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The African gaming market will be worth $1 billion by 2024 🎮🕹️👾

The African gaming market will be worth $1 billion by 2024 🎮🕹️👾

#consumer markets
#investments
#digital economy
#gaming
By 2024, African gaming is projected to be worth about $1 billion, according to data from research firm Newzoo. In 2022, games sold in the region generated $862.8 million in revenue, up 8.7% YoY. New data released from Newzoo, the leading provider of games market data and insights, and Carry1st, Africa’s leading publisher of games and digital content, reveals that the African gaming market is set for continued growth, driven by increased mobile gaming revenues.

The African gaming market is projected to be worth approximately $1 billion by 2024, with mobile gaming driving the growth, according to research firm Newzoo. In 2022, the region's gaming market generated $862.8 million in revenue, marking an 8.7% year-on-year increase.


A report commissioned by Carry1st, Africa's leading publisher of games and digital content, indicates that the Sub-Saharan Africa gaming market is expected to surpass $1 billion by 2024, with an estimated growth of 10.6% in the following year. The mobile gaming sector is predicted to lead this growth, outperforming the combined revenues of console and PC gaming.


An earlier report from Newzoo and Carry1st, released in 2021, suggested that the games industry in Sub-Saharan Africa was on track to experience a 728% growth in a decade.


The report highlights the potential of the African gaming market but also notes the challenges of finding success in the region, as it houses 7% of the global player audience but contributes less than half a percent of global gaming revenues. Infrastructure improvements, adoption of digital payments, and localized content are expected to drive the region's gaming market growth in the coming years.


Mobile gaming generated $778.6 million in revenue in 2022, and the overall gaming revenue in Africa is expected to surpass $1 billion within a year. The African mobile gaming industry is projected to generate $1.1 billion in revenue by 2025, with sustained growth from 2023 to 2025. By 2023, the African mobile gaming market is anticipated to surpass the PC gaming market by almost tenfold.


Analyzing ten major countries in the region, including Nigeria, South Africa, Kenya, Ethiopia, Ghana, Côte d'Ivoire, Angola, Tanzania, Cameroon, and Uganda, the report reveals that Nigeria leads in total annual gaming revenue ($249 million), followed by South Africa ($236 million), Kenya ($46 million), Ethiopia ($42 million), and Ghana ($34 million). Ethiopia experienced the highest year-on-year growth in 2022 at 13%, while Uganda had the slowest growth at 6%. Nigeria and South Africa together contribute twice the revenue of the other eight top countries combined.


Carry1st's CEO and Co-founder, Cordel Robbin-Coker, emphasized that Africa continues to be the fastest-growing mobile gaming market in the world. With increasing internet users and rapid adoption of digital payments, Africa is poised to become a major player in the global gaming industry, following in the footsteps of Southeast Asia.


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