The video gaming industry in Egypt, South Africa, and Nigeria is on track to achieve a collective value of $2 billion by the end of 2023. Egypt is taking the lead with projected revenue of $983.8 million, followed closely by South Africa at $558.4 million and Nigeria at $483.4 million.
This collective value covers a wide range of products in the video games market, including console games, PC games, mobile games, and online games, as well as related hardware and accessories like gaming consoles, controllers, and virtual reality headsets.
Breaking down the revenue projections for each country, Egypt’s video games market is expected to reach $983.8 million in 2023, with an annual growth rate (CAGR 2023-2027) of 8.85%. Notably, mobile games are the dominant segment in Egypt, accounting for $665.4 million in market volume in 2023.
In South Africa, video game market revenue is projected to reach $558.4 million in 2023, with an expected annual growth rate (CAGR 2023-2027) of 7.51%. The most substantial market segment in South Africa is mobile games, contributing $179.40 million in 2023.
Meanwhile, Nigeria’s video games market is forecasted to achieve a record revenue of $483.4 million in 2023, with an annual growth rate (CAGR 2023-2027) of 9.03%. The largest market segment in Nigeria is downloaded games, with a market volume of $219.7 million in 2023.
Globally, the video gaming industry is poised to reach an estimated $334 billion by the end of the year, with mobile gaming leading the way in revenu