Hyderabad, March 16, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Southeast Asian Gaming Market - (2023 - 2028)", the market is expected to register a CAGR of 16.2%. Factors like the expanding popularity and interest in various sports and increasing investments in internet infrastructure are providing growth potential to the industry. In 2022, 5G technology witnessed promising growth in wireless network infrastructure. With its minimal latency capabilities, users can access an incredibly smooth cloud gaming experience.
Southeast Asian telecommunication providers have announced merger deals worth USD 30 billion in 5G. In September 2021, Ooredoo and CK Hutchinson signed an agreement valued at USD 6 billion for their telecommunications operations. True Corp, Thailand's second-largest telecommunication company, is also planning to merge with DTAC as part of a USD 8.6 billion enterprise that is estimated to serve around 51 million customers.
Mobile gaming to hold a significant share in the Southeast Asian Gaming Market:
- According to the All-Correct Games blog, Southeast Asia had approximately 250 million mobile online gamers in 2021, with Malaysia, Thailand, Vietnam, Indonesia, Singapore, and The Philippines being the largest contributors. This significant growth was primarily due to more free-to-play options than personal computer gaming. Furthermore, cloud-based mobile gaming is expected to drive the growth of the market in the future. The market for e-sports is growing exponentially in Southeast Asia as traditional games are being replaced by digital games.
- Over 55% of mobile gamers are around 55 years of age, and only 8% are teenagers, mainly because of the popularity of hyper-casual and casual games, which do not require many skills and can be played by any user.
- Hyper-casual games mostly earn revenue through advertising.
- However, the mobile gaming market is seasonal, as the popularity of the games may decrease over time.
- A Google survey revealed that at least one in three smartphone owners in Southeast Asia played mobile games at least once in seven days.
- Over 82% of Southeast Asia's urban online population are gamers, and mobile gaming leads substantially over PC and console games.
How is the growth being addressed?
The online gaming industry has witnessed impressive growth due to increased internet access and affordable smartphones. This sector is mainly powered by revenue streams such as in-app purchases, pay-per-download, subscription services, advertisements, etc.
Tech giants like Amazon and Google have been investing in the online gaming industry. This is expected to drive the growth of the market. For instance, Amazon ramped up its expansion into the MMORPG (Multiplayer Online Role-Playing Game) gaming industry with the release of "New World." In February 2021, Google LLC closed its in-house Stadia game development studios to refocus it as a platform to provide games and game streaming services from existing developers.
The increasing trend of e-sports is also driving the games market in the region. E-sports can be defined as a form of competition using video games. This includes multiplayer video game competitions, particularly between professional players, individually or as teams. With the rising viewership on online platforms like Twitch and YouTube, advertising is expected to generate more revenue during the forecast period.
Who are the key players in the Southeast Asian Gaming Market?
The Southeast Asian gaming market is highly competitive due to the presence of many small and large players.
- Sony
- Asiasoft
- IGG Inc.
- com2uS Corporation
- Nintendo Co. Ltd
- Tencent Holdings Ltd
- Netmarble Corporation
- BANDAI NAMCO Entertainment Asia
- Sherman3D
- Garena SEA Group
Recent developments in the Southeast Asian Gaming Market:
- In September 2022, Playpark, an online game publisher, announced the newest mobile MMORPG, Dream of a New World, in Singapore, Indonesia, Malaysia, and the Philippines.
- In September 2022, GRAVITY Co. Ltd, a producer, and publisher of online and mobile games announced that Gravity Game Tech Co. Ltd successfully unveiled Ragnarok Tactics II in Thailand. Ragnarok Tactics II is a tactical SRPG where players gather monsters and level up their characters.
- In March 2022, Microsoft announced the launch of PC Game Pass in Thailand, Malaysia, Indonesia, the Philippines, and Vietnam.
Briefly, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/southeast-asia-gaming-market
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