Key regions: South Korea, United Kingdom, India, Europe, United States
The eSports market in Vietnam is seeing a rise in sponsorship and advertising due to the growing popularity of digital platforms and increasing consumer interest in the industry. However, the market's growth rate is currently negligible due to factors such as limited infrastructure and lack of government support for the eSports sector.
Customer preferences: As the eSports market continues to grow in Vietnam, there has been a noticeable increase in the use of influencer marketing and product placement in gaming events. This shift is driven by the rising popularity of eSports among younger generations, and the recognition of gaming as a mainstream form of entertainment. Brands are also leveraging the massive online following of professional gamers to promote their products to a highly engaged and tech-savvy audience. This trend is indicative of the changing consumer preferences in Vietnam, where digital channels are becoming increasingly important for reaching and engaging with target audiences.
Trends in the market: In Vietnam, the eSports market is experiencing a surge in sponsorship and advertising opportunities. With the increasing popularity of eSports, companies are eager to invest in this market to reach a younger, tech-savvy audience. This trend is expected to continue as eSports gains mainstream recognition and more events and tournaments are held in the country. As a result, industry stakeholders, such as eSports teams and event organizers, are likely to see a rise in partnerships and advertising deals. This could also lead to a higher profile for eSports in Vietnam and potentially open up new revenue streams for players and teams.
Local special circumstances: In Vietnam, the eSports market is gaining traction due to the country's youthful population and strong interest in gaming. This presents a unique opportunity for sponsorship and advertising, as Vietnamese gamers are highly engaged and loyal to their favorite teams and players. Additionally, the country's fast-growing economy and increasing disposable income contribute to the potential for a lucrative market. However, strict regulations on online advertising and sponsorship may pose challenges for companies looking to enter this market. Furthermore, Vietnam's diverse geography and cultural nuances may require tailored marketing strategies to effectively reach the target audience.
Underlying macroeconomic factors: The Sponsorship & Advertising Market within the eSports Market in Vietnam is influenced by macroeconomic factors such as the country's economic growth, government policies, and investments in the gaming industry. Vietnam's economy has been growing steadily over the past few years, with a strong focus on technology and innovation. This has led to a rise in disposable income and an increase in consumer spending, which in turn has driven the growth of the eSports market. Additionally, favorable government policies and investments in the gaming industry have created a conducive environment for the growth of the Sponsorship & Advertising Market within the eSports Market in Vietnam. As the country continues to develop and attract foreign investments, the market is expected to experience further growth in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Sponsorship & Advertising market, which comprises revenues of teams and organizers via sponsorship deals. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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