Gaming industry revenues in MENAT grew 15% to $6.5bn in 2021; Report

By Shilpa Annie Joseph, Desk Reporter
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According to a new report from consultancy RedSeer, revenue in the gaming sector in the Middle East, North Africa, and Turkey (MENAT) increased 15 percent yearly to $6.5 billion in 2021, making it one of the highest in the world.

The Redseer report noted that these are expected to grow further as the sector continues to address dynamics and consumer preferences.

“The MENAT region, although accounting for only a small portion of the $176 billion overall global revenue, is primed to become the growth engine for the segment in the short to medium term, with the UAE and Saudi Arabia among the most attractive countries in the region,” the report said.

The content localization, investments in virtual reality gadgets and wearables, and the promotion and organization of eSports are just a few of the main activities that help the sector grow in the region.

“Companies have witnessed an increase in active and paying users, which may be attributed to both new users and those who had previously left and returned to these platforms. Furthermore, gaming platforms have enabled players to socialize and network with friends and co-workers from the comfort and security of their own homes,” Redseer stated.

The global gaming industry was one of the sectors that benefited from the COVID-19 pandemic as homebound users increasingly turned to the sport amid movement restrictions to stem the pandemic. The massive increase in users created a huge potential for publishers.

Further, the region’s potential was highlighted in the RedSeer report. “In 2019, total players from Mena exceeded those from North America, and by this year, Mena and Turkey will outnumber Europe in terms of players,” as per the reports.

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