Esports - Thailand

Thailand

In Thailand, revenue in the Esports market is projected to reach €20.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.98%, resulting in a projected market volume of €28.5m by 2029.
The largest market within this market in Thailand is Esports Betting, with a market volume of €13.3m in 2024.
Most revenue is generated the United States, with a projected market volume of €982.1m in 2024.
In the Esports market in Thailand, the number of users is expected to amount to 10.0m users by 2029.
User penetration will be 11.1% in 2024 and is expected to hit 13.9% by 2029.
The average revenue per user (ARPU) in Thailand is expected to amount to €2.55.
Thailand's esports market is experiencing significant growth, driven by increasing youth engagement and a burgeoning competitive gaming community fostering local talent and innovation.

Key regions: China, United States, Asia, Germany, France

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Analyst Opinion

The eSports market in Thailand is growing at a subdued rate, influenced by factors such as increasing sponsorships and advertising, rising demand for merchandise and tickets, and the convenience of online streaming and media rights. However, strict regulations on esports betting and publisher fees may impact the overall market growth. This market is expected to continue its growth trajectory in the coming years.

Customer preferences: With the rise of the eSports market in Thailand, there has been a notable shift in consumer preferences towards virtual gaming experiences. This trend is driven by the growing popularity of online gaming platforms and the increasing accessibility of high-speed internet in the country. Additionally, the younger demographic in Thailand is fueling this trend as they are more likely to engage in eSports activities compared to other age groups. This shift towards virtual gaming is also influenced by the changing lifestyle factors, such as the need for social interaction and entertainment, especially in times of social distancing.

Trends in the market: In Thailand, the eSports market is experiencing a surge in popularity, with a growing number of tournaments and events being organized. This trend is expected to continue as the country's government has acknowledged the potential of eSports and is actively promoting its growth. This is significant for industry stakeholders as it presents new opportunities for partnerships and sponsorships. Additionally, the rise of eSports in Thailand could also lead to the development of local talent and the establishment of a thriving industry, similar to other Asian countries like South Korea and China. With the increasing accessibility of technology and internet connectivity in Thailand, the potential for growth in the eSports market is immense. This trend could also have a positive impact on the country's economy, attracting investments and creating job opportunities in the gaming and technology sector. As such, it is crucial for stakeholders to keep a close eye on the trajectory of this trend and capitalize on the opportunities it presents.

Local special circumstances: In Thailand, the eSports market is on the rise due to the country's strong video gaming culture and the increasing availability of high-speed internet. The government's support for the industry through initiatives such as hosting major international tournaments has also played a significant role in its growth. Additionally, the country's unique geographical location in Southeast Asia has made it a popular destination for international eSports events, further boosting the market. Furthermore, Thailand's strong cultural emphasis on competition and technology adoption has contributed to the widespread popularity of eSports among its population.

Underlying macroeconomic factors: The eSports market in Thailand is heavily influenced by macroeconomic factors such as the country's economic growth rate, government policies, and investments in digital infrastructure. Thailand's strong economic growth has led to an increase in disposable income and a growing middle class, which has resulted in higher spending on leisure activities such as gaming. In addition, the government's support for the development of eSports and investments in digital infrastructure have created a conducive environment for the growth of the market. Furthermore, the increasing smartphone penetration and internet connectivity in the country have also contributed to the popularity of eSports among the younger population. These favorable macroeconomic conditions have resulted in Thailand being one of the fastest-growing eSports markets in Southeast Asia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Esports market, which comprises revenues from and users of professional competitive gaming content. This includes any professional and semiprofessional gaming competitions within tournaments or leagues that offer a championship title or prize money. 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.