The entertainment, specifically the media industry, in South Africa has sky rocketed over the past half a decade. In fact surprisingly, according to a study by PricewaterhouseCooper, South Africa’s video game sector has experienced the biggest boom.
This can largely be attributed to the wide reach of the internet as a consequence of globalization. The rampant growth in internet accessibility as well as new technology is mostly taken advantage of by the younger generation.
The demand for technology that is flexible and adapts to the needs of the user is often considered as the catalyst of this growth, as people become more intrigued by the multitude of applications.
Spending on video games, both in the physical and mobile format has been on the rise and is the fastest growing segment in the South African media market, forecast to be worth 3.6 Billion Rands in the following 3 years.
Comparably, if economic conditions persist, the gaming industry in South Africa is set to grow at an annual rate of 10% compared to the 4% annual growth rate of the television industry.
This is further confirmed based on the fact that the value of the mobile gaming industry alone is at 858 million Rand and is expected to double within the time span for a few years, accounting for close to 40% of the entire gaming market.
With the continual growth of the South African mobile and non-mobile gaming industry new job opportunities will follow, providing South African’s with the possibility of first adhering to their own markets and then later of branching out to the other 55 countries on the continent.