Key regions: China, United States, Asia, Germany, France
The eSports market in Singapore has been growing at a subdued rate, impacted by factors such as limited sponsorship and advertising opportunities, low media rights deals, and strict regulations on betting. However, the market is expected to see growth in merchandise and ticket sales, publisher fees, and streaming services due to increasing interest and investment in the industry.
Customer preferences: The eSports market in Singapore has seen a significant increase in popularity, especially among the younger demographic. This trend is driven by a growing interest in competitive gaming and the rise of streaming platforms such as Twitch and YouTube. As a result, there has been a surge in demand for gaming peripherals and equipment, as well as virtual events and tournaments. This shift towards digital entertainment is also attributed to the increasing reliance on technology for social interaction and leisure activities among Singaporean consumers.
Trends in the market: In Singapore, the eSports market is experiencing a surge in mobile gaming, as more players turn to their smartphones for competitive gaming. This trend is driven by the increasing availability of high-performance mobile devices and the convenience of playing on-the-go. In addition, there is a growing emphasis on creating a more inclusive and diverse gaming environment, with initiatives such as women-only tournaments and partnerships with disability organizations. These trends not only cater to the changing preferences of players, but also present opportunities for industry stakeholders to expand their reach and tap into new markets.
Local special circumstances: In Singapore, the eSports market is thriving due to the country's high internet penetration rate and government support for the industry. With a strong tech-savvy culture, Singapore has become a hub for gaming events and tournaments, attracting top players and teams from around the world. The country's strict censorship laws and emphasis on education have also influenced the development of the eSports market, with a focus on promoting responsible gaming practices and fostering a competitive yet respectful community. Additionally, the small size of the country and its dense population make it easier for eSports companies to reach a large audience, creating a unique advantage for the market.
Underlying macroeconomic factors: The eSports market in Singapore is greatly impacted by macroeconomic factors such as global economic trends, the country's economic health, fiscal policies, and other relevant financial indicators. As a highly developed and innovative country, Singapore's economy is heavily influenced by global economic shifts. The stability and strength of its economy, coupled with government support for the technology and gaming industries, have contributed to the growth of the eSports market in the country. Furthermore, the government's favorable regulatory environment and investments in digital infrastructure have created a conducive environment for the growth of the eSports market. Additionally, the increasing popularity of eSports among the younger generation and the rise in disposable income levels in the country are also driving the demand for eSports events and tournaments.
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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