Key regions: China, United States, Asia, Germany, France
The eSports market in Saudi Arabia is experiencing steady growth, driven by factors such as increasing sponsorships and media rights, growing merchandise and ticketing sales, and the convenience of online streaming services. The average growth rate is impacted by the increasing awareness and popularity of eSports in the region, as well as the emerging trend of eSports betting.
Customer preferences: With the rise of popularity in eSports, there has been a noticeable increase in demand for virtual gaming experiences and live streaming events. This trend is driven by the younger generation's preference for online entertainment and the growing accessibility of high-speed internet. Additionally, the emergence of localized eSports teams and tournaments has sparked a sense of national pride among Saudi Arabian consumers, further fueling the growth of the market. As a result, there has been a shift towards digital and online gaming platforms, with a growing preference for virtual experiences over traditional in-person events.
Trends in the market: In Saudi Arabia, the eSports market is experiencing a surge in popularity, with more and more tournaments being organized and sponsored by major companies. This trend is expected to continue as the country's government has recognized eSports as a legitimate sport and is investing in infrastructure and training programs. This development is significant as it not only promotes the growth of the industry but also provides opportunities for local talent to compete on a global level. Additionally, the rise of eSports in Saudi Arabia has also led to the emergence of a new market for gaming accessories and merchandise, presenting potential business opportunities for industry stakeholders.
Local special circumstances: In Saudi Arabia, the eSports market is rapidly growing due to the high internet penetration rate and the country's young population with a strong interest in gaming. The government's Vision 2030 initiative, which promotes the development of the country's digital infrastructure, has also played a major role in the growth of the eSports industry. Additionally, the strict regulations on traditional forms of entertainment, such as cinemas and concerts, have led to a surge in demand for eSports events and tournaments as a form of entertainment for the youth.
Underlying macroeconomic factors: The eSports market in Saudi Arabia is heavily influenced by macroeconomic factors such as the country's overall economic health, government policies, and global trends. With a growing young population and a strong focus on technology and innovation, Saudi Arabia has a favorable environment for the development of the eSports market. Additionally, the government's initiatives to diversify the economy and reduce its reliance on oil have led to increased investments in the technology sector, providing a boost to the eSports industry. Moreover, the country's increasing disposable income and high internet penetration rate also contribute to the growth of the eSports market in Saudi Arabia. These factors create a conducive environment for the market to thrive and continue its upward trajectory.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Esports market, which comprises revenues from and users of professional competitive gaming content. This includes any professional and semiprofessional gaming competitions within tournaments or leagues that offer a championship title or prize money. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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