Key regions: United Kingdom, India, China, South Korea, Asia
The Mobile Games market in Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing penetration of smartphones in the country.
Customer preferences: Vietnamese consumers have shown a strong inclination towards mobile gaming, with a growing number of people spending their leisure time playing games on their smartphones. This can be attributed to several factors. Firstly, mobile games offer convenience and accessibility, allowing users to play anytime and anywhere. Secondly, the increasing popularity of social gaming has created a sense of community and competition among players, further driving the demand for mobile games. Lastly, the availability of a wide variety of game genres and themes caters to the diverse preferences of Vietnamese gamers.
Trends in the market: One of the key trends in the Mobile Games market in Vietnam is the rise of hyper-casual games. These games are characterized by their simple gameplay mechanics and short play sessions, making them highly appealing to casual gamers. The low barrier to entry for developers has also contributed to the proliferation of hyper-casual games in the market. Another trend is the increasing adoption of in-app purchases and advertisements as monetization strategies by game developers. This allows them to generate revenue while keeping the games free to download, attracting a larger user base.
Local special circumstances: Vietnam has a young population, with a significant portion of the population belonging to the millennial and Gen Z age groups. These demographics are known to be avid mobile gamers, contributing to the growth of the Mobile Games market in the country. Additionally, the relatively low cost of smartphones and mobile data plans in Vietnam has made mobile gaming more accessible to a wider audience.
Underlying macroeconomic factors: The growing Mobile Games market in Vietnam can be attributed to several macroeconomic factors. Firstly, the country has experienced rapid economic growth in recent years, leading to an increase in disposable income among the population. This has allowed more people to afford smartphones and spend on mobile games. Secondly, the expanding middle class in Vietnam has resulted in an increase in consumer spending on entertainment and leisure activities, including mobile gaming. Lastly, the government's efforts to improve internet infrastructure and promote digitalization have also played a role in the growth of the Mobile Games market, as it has facilitated better connectivity and access to online gaming platforms. Overall, the Mobile Games market in Vietnam is witnessing significant growth due to changing customer preferences, the rise of hyper-casual games, and favorable macroeconomic factors. With the increasing penetration of smartphones and the availability of affordable mobile data plans, the market is expected to continue its upward trajectory in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Video Games market. Digital video games are defined as fee-based video games distributed over the internet. These include online games, download games, mobile games, and gaming networks. 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.
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