Metaverse Gaming - Saudi Arabia | Statista Market Forecast

The projected value of the Metaverse Gaming market in 2024 is estimated to reach US$103.3m.
This market is expected to experience a steady annual growth rate of 43.55% from 2024 to 2030, resulting in a projected market volume of US$903.6m by 2030.
It is worth noting that United States accounts for the majority of the market, with a projected market volume of US$7.5bn in 2024.
In terms of user base, the number of users in the Metaverse Gaming market is expected to reach 8.2m users by 2030.
The user penetration rate, which measures the percentage of the population using Metaverse Gaming market, is projected to be 6.7% in 2024 and is expected to increase to 20.2% by 2030.
Furthermore, the average value per user (ARPU) is anticipated to be US$41.4.
This metric reflects the average amount of money spent by each user in the Metaverse Gaming market.
It is worth highlighting that these projections and figures are specific to the global Metaverse Gaming market and do not solely pertain to in Saudi Arabia.
However, it is important to consider Saudi Arabia's potential role and contribution to this market segment.
Saudi Arabia is experiencing a surge in the adoption of Metaverse gaming, driven by the country's tech-savvy youth population and increasing investments in virtual reality technology.

Definition:

The Gaming market refers to the playing of video games or other interactive experiences within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. This definition includes traditional single-player and multiplayer games as well as more open-ended virtual worlds, where players can interact with each other and the environment in a variety of ways. Gaming in the metaverse can be experienced through different hardware, such as VR headsets, smartphones, and computers, and can also include new forms of gaming such as social gaming, multiplayer gaming, and location-based gaming.

Structure:

The Gaming market includes the markets Action Games, Adventure Games, Casual Games, Role-playing Games, Simulation Games, Sports & Racing Games and Strategy Games. Each genre has different games published that are classified as metaverse games in respective metaverse applications, or individual games.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on apps, games, and items. Market numbers about the Gaming market can also be found in the Digital Market Insights. Key players in the market are games like Fortnite, Roblox or Minecraft. Use the info button right next to the boxes for more information on the data displayed.

Games directly in metaverse considered apps, such as games in Roblox
Open-world games, shaped by users, such as Fortnite
Sandbox games, such as Minecraft
Social virtual reality games, such as VRChat

Open-world games, with a story line, such as World of Warcraft
All other non related metaverse games, such as Call of Duty
Non-metaverse related browser games, such as Forge of Empires

The Metaverse Gaming market in Saudi Arabia is experiencing rapid growth and development, driven by the increasing popularity of virtual reality (VR) technology and the growing demand for immersive gaming experiences.

Customer preferences: Saudi Arabian gamers are increasingly seeking more immersive and interactive gaming experiences, which has led to the rise in popularity of the Metaverse Gaming market. The younger generation, in particular, is highly interested in exploring virtual worlds and engaging in social interactions within these digital environments. Additionally, the convenience and accessibility of online gaming platforms have also contributed to the growing demand for Metaverse Gaming in Saudi Arabia.

Trends in the market: One of the key trends in the Metaverse Gaming market in Saudi Arabia is the integration of virtual reality technology. VR headsets and devices are becoming more affordable and accessible, allowing gamers to fully immerse themselves in virtual worlds. This trend is driving the development of advanced gaming experiences that offer realistic graphics, interactive gameplay, and social interactions. Another trend in the market is the increasing adoption of blockchain technology. Blockchain-based platforms and cryptocurrencies are being used to create decentralized virtual economies within the Metaverse Gaming market. This allows gamers to own and trade virtual assets, such as in-game items and digital currencies, providing a new level of ownership and value to the gaming experience.

Local special circumstances: Saudi Arabia has a young and tech-savvy population, with a high percentage of internet users and smartphone penetration. This tech-savviness, combined with the country's strong gaming culture, has created a favorable environment for the growth of the Metaverse Gaming market. Additionally, the government of Saudi Arabia has been actively promoting the development of the technology sector, including virtual reality and gaming, as part of its Vision 2030 plan. This has further contributed to the rapid development of the Metaverse Gaming market in the country.

Underlying macroeconomic factors: The strong economic growth and increasing disposable income in Saudi Arabia have played a significant role in the development of the Metaverse Gaming market. As people have more money to spend on leisure activities, the demand for immersive gaming experiences has increased. Additionally, the COVID-19 pandemic has also accelerated the growth of the Metaverse Gaming market, as people turned to online entertainment options while staying at home. In conclusion, the Metaverse Gaming market in Saudi Arabia is experiencing significant growth and development due to the increasing demand for immersive gaming experiences, the integration of virtual reality technology, and the adoption of blockchain technology. The country's young and tech-savvy population, along with favorable government policies and strong economic growth, have created a conducive environment for the expansion of the Metaverse Gaming market in Saudi Arabia.

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

For everybody who spends a lot of time in digital worlds – for example via gaming and socializing in-game – the concept of the metaverse, a virtual world where physical and digital worlds come together, is nothing new. In-game hangouts in massively multiplayer online games (MMO) and other multiplayer games have been a vital part of the gaming community for years, and the activity received a boost during the COVID-19 pandemic when people turned to online worlds to connect with each other. Overall, these online game hangouts are an important step along the journey to metaverse gaming.