Key regions: United Kingdom, Germany, India, United States, South Korea
The Games market in Thailand has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Thailand have shifted towards gaming as a popular form of entertainment. With the rise of smartphones and affordable internet access, more people have access to gaming platforms and are spending increasing amounts of time playing games. Additionally, Thai consumers have shown a preference for mobile gaming, as it offers convenience and accessibility on-the-go. This has led to a surge in demand for mobile games, resulting in a thriving mobile gaming market in Thailand. Trends in the market further support the growth of the Games industry in Thailand. The increasing popularity of esports has fueled the demand for competitive gaming and organized tournaments. Esports events attract large audiences both in-person and online, and this has created opportunities for game developers, sponsors, and advertisers to capitalize on this growing trend. Furthermore, the emergence of virtual reality (VR) and augmented reality (AR) technologies has opened up new possibilities for immersive gaming experiences, capturing the interest of Thai gamers. Local special circumstances also contribute to the development of the Games market in Thailand. The country has a young and tech-savvy population, with a high percentage of internet users and smartphone penetration. This demographic is more inclined towards digital entertainment and gaming, creating a favorable environment for the growth of the Games industry. Additionally, Thailand has a vibrant gaming community, with numerous gaming cafes, conventions, and events that foster a sense of community and engagement among gamers. Underlying macroeconomic factors have also played a role in the expansion of the Games market in Thailand. The country has experienced steady economic growth, leading to an increase in disposable income among consumers. This has allowed more people to afford gaming devices and spend on in-game purchases. Furthermore, the government has recognized the potential of the Games industry and has implemented supportive policies and initiatives to promote its growth. This includes providing incentives for game developers and creating platforms for collaboration and innovation. In conclusion, the Games market in Thailand is experiencing rapid growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing popularity of mobile gaming, esports, and emerging technologies like VR and AR are driving the demand for games in Thailand. The young and tech-savvy population, along with favorable economic conditions and government support, further contribute to the expansion of the Games industry in the country. As a result, the future of the Games market in Thailand looks promising, with ample opportunities for game developers, investors, and other stakeholders.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. 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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