Middle East Leisure & Entertainment Software Services

Middle East Leisure & Entertainment Software Services

The Leisure & Entertainment Software Services Market refers to the industry that provides software and services related to leisure and entertainment, such as video games, music, movies, and other forms of digital media. This market includes companies that develop, publish, and distribute software for various devices such as personal computers, gaming consoles, mobile phones, and tablets.

The Middle East Leisure & Entertainment Software Services Market was valued at 3.5 billion in 2022 and is expected to grow at a steady rate of around 17.5% in the forecasted period (2023-2030) owing to the increasing popularity of digital media and the widespread availability of high-speed internet access. Leading governments in the Middle East region have provided substantial financial and institutional support to their entertainment industries, recognizing them as crucial for economic diversification, job creation, and cultural enrichment. To compete with global entertainment hubs and reach a higher level of growth, the industry must transition from a government-led approach to a private sector-led approach. Governments played a vital role in this transition by shifting their focus from financing projects to nurturing the ecosystem through capacity-building initiatives, incentives, and business climate reforms, as well as by encouraging regional collaboration to help the entertainment industry become a driver of economic and social progress.

• Based on the software types, the market is segmented into gaming, entertainment, VR & AR, social media & networking, and others. Among these, the gaming segment is leading the maximum share of the market because the gaming industry has witnessed substantial technological advancements, offering immersive experiences that attract a wide audience. Furthermore, the rise of e-sports has boosted the competitive gaming scene, further driving growth. The ongoing demand for new and innovative gaming content, along with the potential for in-game monetization, makes it a lucrative and dominant sector within the market.
• Based on industry, the market is segmented into television, software, internet, film & video, music, sports, and others. Among them, the television segment is likely to have a significant impact on the market due to its enduring popularity and evolving digital landscape. With the proliferation of streaming platforms and interactive content, television has seamlessly integrated with software services, creating a dynamic ecosystem for entertainment consumption. Viewers can now access on-demand content, interactive apps, and gaming experiences directly through their smart TVs. This convergence of television and software services has opened up new avenues for content delivery, advertising, and audience engagement, making it a pivotal driver of innovation and growth in the market. For instance, The Middle East is expected to have a rise in the number of screens from 2,100 in 2021 to 3,100 by the end of 2024, with the greatest number of additional screens coming from Saudi Arabia.
• For a better understanding of the market adoption of leisure & entertainment software services, the market is analyzed based on its presence in countries such as the Middle East (UAE, Egypt, Saudi Arabia, Kuwait, and the Rest of MENA). Saudi Arabia is estimated to hold the maximum share of the market. Saudi Arabia's leisure & entertainment software services market is leading in the Middle East region due to a combination of factors such as high disposable income, a growing tourism industry, strong government support, cultural diversity, and the increasing availability of internet and mobile devices. Also, the leisure & entertainment software services market in Saudi Arabia is poised for further growth in the coming years due to a combination of factors, including increasing urbanization, growing demand for e-commerce, focus on youth, growing demand for digital content, and government initiatives. For instance, Saudi Arabia's Vision 2030 includes specific plans and investments to support the growth of the entertainment sector, with the goal of contributing more than 3% of the country's GDP by 2030 and creating more than 100,000 jobs.
• Some of the major players operating in the market include Electronic Arts Inc.; Blizzard Entertainment, Inc.; Netflix; Spotify AB; Disney.; Sony Interactive Entertainment Inc.; Ubisoft Entertainment.; Warner Media, LLC; Nintendo.; Comcast.