Key regions: China, United States, Asia, Germany, France
The eSports market in ASEAN has shown moderate growth due to factors like the increasing popularity of digital platforms, growing interest in competitive gaming, and the emergence of new revenue streams. However, the market's growth rate is subdued as challenges such as lack of infrastructure and regulatory hurdles hinder its potential. As the industry continues to mature and diversify, it is likely to see a rise in revenue streams such as sponsorship, merchandise, and media rights, which will drive future growth.
Customer preferences: With the rise of social media and online communities, eSports enthusiasts are increasingly looking for opportunities to connect and engage with other players. This has led to a growing demand for virtual tournaments and online gaming events, where players can compete and interact with each other from the comfort of their own homes. Additionally, the younger demographic in ASEAN countries is embracing eSports as a form of entertainment, further driving the growth of the market. This shift towards virtual gaming experiences is also fueled by the convenience and accessibility offered by digital platforms.
Trends in the market: In the ASEAN region, the eSports market is experiencing a rapid growth, driven by the increasing popularity of mobile gaming and the rise of online streaming platforms. This trend is expected to continue, with a projected market value of $1.5 billion by 2023. This presents significant opportunities for stakeholders in the industry, such as game developers, streaming platforms, and tournament organizers. However, it also poses challenges in terms of infrastructure, regulation, and talent development. As such, industry stakeholders must stay abreast of these trends to effectively capitalize on the market's potential and address its potential challenges.
Local special circumstances: In the ASEAN region, the eSports market is experiencing rapid growth due to the increasing internet and smartphone penetration rates. In countries like Indonesia and the Philippines, where traditional sports are highly popular, eSports has gained traction as an alternative form of entertainment. Additionally, the region's young and tech-savvy population has contributed to the rise of eSports, with major tournaments and events being organized in countries like Malaysia and Thailand. However, government regulations on online gaming and gambling in some ASEAN countries can pose challenges for the market's growth and development.
Underlying macroeconomic factors: The ASEAN region is a rapidly growing market for eSports due to the increasing popularity of online gaming and the availability of advanced technology. However, the market is also affected by macroeconomic factors such as economic growth, government policies, and consumer spending patterns. Countries with strong economic growth and favorable government policies are likely to experience higher demand for eSports products and services. Moreover, the increasing disposable income of consumers in the region is also driving the growth of the eSports market, as more people are willing to spend on gaming and entertainment. Additionally, the growing youth population in ASEAN countries is contributing to the market's growth, as younger generations are more likely to be interested in eSports and have higher purchasing power.
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.
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