Video Game Devices
It is striking that the size of the video game hardware market is one of the most stable, what is the size of this market and what are the opportunities for future growth?
And what is the size of the market for gaming devices used in entertainment and event centers?
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The Saudi video game hardware market fell to $118 million in 2021, down -9.1% from 2020. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ profit margins, which are in the final price).
Video game hardware consumption increased by 6 .2% to 597 thousand units in 2021. Overall, consumption still indicates a relatively consistent trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 8.3%. Consumption reached a maximum of 684 thousand units in 2014.
Due to declining demand for video game devices in the Kingdom, its market is expected to continue to decline over the next decade. The market’s performance is expected to shrink at a projected CAGR of -5.9% for 2021 to 2030, as mobile gaming begins with a higher market share and is expected to increase in the future.
We also noted that the market for games used in centers and event areas rose from 2020 to $296.7 million. The market is expected to continue an upward trend over the next decade with a CAGR of + 4.7%, which is expected to reach 2.3 million units by the end of 2030.