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Report
Southeast Asia Gaming Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The Southeast Asian gaming market is expected to register a CAGR of 8.5% over the forecast period. The increasing popularity of various sports and growing investments in internet infrastructure are the primary factors that offer immense growth opportunities to the market.
Key Highlights
In 2022, the emergence of 5G technology is helping increase wireless network infrastructure investments. Therefore, the minimal latency of 5G may enable users to have a significantly more seamless cloud gaming experience.
Southeast Asian operators have announced partnerships worth USD 30 billion in 5G investment. In September 2021, the two major Indonesian operators, Ooredoo and CK Hutchinson, signed a USD 6 billion agreement for their respective telecommunications operations. Thailand's second-largest telco, True, announced a merger with DTAC, resulting in a USD 8.6 billion firm with around 51 million consumers.
The rising e-sports is also fuelling the games market in the region. E-sports is essentially a competition involving video games. With the rising viewership on online platforms, such as Twitch and YouTube, advertising is expected to generate more revenue during the forecast period.
Video games allow players to remain connected to friends and family through online multiplayer and group chats. They helped people occupy their time and stay connected with their friends and family in a fun way during the pandemic. Unlike other industries, Southeast Asian gaming is witnessing a spike in demand. The gaming industry is progressing based on influencer partnerships, in-app advertising, innovations, and gaming partnerships. The industry is expected to flourish further in the long run.
Southeast Asia Gaming Market Trends
Mobile Segment to Hold Significant Market Share
According to the All-Correct Games blog, in 2021, the number of mobile online gamers in Southeast Asia rose to around 250 million. Malaysia, Thailand, Vietnam, Indonesia, Singapore, and the Philippines are the six most significant countries for mobile gaming in Southeast Asia.
The availability of a free-to-play option is one of the significant drivers of mobile gaming compared to personal computers. The advent of cloud-based mobile gaming may further drive this growth.
Though e-sports is a relatively new concept in Southeast Asia compared to traditional games, it is growing exponentially due to the growth of the gaming market in the region.
Additionally, over 55% of mobile gamers are around 55 years of age, and only 8% are teenagers, mainly because of the popularity of hyper-casual and casual games, which do not require many skills and can be played by any user. Hypercasual games mostly monetize through advertising. However, the mobile gaming market is seasonal, meaning that the popularity of the games may soon fade away. Therefore, the demand for new games is difficult to forecast, restraining the market's growth.
On the other hand, the advent of cloud gaming has removed the constant need for hardware upgrades, and players worldwide can play cloud games on their existing devices and on future devices that may have low specs. The most significant opportunity for vendors in the segment is to access smartphone gamers who comprise a significant share of the gaming audience and prefer to play PC and console games on their mobile devices.
A Google survey revealed that at least one in three smartphone owners in Southeast Asia played mobile games at least once in seven days. Over 82% of Southeast Asia's urban online population are gamers, and mobile gaming leads by a substantial margin over PC and console games.
Increasing Internet Penetration to Boost the Market's Growth
The online gaming market witnessed impressive volumes due to increased internet penetration and the proliferation of low-cost smartphones among the urban and rural populations. This ecosystem is monetized through revenue streams, like in-app purchases, pay-per-download, subscription services, in-app advertisements, incentive-based advertisements, etc.
With the rising internet penetration, major technology vendors are investing in online gaming, driving the regional market's growth. For instance, in September, Amazon ramped up its expansion into the MMORPG (Multiplayer Online Role-Playing Game) gaming industry with the release of "New World." In February 2021, Google LLC shut its in-house Stadia game development studios to refocus it as a platform to provide games and game streaming services from existing developers.
According to Akamai Technologies, gaming software downloads account for large amounts of internet traffic when an update is released. The software update for a modern game generates enormous traffic, roughly equal to 30,000 web pages. Thus, multiple people in the same house who try to play an online match simultaneously can affect any home's internet bandwidth.
According to Ericsson Mobility Report 2021, by the end of 2027, there will be 4.4 billion 5G subscriptions worldwide, accounting for over half of all mobile subscriptions. By 2027, data traffic per smartphone in Southeast Asia and Oceania will expand at the highest rate globally, with 5G subscriptions estimated to reach 15 million by the end of 2021.
Mobile subscriptions in Southeast Asia and Oceania have surpassed 1.1 billion. By the end of 2021, 5G subscriptions were estimated to reach up to 15 million and continue to increase rapidly over the next few years, reaching around 560 million by 2027. Data traffic per smartphone may grow at the fastest rate in Southeast Asia and Oceania, reaching 46 GB per month in 2027, recording a 34% CAGR.
Southeast Asia Gaming Market Competitor Analysis
The Southeast Asian gaming market is highly competitive due to the presence of many small and large players. The market appears to be moderately concentrated, with the major players adopting strategies like product innovation, service innovation, mergers, and acquisitions to stay ahead of the competition and increase their reach.
In September 2022 - Playpark, an online game publisher, announced the newest mobile MMORPG, Dream of a New World, in Singapore, Indonesia, Malaysia, and the Philippines.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.5 Market Restraints
4.6 Assessment of the Impact of COVID-19 on the Industry
5 SOUTHEAST ASIA GAMING MARKET LANDSCAPE
5.1 Gaming Market Sizing and Forecast
5.2 Population Statistics vs Online Population
5.3 Gamers Population
5.4 Gamers Population, by Age and Gender
6 MARKET SEGMENTATION
6.1 Platform
6.1.1 PC
6.1.2 Console
6.1.3 Mobile
6.2 Geography
6.2.1 Indonesia
6.2.2 Malaysia
6.2.3 Singapore
6.2.4 Thailand
6.2.5 Rest of Southeast Asia
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Asiasoft Corporation Public Company Limited
7.1.2 IGG Inc.
7.1.3 Com2uS Corporation ??
7.1.4 Netmarble Corporation
7.1.5 Tencent Holdings Ltd
7.1.6 BANDAI NAMCO Entertainment Asia
7.1.7 Sherman3D
7.1.8 Garena SEA Group
7.1.9 Nintendo Co. Ltd
7.1.10 Sony Corporation
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
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