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Gaming Hardware - Saudi Arabia

Saudi Arabia

Revenue in the Gaming Hardware market is projected to reach US$1,090.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.17%, resulting in a projected market volume of US$1,614.00m by 2029.
In the Gaming Hardware market, the number of users is expected to amount to 1.2m users by 2029.
User penetration will be 2.7% in 2024 and is expected to hit 2.9% by 2029.
The average revenue per user (ARPU) is expected to amount to US$1.07k.
In global comparison, most revenue will be generated in China (US$33,310.00m in 2024).

Key regions: United States, Japan, United Kingdom, South Korea, India

Market

Region

Region comparison

Currency

Analyst Opinion

The Gaming Hardware market in Saudi Arabia has been experiencing significant growth in recent years.

Customer preferences: Saudi Arabian gamers have shown a strong preference for high-performance gaming hardware. They value products that offer superior graphics, fast processing speeds, and immersive gaming experiences. Additionally, there is a growing demand for gaming peripherals such as gaming keyboards, mice, and headsets, as gamers seek to enhance their overall gaming experience. Saudi Arabian gamers also tend to favor well-known international gaming hardware brands, as they are often perceived as being of higher quality and reliability.

Trends in the market: One major trend in the Saudi Arabian Gaming Hardware market is the increasing popularity of eSports. eSports tournaments and events are gaining traction in the country, attracting a large number of participants and spectators. This has led to a surge in demand for gaming hardware, as gamers look to upgrade their equipment to gain a competitive edge. Additionally, the rise of streaming platforms and content creation has also contributed to the growth of the market, as gamers invest in high-quality hardware to produce professional-level content. Another trend in the market is the shift towards online gaming. With the increasing availability of high-speed internet connections in Saudi Arabia, more gamers are opting to play games online, either competitively or cooperatively with friends. This has led to a higher demand for gaming hardware that can support online gaming, such as gaming routers and high-speed internet connections.

Local special circumstances: Saudi Arabia has a large and youthful population, with a significant portion of the population being under the age of 30. This demographic is a key driver of the growth in the Gaming Hardware market, as young Saudis have a strong affinity for gaming and are willing to spend on high-quality gaming hardware. Additionally, the government has been actively supporting the development of the gaming industry in the country, which has further fueled the growth of the market.

Underlying macroeconomic factors: The Saudi Arabian economy has been diversifying away from oil in recent years, with a focus on developing the technology and entertainment sectors. This has created new opportunities for the Gaming Hardware market, as the government looks to attract foreign investment and develop a thriving technology ecosystem. Additionally, the increasing disposable income of Saudi Arabian consumers has also contributed to the growth of the market, as individuals have more money to spend on leisure activities such as gaming.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Gaming Hardware market, which includes various types of gaming devices such as consoles, gaming PCs and laptops, and peripherals. This market covers both online and offline sales of gaming hardware. All monetary figures refer to consumer spending on these hardware products and accessories. This spending considers any discounts, margins, and taxes.

Modeling approach / Market size:

The market size is determined through a comprehensive approach. We utilize data from annual financial reports of leading companies, industry associations, third-party studies and reports, primary research surveys (e.g., Consumer Insights), and performance metrics (e.g., user adoption rates, price points, usage patterns) to analyze the markets. To estimate the segment size for each country, we consider relevant key market indicators and data from country-specific industry associations. This includes macroeconomic indicators, historical trends, current market dynamics, and reported performance metrics of key industry players. Factors like average prices and purchase frequencies are considered.

Forecasts:

We apply diverse forecasting techniques tailored to the behavior of the specific market. For instance, methods like trend smoothing and adoption curve analysis are well-suited for forecasting trends in gaming hardware, considering the evolving nature of technology adoption. The main drivers influencing forecasts include economic indicators such as GDP per capita, consumer spending per capita, and technological advancements like 5G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated biannually to reflect any changes in market dynamics. The impact of external factors, such as the COVID-19 pandemic, is considered at the country-specific level. The text incorporates current exchange rates in its modeling. Additionally, any impacts from events like the Russia-Ukraine war or significant industry developments are considered on a country-specific basis. The market information is refreshed twice a year. In some instances, updates are made on an ad hoc basis, such as when new pertinent data is released or substantial shifts within the market impact projected trends. Consumer Insights data is reweighted to ensure representativeness.