The Middle East and North Africa (MENA) and Asia games market experienced a 4.6% increase year-on-year, reaching $85.5 billion in 2023, and is projected to rise to $97.1 billion by 2028.
The study, conducted by Niko Partners (via GamesIndustry.biz), includes China, India, East Asia (Japan and Korea), Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) and MENA markets.
See Also: Mobile Games Captured $90.4B, 49% Of Global Market In 2023
Notably, India is expected to surpass China with 277 million players by 2028, contributing to 72% of the region’s growth during this period. The report highlights the Asia and MENA regions accounted for 58% of global player spending on mobile games and 50% on PC games in 2023.
The player base in the Asia and MENA market is anticipated to expand from 1.6 billion in 2023 to nearly two billion by 2028. Additionally, Asia’s average gaming hours per week have increased by 36.2% year-on-year.
See Also: 37% Of Asian Gamers Are Women, Growth Rate Hits 11%
“Asia and MENA remain critical in the global games market,” said Lisa Hanson, CEO of Niko Partners. Hanson attributed the growth in these regions to factors such as localization, increased participation by female gamers, government support for esports, growth of out-of-app monetization of mobile games, and rising spending power.
Hanson added: “To gain meaningful access, companies must get to know the local market realities and clearly understand the context behind the data they use for their strategic planning.”
Read Next: US Gaming Market: April Sees 3% Spending Drop, Software Soars Despite Hardware Plunge
Photo: aslysun on Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
