Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen South China Wu Yanzu for the clue delivery! CTOnews.com July 16 news, data agency Newzoo recently told CNBC that the game industry in sub-Saharan Africa is expected to generate more than 1 billion US dollars in revenue for the first time in 2024 (CTOnews.com Note: currently about 7.15 billion yuan).

According to the World Bank, economic growth in sub-Saharan Africa fell from 4.1% in 2021 to 3.6% in 2022 and is expected to fall further to 3.1% in 2023.

Despite this, Africa's video game market has been doing well. In 2022, the region's gaming market revenue was $862.8 million (currently about 6.169 billion yuan), up 8.7 percent year-on-year, according to Newzoo. By contrast, global game market revenue in 2022 was $182.9 billion (currently about RMB1.31 trillion), down 5.1% year-on-year.

Cordel Robbin-Coker, CEO of Cape Town, South Africa-based Carry1st, said the most notable of these figures is "the potential long-term growth of the sub-Saharan African gaming market." He stressed that this region has the fastest population growth in the world, the number of users accessing the Internet for the first time has increased significantly, most of which (more than 90%) is through mobile phones, and people's demand for content is very strong.

Konvoy, a venture capital firm focused on gaming-related investments, said it expects the African gaming industry to grow 15.7 percent in 2023 and 13.6 percent in 2024, up from previous forecasts of 9.23 percent and 8.95 percent growth.

Jackson Vaughan, Managing Partner at Konvoy, said: "The data for the African continent's gaming market is encouraging, with long-term trends in population, internet penetration and smartphone coverage depicting incredible growth in the gaming market on the continent. "

In particular, the popularity of smartphones has boosted gaming prospects in Africa. The region has a higher-than-average young population, which also means digital technology will be strongly embraced by more younger generations of Africans.

According to mobile industry body GSMA, 87 percent of the population in Sub-Saharan Africa will own a smartphone by 2030, up from 51 percent in 2022.

In Africa, much of the growth in gaming has been driven by the popularity of smartphones. Mobile gaming revenue in the region was $778.6 million in 2022 (currently about 5.567 billion yuan), accounting for about 90 percent of total game sales, according to Newzoo.

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