The Southeast Asian gaming market will earn $8.3 billion in 2023
There is a fresh forecast about the development of the Southeast Asian market. Research and Markets experts estimate that in four years, the turnover of this video game market will increase by 65% and reach $8.3 billion. We are talking exclusively about revenue from games for PC and mobile devices.
Southeast Asia
Marketers include seven countries in the region: Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, as well as Taipei belonging to China (China itself is not included in the mentioned region).
From the point of view of researchers, the region is considered promising. There are a lot of active gamers here, esports and streaming are widely popular, the cost of attracting users is relatively low, English is widespread, and, very importantly, there are no such difficulties with entering the markets as in China.
However, there are enough pitfalls. In a number of countries from the list, the gaming market is tightly regulated. For example, in Vietnam, to launch a game, you need to get a license from the Ministry of Information and Communications. This is possible only in one case: if the company has a local partner.
In general, in the next five years, the Southeast Asian market will become, according to analysts, much more interesting due to two key factors: the improvement of Internet infrastructure (the launch of 5G is planned in most countries of the region) and the growth of salaries, which now leave much to be desired. By the way, this is primarily due to the low cost of UA.
Facts and figures
- by the end of 2019, revenue from the PC and mobile games market here will amount to $ 5 billion. In 2023, it will grow to $8.5 billion (65% growth);
- Now there are about 500 million smartphone users in Southeast Asia. By 2023, their number will grow to 628 million;
- 40% of smartphone users in the region play mobile games. By 2023, the total number of gamers here will be 320 million;
- Internet penetration in the region is 77%. It is assumed that in four years it will reach 99%;
- 90% of mobile gamers in Southeast Asia play esports titles;
- The key player in the market is Singapore Garena, she is the “daughter” of Sea Limited Holding. Almost 40% of Sea Limited is owned by Tencent. The main project of Garena is a mobile battle royale Free Fire. The game’s revenue recently reached the $1 billion mark.
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