Sophie Blake
The video game industry across Asia and the Middle East and North Africa (MENA) is on a steady growth trajectory, with player spending reaching $86.6 billion in 2024, according to a joint analysis from Niko Partners’ latest regional market model reports. Revenue is forecast to grow at a compound annual growth rate (CAGR) of 2.1%, hitting $96 billion by 2029, a figure that places the region on course to surpass nearly half of global games market revenue.
In 2024, 13 countries tracked in Asia and MENA accounted for 46.4% of the global games market, driven by more than 1.65 billion gamers across PC, mobile, and console platforms. Though mature markets like China, Japan, and South Korea will continue to generate 88.7% of regional revenue through 2029, the most dynamic growth is coming from emerging economies.
India leads the surge, expected to add 250 million new gamers in five years, reaching a total of 724 million by 2029. Thailand, the fastest-growing gaming market in Southeast Asia, is projected to hit $2.4 billion in player spending. In the MENA region, countries like Saudi Arabia, the UAE, and Egypt are benefiting from aggressive government investments and the rapid expansion of esports ecosystems. Notably, ARPU (Average Revenue Per User) in the UAE is expected to exceed $100 by the end of the forecast period.
Other Gulf states such as Qatar are also building gaming infrastructure, contributing to what is shaping up to be a more robust and diversified regional ecosystem.
One of the key demographic trends reshaping the industry is the growing participation of women. Female gamers now represent over 37% in the MENA-3 markets (Saudi Arabia, UAE, Egypt) and 40% in India, marking a significant departure from the traditionally male-dominated gaming demographic in these regions.
In total, the number of gamers in Asia and MENA is projected to reach 2 billion by 2029, surpassing the combined total of all other regions globally.
These new users, many of whom are entering the market with improved digital access, higher disposable income, and support for local payment methods, represent a new cohort of paying players. Game companies are adjusting their strategies accordingly — balancing high-spending segments in mature East Asian markets while scaling operations and product offerings in growth regions like India, Southeast Asia, and the Gulf states.
Hardware and platform strategies are also shifting. The upcoming release of Nintendo’s Switch 2 in June 2025 could provide a boost to historically underserved markets in MENA and Southeast Asia, building on existing console interest from China and East Asia.
Simultaneously, cross-platform gameplay is becoming more critical. In East Asia, dual-platform play between mobile and PC is increasingly common, while in India and other developing regions, players aspire to access AAA titles via affordable and accessible platforms, making cross-platform support an important gateway to premium gaming experiences.
Publishers are also leaning into direct-to-consumer strategies, leveraging community-building through monetization of digital items, real-world esports events, and brand tie-ins like concerts and festivals — all of which are gaining popularity among regional players.
While overall growth in 2024 was slower than in 2023, analysts stress this reflects market stabilization rather than saturation. The key trends — rising female participation, the emergence of a newly monetized player base, and growing esports interest — point to long-term structural opportunities.
Game companies are now deploying dual-track strategies: capturing high ARPU segments in developed markets while investing in emerging economies to build broader, more diverse user bases. With the combined market expected to approach $100 billion by 2029, Asia and MENA are now positioned not just as regional players, but as global leaders in the next phase of industry growth.
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