Video gaming has grown to have generated a huge income value in many countries, particularly Nigeria, Egypt and South Africa.
Statistical analysis reveals that by the end of 2023, video gaming in these three nations combined would hit a value of $2 billion. With Egypt taking the lead for a projected revenue of $983.80 million, South Africa and Nigeria will follow closely with revenues of $558.40 million and $483.40 million, respectively.
This is expected to raise the country’s annual growth rate to 8.85% for Egypt, 7.51% for South Africa and in Nigeria, the video games market is forecasted to achieve a record revenue of $483.40 million in 2023. Projections suggest an annual growth rate (CAGR 2023-2027) of 9.03%.
Meanwhile, the statistics forecasts that the largest market segment in Nigeria is downloaded games, with a market volume of $219.70 million in 2023.
In Egypt, mobile games takes the largest segment, as it raises volume of $665.40 million in 2023.
These video games includes console games, PC games, mobile games, online games, as well as purchase of game hardware and accessories like gaming consoles, controllers, and virtual reality headsets.
Mobile gaming is taking the lead as the gaming industry is projected to hit $334 billion value by the close of 2023.
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