The Saudi electronic games market is rapidly expanding. The revenues are estimated to reach 3.75 billion riyals in 2023 and 10 billion riyals by 2026.
The Saudi government encourages the expansion of the electronic games sector. It published a sector development strategy in 2022 to establish Saudi Arabia as a global hub for electronic games.
The strategy is to establish an organisation that assists enterprises in growing and expanding the electronic gaming sector. Along with providing financial and logistical assistance to firms, as well as organising electronic sports contests and events.
Saudi Numbers
In Saudi Arabia, there are currently over 23.5 million video game enthusiasts. They make up over 67% of the country’s total population, according to data from the Saudi Electronic Sports Federation.
Over a hundred professional players compete in both local and international events in Saudi Arabia. In recent years, they have achieved several notable triumphs in electronic gaming on a worldwide scale.
The most well-known of them was Musaed Al Dossary, who was in the FIFA Games of 2017 and 2018. He won the World Electronic Games Championship twice in succession. In the final match, the Saudi squad defeated the Chinese squad in three rounds as opposed to two rounds. It earned the title of global champion in the video game “Overwatch.”
A research by Itmam Consultancy Company estimates that the Saudi Arabian market for electronic games will grow to reach a value of 9.3 billion riyals by 2030, from an anticipated 3.7 billion riyals in 2023.
Special Union
The amazing video gaming love of Saudis led the Saudi government to form the Saudi Esports Federation, which hosted several domestic and international competitions and events and drew substantial funding from the country’s commercial sector.
Apart from collaborating with global developers to provide regional content, an agreement was inked to collaborate with Japanese firm Bandai Namco Holding Inc. on Arabizing video games.
In addition, the Saudi Electronic League was established in 2022. Since then, it has arranged professional tournaments featuring the fiercest games between the biggest sports teams. These tournaments include the Saudi Electronic League, FIFA, Rocket League, Overwatch, Rainbow 6 Siege, and Call of Duty Vanguard.
There were around 55 tournaments in the leagues, with a possible five million riyal prize fund. At the same time, there were 50 teams taking part, with over 400 participants, and only 40 of them ultimately emerged victorious.
High-Quality Investment
Through the “Savi Games Group,” a division of the Saudi Public Investment Fund, Saudi Arabia has spent over 142 billion riyals in the electronic gaming industry to become an electronic sports hub by 2030.
The firm plans to invest around 50 billion riyals in developing and acquiring one of the top electronic gaming platforms, and another 70 billion riyals in purchasing stock in other gaming companies.
Additionally, there will be an investment of two billion riyals in several new games and e-sports-related businesses. Twenty billion riyals will go to the best gaming corporations.
Global Figures
According to the Newzoo Foundation’s 2018 assessment on the gaming industry, Saudi Arabia ranked 19th in the world in terms of revenue among the main electronic gaming markets. This made it the only Arab nation in the top twenty.
The Kingdom has made 761 million dollars from the sale of electronic games. China led the list with worldwide gaming industry sales of almost 38 billion dollars. The US came in second with $30.4 billion, followed by Japan (19.2 billion), South Korea (5.6 billion), Germany (4.6 billion), and South Korea (5.6 billion).
Electronic games have grown to become one of the largest, fastest-growing, and most influential businesses in the global economy as a result of considerable advancements in the industry, severe competition among major corporations, and the amount of investment in this market.
According to Statista, the global video game market appears to be worth 957 billion riyals in 2023. It forecasts to total of 1,199 billion riyals by 2026.
In 2026, smartphone games will account for 907 billion riyals of the 1.199 trillion riyals in income from electronic gaming.
The remaining monies will come from home appliance games (118 billion riyals), personal computer games (157 billion riyals), and interactive advertisements within applications (17.6 billion riyals).
You can also read about Saudi Arabia is at the Top of the Digital Sector Globally
