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Smartphone Subscriptions in the Middle East Gaming Market, GCC Countries 2021 2028
Middle East Gaming Market Share in Mobile Internet Traffic in Saudi Arabia and Other Countries in Percent 2022
Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) — The “Middle East Gaming Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” report has been added to ResearchAndMarkets.com’s offering.
The gaming industry in the Middle East is experiencing an unprecedented surge, with projections indicating an escalation from USD 5.71 billion to USD 9.63 billion by 2028. This robust compound annual growth rate of 11.01% from 2023 to 2028 is attributed to various catalysts including the advent of COVID-19, which has significantly spiked online gaming traffic as consumers turn to digital entertainment amidst the pandemic.
The most recent report that loses light on the Middle East gaming market shows must-have information about the upcoming landscape of the regional market. The UAE is emerging as a hotspot for gaming, thanks to really significant investments in the local gaming ecosystem and a strategic strategy. on indigenous capacity building.
The Rise of Smartphone Gaming With mobility at its core, the smartphone segment is expected to capture a significant percentage of the market. The accessibility of smartphones has democratized gaming, introducing it to a wide demographic, regardless of their socioeconomic background. Advanced technologies such as augmented reality, virtual reality, cloud computing, and the upcoming rollout of 5G are poised to further revolutionize mobile gaming experiences. Smartphone ownership in the Middle East and the consequent expansion of mobile gaming reflect global trends toward more streamlined and private gaming solutions.
Saudi Arabia at the forefront of the game
Saudi Arabia is channeling considerable resources into diversifying its economy with an emphasis on digital transformation. The Vision 2030 initiative by the Saudi government underscores this shift, aiming to amplify the country’s gaming market size to USD 2.5 billion by 2030. Substantial investments in VR gaming and a burgeoning gaming culture underpin the nation’s mounting gaming industry stature. Furthermore, Saudi Arabia has shown pivotal initiative during the COVID-19 crisis by orchestrating charity e-sports events to foster community and philanthropy.
The Middle East Gaming Industry exhibits a moderately fragmented competitive landscape, comprising major international and regional players. Strategic corporate maneuvers, such as partnerships and acquisitions, signify the dynamic nature of the market as corporations adapt to the evolving consumer demand and technological advancements.
Intriguing developments such as new game releases and content updates in services like Apple Arcade signal a robust momentum within the sector.
Governmental endorsements, as evidenced by Saudi Arabia’s approval of Microsoft’s acquisition of Activision Blizzard, mark a regulatory environment conducive to growth and expansion.
Indeed, the gaming market in the Middle East is on the threshold of an era of transformation, with the influx of disruptive technologies and a young, tech-savvy population in a position to embrace the virtual revolution. The region’s gaming industry is a beacon of expansion. and innovation, with far-reaching implications and opportunities for stakeholders around the world.
Highlights and long-term prospects:
Substantial CAGR of 11.01% projected from 2023 to 2028
Increasing AR and VR Technologies to Drive Market Share
Notable Government Initiatives to Boost Digital Entertainment Offerings
Increased accessibility of mobile gaming, driving market expansion
Advancements in telecommunications play a pivotal role in the expansion of the market.
The findings detailed in the report highlight the prospects of the Middle East gaming market as a leader in virtual entertainment, paving the way for more inventions and energy in the coming years. Thorough research provides in-depth insight into existing trends in the market. expansion drivers and forecasts in preparation for the expected expansion trajectory of the regional market through 2028.
A variety of corporations analyzed in this report include
Sony Corporation
Microsoft Corporation
Apple Inc.
Google LLC (Alphabet Inc. )
Electronic Arts Inc.
NetEase Inc.
For more data on this report, https://www. researchandmarkets. com/r/2jeopg
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Smartphone Subscriptions in the Middle East Gaming Market, GCC Countries 2021 2028
Middle East Gaming Market Share in Mobile Internet Traffic in Saudi Arabia and Other Countries in Percent 2022