Key regions: France, South Korea, Europe, India, Asia
The Online Games market in Vietnam has been experiencing significant growth in recent years, driven by several key factors. Customer preferences have shifted towards online gaming as a form of entertainment, leading to increased demand for gaming products and services. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market.
Customer preferences: Vietnamese consumers have shown a growing interest in online gaming, with a significant portion of the population actively participating in gaming activities. This can be attributed to several factors, including the increasing availability of affordable smartphones and internet access. As a result, more people have access to online gaming platforms and are able to engage in gaming activities.
Trends in the market: One of the major trends in the Online Games market in Vietnam is the rise of mobile gaming. With the widespread adoption of smartphones, mobile gaming has become increasingly popular among Vietnamese consumers. This can be attributed to the convenience and accessibility of mobile gaming, as users can play games anytime and anywhere. As a result, mobile gaming has become a significant revenue driver for the online gaming industry in Vietnam. Another trend in the market is the growing popularity of eSports. Vietnamese consumers have shown a strong interest in competitive gaming, with eSports tournaments and events gaining traction in the country. This trend is driven by the increasing recognition of eSports as a legitimate form of entertainment and the growing number of professional eSports teams and players in Vietnam. As a result, the eSports segment of the online gaming market has been experiencing rapid growth.
Local special circumstances: Vietnam has a young population, with a large proportion of the population being under the age of 30. This demographic factor has contributed to the growth of the online gaming market, as younger consumers are more likely to engage in gaming activities. Additionally, the Vietnamese government has been supportive of the online gaming industry, providing favorable regulations and incentives for companies operating in the sector. This has created a conducive environment for the development of the market.
Underlying macroeconomic factors: The strong economic growth in Vietnam has also played a role in the development of the Online Games market. As the country's economy continues to grow, disposable incomes have increased, allowing consumers to spend more on leisure activities such as online gaming. Additionally, the rise of the middle class in Vietnam has led to an expansion of the consumer base for online gaming, further driving the growth of the market. In conclusion, the Online Games market in Vietnam is experiencing significant growth due to changing customer preferences, including the rise of mobile gaming and eSports. Local special circumstances, such as the young population and government support, have also contributed to the development of the market. Furthermore, underlying macroeconomic factors, such as strong economic growth and the expansion of the middle class, have created a favorable environment for the growth of the online gaming industry in Vietnam.
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.
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