By Sagar V. Mankar The African gaming market is set to reach $2.14 billion by the end of 2024, as per reports from Mordor Intelligence.
Analysts forecast an even brighter future, with the market expected to soar to $3.72 billion by 2029, marking a strong annual growth rate of 11.62%.
What’s driving this remarkable growth?
Analysts point to a powerful combination of demographic and technological advancements as the primary catalysts.
Demographically, Africa’s youth population is expanding rapidly. United Nations data projects a 50% increase in the 0–24 age group by 2050, setting Africa up to become the world’s largest youth market in the coming decade.
On the technology front, mobile connectivity is growing swiftly. In Sub-Saharan Africa alone, unique mobile subscribers are anticipated to approach 700 million by 2030, with Nigeria and Ethiopia expected to account for nearly one-third of these users.
By 2025, Sub-Saharan Africa is predicted to have 475 million mobile connections, with over a quarter of these operating on 4G networks.
Nigeria: A Case Study in Gaming Growth
Nigeria’s gaming market provides valuable insight into the continent’s broader gaming potential. With a large youth population, increasing internet access, and more affordable internet-enabled devices, Nigeria has seen extensive gaming adoption.
Affordable smartphones and tablets have made mobile gaming highly accessible, allowing people from diverse backgrounds to engage in gaming activities.
However, challenges like piracy, regulatory changes, and potential fraud issues during gaming transactions pose risks to the market’s growth. These issues may slow down the pace of expansion if not addressed.
Additionally, while the overall outlook for the African gaming market is positive, regional disparities remain. Africa’s 55 countries each have unique social, political, and economic landscapes, which may affect gaming industry growth unevenly across the continent.
For more insights on the African gaming market, see Mordor Intelligence’s full report.