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Online Games - Asia

Asia

In Asia, revenue in the Online Games market market is projected to reach €13.66bn in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.29%, leading to a projected market volume of €17.68bn by 2029.
In the Online Games market market withAsia, the number of users is anticipated to total 0.8bn users by 2029.
User penetration will stand at 16.3% in 2024 and is projected to increase to 17.4% by 2029.
In a global context, the majority of revenue will be generated China, with an expected figure of €6,057.00m in 2024.
The average revenue per user (ARPU) in the Online Games market market in Asia is projected to reach €18.42 in 2024.
In Asia, particularly in South Korea, the online games market is increasingly influenced by the rise of competitive esports and mobile gaming integration.

Key regions: France, South Korea, Europe, India, Asia

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Analyst Opinion

The Online Games market in Asia has been experiencing significant growth in recent years.

Customer preferences: In Asia, there is a strong demand for online games due to several factors. Firstly, the region has a large and growing population of tech-savvy individuals who are increasingly connected to the internet. This has created a vast potential market for online games. Additionally, many Asian countries have a culture that values gaming as a form of entertainment and social interaction. Online games provide an opportunity for individuals to connect with friends and compete against others, which is highly appealing to Asian consumers. Furthermore, the rise of mobile gaming has made online games more accessible to a wider audience, as smartphones are widely used in the region.

Trends in the market: One of the key trends in the Asian online games market is the increasing popularity of multiplayer online battle arena (MOBA) games. These games, which involve teams of players competing against each other in a virtual arena, have gained a huge following in countries like China and South Korea. The success of games like League of Legends and Dota 2 has led to the growth of professional esports leagues and tournaments, attracting millions of viewers and generating significant revenue. This trend is expected to continue as more players and investors recognize the potential of esports in the region. Another trend in the Asian online games market is the rise of free-to-play games with in-app purchases. This business model allows players to download and play games for free, but offers optional in-game items or upgrades that can be purchased. This model has proven to be highly profitable, as it encourages players to spend money on virtual goods and enhances the overall gaming experience. Many Asian players are willing to spend money on these virtual items, leading to a lucrative market for game developers.

Local special circumstances: Each country in Asia has its own unique gaming landscape and regulations. For example, China has the largest online games market in the region, but it also has strict regulations on game content and approval processes. South Korea, on the other hand, has a highly competitive gaming culture and is known for its professional esports scene. Japan has a strong console gaming tradition, but is also experiencing a rise in mobile gaming. These local special circumstances influence the types of games that are popular in each country and the strategies that game developers need to adopt to succeed.

Underlying macroeconomic factors: The rapid growth of the Asian online games market can be attributed to several macroeconomic factors. Firstly, the region has experienced strong economic growth in recent years, which has led to higher disposable incomes and increased consumer spending. This has allowed more individuals to afford gaming devices and invest in online games. Additionally, the widespread availability of high-speed internet and the proliferation of smartphones have made it easier for people to access online games. The increasing penetration of internet services in rural areas has also contributed to the growth of the online games market in Asia. In conclusion, the Online Games market in Asia is thriving due to customer preferences for online gaming, such as the demand for multiplayer online battle arena games and the popularity of free-to-play games with in-app purchases. Local special circumstances in each country also play a role in shaping the gaming landscape, while underlying macroeconomic factors like economic growth and improved internet access have contributed to the market's expansion.

Methodology

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.