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Games - Asia

Asia

Revenue in the Games market is projected to reach US$224.70bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.89%, resulting in a projected market volume of US$328.50bn by 2029.
In global comparison, most revenue will be generated in China (US$128.90bn in 2024).
In the Games market, the number of users is expected to amount to 1,742.0m users by 2029.
User penetration will be 32.9% in 2024 and is expected to hit 37.3% by 2029.
The average revenue per user (ARPU) is expected to amount to [arpu_firstmarket_yeartoday].

Key regions: Europe, China, India, Japan, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Games market in Asia has been experiencing significant growth in recent years, driven by several key factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of the Games market in Asia.

Customer preferences in Asia have played a crucial role in shaping the Games market. Asian consumers have shown a strong affinity for mobile gaming, with smartphones being the primary gaming device for many. This preference for mobile gaming has led to a surge in demand for mobile games, resulting in the growth of the mobile gaming industry in Asia.

Additionally, Asian consumers have also shown a preference for multiplayer online games, contributing to the popularity of online gaming platforms in the region. Trends in the market have further fueled the growth of the Games market in Asia. One notable trend is the rise of esports in the region.

Esports has gained significant traction in Asia, with professional gaming tournaments attracting large audiences and generating substantial revenue. This trend has led to the development of dedicated esports arenas and the establishment of professional esports teams, further driving the growth of the Games market in Asia. Local special circumstances have also played a role in the development of the Games market in Asia.

The region is home to several countries with large populations and a growing middle class, providing a vast consumer base for the gaming industry. Additionally, the prevalence of internet cafes in Asia has contributed to the popularity of online gaming, as these cafes provide access to high-speed internet and gaming facilities for individuals who may not have access to such resources at home. Underlying macroeconomic factors have also contributed to the growth of the Games market in Asia.

Economic growth in the region has led to an increase in disposable income, allowing consumers to spend more on leisure activities such as gaming. Furthermore, advancements in technology and infrastructure have made gaming more accessible to a larger population, driving the demand for games and gaming devices. In conclusion, the Games market in Asia has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The preference for mobile gaming, the rise of esports, the large consumer base, and economic growth have all contributed to the development of the Games market in Asia. As these factors continue to evolve, the Games market in Asia is expected to continue its upward trajectory.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

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.