Key regions: Germany, United States, China, India, South Korea
The eSports market in Vietnam has seen minimal growth, influenced by factors such as limited internet access and low disposable income among consumers. Despite this, the market is expected to continue growing as streaming platforms and online tournaments gain popularity among the younger generation.
Customer preferences: As the eSports market in Vietnam continues to grow, there has been a noticeable increase in the popularity of streaming platforms for watching live tournaments and matches. This trend is fueled by the country's young population, who are increasingly turning to online platforms for entertainment. Additionally, the rise of mobile gaming and the prevalence of smartphones have made it easier for Vietnamese consumers to access and engage with eSports content on the go. This has led to a shift towards more mobile-friendly streaming services and a higher demand for interactive and engaging content.
Trends in the market: In Vietnam, the eSports market is experiencing significant growth, with a focus on streaming platforms. This trend is driven by a surge in internet usage and a young, tech-savvy population. The trajectory of this trend is expected to continue upwards, as more players and viewers are drawn to online tournaments and live streaming events. This has significant implications for industry stakeholders, as it opens up new revenue streams and opportunities for sponsorships and partnerships. Additionally, this trend is fueling the development of specialized streaming platforms and services, catering specifically to the eSports market in Vietnam. This could potentially lead to further innovation and growth in the market.
Local special circumstances: In Vietnam, the Streaming Market within the eSports Market is heavily influenced by the country's young and tech-savvy population, with over 50% of the population under the age of 35. This demographic is highly engaged with online gaming and esports, creating a strong demand for streaming platforms. Additionally, the Vietnamese government has recently begun to recognize esports as a legitimate sport, leading to increased investment and growth in the market. Furthermore, the country's high internet penetration rate and affordable data plans make it a prime market for streaming platforms to thrive.
Underlying macroeconomic factors: The growth of the Streaming Market within the eSports Market in Vietnam is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and overall investment in technology and infrastructure. Vietnam's thriving economy and increasing investment in digital technologies have created a favorable environment for the growth of the streaming market. However, challenges such as regulatory restrictions and limited funding for the eSports industry may hinder the market's growth. Furthermore, the increasing popularity of eSports among the younger population in Vietnam and the country's growing middle class are also driving the demand for streaming services in the eSports market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Streaming market, which comprises revenues from live broadcasting gaming content. 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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