptional potential, anticipated to witness a jaw-dropping 728% surge over a decade.
More insights extracted from the comprehensive study include:
- The African gaming market is on track to exceed the $1 billion mark within the next year.
- By 2023, the African mobile gaming market is expected to outperform the PC gaming market by almost tenfold.
- In a detailed analysis of ten major countries in the region, Nigeria leads the pack in total annual gaming revenue, amassing an impressive $249 million, closely followed by South Africa at $236 million.
- Kenya, Ethiopia, and Ghana secured subsequent positions, contributing $46 million, $42 million, and $34 million, respectively.
- Nigeria and South Africa collectively generate twice the revenue of the other eight top countries combined.
Commenting on the report, Cordel Robbin-Coker, CEO and Co-founder of Carry1st, said: "Obtaining reliable data on the African market has historically been a challenge, making our partnership with Newzoo to share this report truly rewarding. The latest findings reinforce Africa's position as the world's fastest-growing mobile gaming market, a phenomenon magnified by Western markets grappling with slowing growth and decline."
Robbin-Coker added an ambitious outlook, proclaiming, "With a massive surge in internet users and the rapid adoption of digital payments, Africa is poised to follow in the footsteps of Southeast Asia and emerge as a major global player in the gaming industry."
Tom Wijman, Lead Games Analyst at Newzoo, offered insights into the immense potential of the African games market. He stated, "The African games market is a testament to untapped potential. Over the past three years, its growth has consistently outpaced the global average, and this trend shows no signs of slowing down. However, it is important to recognise the unique challenges within the region. While Sub-Saharan Africa accounts for 7% of the global player audience, its players contribute less than half a per cent of global gaming revenues."
Wijman highlighted key factors that will fuel Africa's gaming market growth, noting, "Infrastructure improvements will ensure the rapid expansion of Africa's player base, while the integration of digital payment systems within gaming platforms will facilitate the conversion of players into paying gamers. Furthermore, local success stories such as Carry1st and the provision of localised content will serve as catalysts for the region's gaming market, fostering remarkable growth in the coming years."