Games - Vietnam

  • Vietnam
  • In Vietnam, revenue in the Games market is projected to reach US$1,664.00m in 2025.
  • Revenue in this sector is expected to demonstrate an annual growth rate (CAGR 2025-2029) of 9.77%, leading to a projected market volume of US$2,416.00m by 2029.
  • In a global context, the majority of revenue will be generated United States, which is expected to reach US$141.80bn in 2025.
  • Within Vietnam's Games market, the number of users is anticipated to amount to 11.9m users by 2029.
  • User penetration in Vietnam will be 10.5% in 2025 and is projected to increase to 11.6% by 2029.
  • The average revenue per user (ARPU) in Vietnam is expected to reach US$777.50.
  • Vietnam's burgeoning gaming industry is increasingly attracting foreign investment, driven by a youthful population and rising demand for innovative gaming experiences.

Key regions: United Kingdom, Germany, India, United States, South Korea

 
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Analyst Opinion

The Games Market within the Media Market in Vietnam is witnessing considerable growth, fueled by a surge in smartphone usage, a young demographic eager for interactive entertainment, and increasing internet accessibility, all contributing to a vibrant gaming culture.

Customer preferences:
Consumers in Vietnam’s Games Market are increasingly gravitating towards mobile gaming experiences that incorporate social elements and local cultural references, reflecting the community-oriented lifestyle prevalent among the younger demographic. Gamers are favoring titles that offer multiplayer capabilities and opportunities for collaboration, driven by a desire for social interaction and shared experiences. Additionally, the rise of esports has sparked interest in competitive gaming, further shaping preferences towards immersive and engaging gameplay that resonates with cultural narratives and trends.

Trends in the market:
In Vietnam, the Games Market is experiencing a surge in mobile gaming that emphasizes social connectivity and local cultural elements, catering to a younger, community-focused audience. The popularity of multiplayer games is on the rise, as players seek collaborative experiences that enhance social interaction. Additionally, the growth of esports is transforming competitive gaming into a mainstream phenomenon, driving demand for immersive gameplay that resonates with local narratives. These trends are crucial for industry stakeholders, as they must adapt their offerings to align with consumer preferences and leverage cultural insights to foster engagement and loyalty.

Local special circumstances:
In Vietnam, the Games Market is uniquely shaped by its rich cultural heritage and vibrant community dynamics. The country's deep-rooted traditions, such as festivals and folklore, inspire game narratives that resonate with local players. Additionally, the rapid urbanization and high mobile penetration facilitate access to gaming, particularly among the youth. Regulatory support for esports and local game development initiatives further fuel growth, creating a competitive landscape that emphasizes collaboration and social interaction, distinguishing Vietnam from other markets.

Underlying macroeconomic factors:
The Games Market in Vietnam is significantly shaped by macroeconomic factors such as increasing disposable income, urbanization trends, and supportive governmental policies. With a growing middle class, consumers are investing more in entertainment, particularly in mobile gaming, which is fueled by high smartphone penetration. Additionally, favorable fiscal policies promoting local game development and esports create an encouraging environment for innovation and competition. Global trends such as the rise of online gaming and streaming services further enhance market dynamics, while regional collaboration initiatives strengthen community engagement, setting Vietnam apart in the broader media landscape.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Demographics
  • Global Comparison
  • Methodology
  • Key Market Indicators
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