Metaverse Gaming - South Africa | Statista Market Forecast

The projected value of the Metaverse Gaming market in 2024 is expected to reach US$101.6m South_African Rand.
It is estimated that the market will experience an annual growth rate of 43.69% from 2024 to 2030, resulting in a projected market volume of US$894.2m South_African Rand by 2030.
In 2024, the market volume is expected to be US$7.5bn South_African Rand, with the majority of value being generated United States.
The number of users in the Metaverse Gaming market is projected to reach 11.7m users by 2030.
The user penetration rate is expected to be 5.8% in 2024 and is projected to increase to 18.1% by 2030.
The average value per user (ARPU) is estimated to be US$28.6 South_African Rand.
In South Africa, the Metaverse gaming market is experiencing rapid growth driven by a strong demand for immersive virtual reality experiences.

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 South Africa has been experiencing significant growth in recent years, driven by customer preferences for immersive gaming experiences and the increasing availability of high-speed internet connections.

Customer preferences: South African gamers have shown a strong preference for immersive gaming experiences that allow them to interact with virtual worlds and other players in real-time. This has fueled the demand for metaverse gaming, which offers a virtual environment where users can explore, socialize, and compete with others. The ability to customize avatars and participate in virtual economies has also been a key factor driving customer interest in the metaverse gaming market.

Trends in the market: One of the key trends in the South African metaverse gaming market is the rise of virtual reality (VR) gaming. VR headsets have become more affordable and accessible, allowing a larger number of gamers to experience the immersive nature of metaverse gaming. This has led to an increase in the number of VR-compatible games and platforms available in the market. Another trend is the integration of blockchain technology into metaverse gaming. Blockchain allows for secure and transparent transactions within virtual economies, enabling gamers to buy, sell, and trade virtual assets with confidence. This has created new opportunities for South African gamers to monetize their gaming skills and assets, further driving the growth of the metaverse gaming market.

Local special circumstances: South Africa has a growing gaming community, with a large number of gamers actively participating in online gaming communities and competitions. The country also has a relatively young population, with a high percentage of tech-savvy individuals who are eager to embrace new technologies and gaming experiences. These factors have contributed to the growth of the metaverse gaming market in South Africa.

Underlying macroeconomic factors: The increasing availability of high-speed internet connections in South Africa has been a key driver of the metaverse gaming market. As more households gain access to reliable internet, gamers are able to participate in online gaming communities and access metaverse gaming platforms with ease. Additionally, the growing smartphone penetration in the country has allowed gamers to access metaverse gaming experiences on the go, further expanding the market. In conclusion, the metaverse gaming market in South Africa is experiencing significant growth due to customer preferences for immersive gaming experiences, the rise of virtual reality gaming, the integration of blockchain technology, the presence of a vibrant gaming community, and the increasing availability of high-speed internet connections. These factors are expected to continue driving the growth of the metaverse gaming market in South Africa in the coming years.

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.