{"id":18025,"date":"2022-01-25T08:30:33","date_gmt":"2022-01-25T08:30:33","guid":{"rendered":"https:\/\/web3unplugged.io\/blog\/?p=18025"},"modified":"2022-01-25T08:30:34","modified_gmt":"2022-01-25T08:30:34","slug":"gaming-consumption-in-saudi-arabia-projected-to-reach-usd-6-8-billion-by-2030","status":"publish","type":"post","link":"https:\/\/web3unplugged.io\/blog\/gaming-consumption-in-saudi-arabia-projected-to-reach-usd-6-8-billion-by-2030\/","title":{"rendered":"Gaming Consumption In Saudi Arabia Projected To Reach USD 6.8 Billion By 2030"},"content":{"rendered":"\n

With substantial revenue potential, high-quality jobs creation, various reputational benefits, and approximately three billion active participants, the gaming and esports industry is sure to provide rich opportunities for players and governments alike over the coming decade \u2013 with Saudi Arabia poised to take a leading role on the global stage.<\/p>\n\n\n\n

The report by Boston Consulting Group<\/a> (BCG)titled \u2018Gaming & Esports: Media\u2019s Next Paradigm SHIFT<\/em><\/a>,\u2019 reveals that should gaming and esports\u2019 popularity continue increasing at its current trajectory, overall consumption in Saudi Arabia is expected to reach USD 6.8 billion by 2030 at an average compound annual growth rate (CAGR) of 22% \u2013 up from USD 959 million in 2020.<\/p>\n\n\n\n

As per the report\u2019s findings, the Kingdom is currently home to 23.5 million gaming enthusiasts, equivalent to 67% of the national population. Moreover, 90% of this segment \u2013 21.1 million \u2013already play esports titles on a semi-pro or amateur basis, with ~100 professional esports players pursuing fulltime careers. Given the growth potential of the Kingdom\u2019s gaming and esports community, the coming period represents an advantageous opportunity to ensure related benefits are fully capitalized upon in due course.<\/p>\n\n\n\n

\u201cFrom a Saudi standpoint, these growth projections undoubtedly bode well for the local gaming and esports community,\u201d explained Povilas Joniskis, Partner, BCG. \u201cDespite the Kingdom being a relatively recent entrant to this space, the industry is vibrant and fast-growing, nevertheless. Passionate gamers are primarily powering its growth and popularity at present, and it is more than feasible for them to embark on full-time careers and become involved on the international stage. Yet first, key barriers concerning aspiring Saudi competitors and professionals must be overcome.\u201d<\/p>\n\n\n\n

While there is much potential in the Saudi gaming and esports industry today, challenges also await due to the landscape being in an early development stage compared to other international markets, namely a lack of funding to compete full-time, scarcity of local competition, no clear pathway for gamers to become professional, and social stigma associated with choosing a career in gaming and esports.<\/p>\n\n\n\n

As such, the Kingdom\u2019s leadership now has an opportunity to capitalize on the widespread passion for gaming and translate the current high level of consumption intensity to a corresponding production intensity. Already positioned to be a key enabler of ecosystem growth for the industry, the report details the reasons for why the government should support the industry.<\/p>\n\n\n\n