Southeast Asia is emerging as one of the fastest-growing regions within the global video game industry landscape. The region offers major opportunities for game developers and publishers, hardware and device makers, infrastructure providers, and investors. The growing population, with higher demand for games, live streaming, and esports, is catching the attention of global game companies and policy makers. It is imperative to understand that each country in Southeast Asia needs a customized approach as the region is not homogeneous in terms of economic & infrastructure development, gamer profile, and preferences.
The 2024 SEA-6 Games Market Reports are presented in an all-new way, for six notable Southeast Asia markets: Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Each report includes sections on PC and mobile segments.
This series includes 3 reports:
- Market Model Report - May 2024
- Gamer Behavior & Market Insights Report - July-September 2024
- Market Model Update Report - November 2024
Key takeaways from the SEA-6 Market Model Report
- The SEA video games market generated revenue of $5.1 billion in 2023, up 8.8% YoY.
- The SEA video games market is set to grow 8% in 2024, with revenue of $5.5 billion, and is forecasted to reach $7.1 billion in 2028, growing at a 5-year CAGR of 6.7%.
- Spending power is increasing across Southeast Asia and the region is forecasted to be the second fastest growing region tracked in terms of ARPU growth through 2028. It will also be home to 332 million gamers in 2028, the same as the US population today.
- The SEA video game market had 277.2 million gamers in 2023, up 4.4% YoY. The total number of gamers is set to grow 3.2% in 2024, reaching 285.9 million, and is forecasted to reach 331.8 million in 2028 at a 5-year CAGR of 3.7%.
- Thailand and Indonesia are the fastest-growing markets by revenue through 2028, and Thai and Indonesian have also become must add localization languages.
Key takeaways from the SEA-6 Gamer Behavior & Market Insights Report: Southeast Asia Gaming Markets
- A rebound in gaming time is seen in 2024, with 53.2% YoY increase in time spent gaming in the SEA-6 following a major drop of gaming time in 2023, with the highest increase seen in Thailand and Vietnam. This means SEA-6 gamers are spending more time playing games in 2024 after a dip in 2023 following the end of the COVID-19 pandemic.
- More than half of SEA-6 gamers are engaged in some way with esports, indicating that esports continue to remain a key market growth driver in this region. We note that a majority of the top 10 games for both mobile and PC in SEA-6 are esports-focused titles.
- Female gamers represent an important demographic for game purchases in Southeast Asia. A higher ratio of female gamers (30%) make game-related purchases compared to their male counterparts (22%).
Payments
- Digital wallets are the most popular payment platforms for games in SEA-6, with more than 75% of gamers in the region using them to pay for games.
- Older gamers are more likely to use credit cards or debit cards for payments, with 50% of gamers over 25 doing so. Younger gamers, especially those under the age of 21, are far more likely to use cash as a method of payment.
Play-to-earn and crypto games still generate interest among Southeast Asian Gamers
- Play-to-earn still generates a lot of positive buzz in Southeast Asia, with the mechanic ranking in the top three technologies of interest for gamers in every SEA-6 market except Singapore. Additionally, play-to-earn is the top emerging technology generating interest in Malaysia, the Philippines, and Thailand.
- Web3 games are another emerging technology that is still garnering a lot of interest, especially in the Philippines, Thailand, and Vietnam. Although growth levels in this industry have slowed, we still see investments in this sector in Southeast Asia.
Other notable trends
- Gamers still prefer to have games translated into local languages, especially in Indonesia, Thailand, and Vietnam, with more than 50% of gamers in these three countries preferring to play games that are translated over ones that are not. Language localization does not score high in the other three SEA-6 markets (Malaysia, Singapore, and the Philippines) due to high levels of English proficiency in these countries.
- Representation, accessibility, and anti-harassment initiatives rank highly among issues that gamers care about across countries, as is the inclusion of well-created female characters.
- Locally-developed games are gaining more press and popularity within the SEA-6 and beyond. Notable titles that have seen success include Coral Island (Indonesia), Gigabash (Malaysia), Cat Quest (Singapore), and Home Sweet Home: Online (Thailand).
Table of Contents
SEA-6 Games Market Model Report
- Table of Contents
- About the Report
- Executive Summary
- Market Model Infographic
- 2024 Market Model
- Market Model - All Platforms
- Market Model - Mobile
- Market Model - PC
- Market Model - Console
- Market Model - Export
- Analysis & Demographics
- Forward Looking Analysis
- Gamer Demographics
- Appendix
- Methodology
- List of Exhibits
- Domestic Video Games Market - Mobile, PC, Console
- Gamer Demographics - Gender, Age & Devices
- Gamer Demographics - Employment Status and Income
SEA-6 Gamer Behavior & Market Insights Report
- Table of Contents
- About the Report
- Executive Summary
- Infographic
- Growth Drivers & Inhibitors
- Gamer Behavior Insights
- Market Overview
- Gaming Motivation
- What Gamers are Spending on
- Why Gamers are Spending Money
- Spending Trends in PC Gaming & Mobile Gaming
- Games Selection & Discovery
- Importance of DEI
- Mobile Game Market Insights
- Mobile Games Market Overview
- Mobile Gaming Trends
- Top 10 Grossing Games
- PC Game Market Insights
- PC Games Market Overview
- PC Gaming Trends
- Internet Cafes Overview
- Top Games on Steam
- Esports & Livestreaming
- Esports Overview and Market Model
- Esports Tournaments
- Esports Engagement
- Livestreaming & Vtuber
- Hardware & Technology
- Internet Penetration Overview
- Awareness in Gametech
- Localization & Payments
- Localization Overview
- Localized Marketing Strategy
- Preference Payment Channels
- Financial & Investments
- M&A Overview
- Updates on Local Game Companies
- Regulations
- Updates on Regulations
- Appendix (Methodology, Genre List and Glossary)
- List of Exhibits
- Average Monthly Spending and Playing Time
- What Gamers Spend On
- Why Gamers Spend
- Disliked Aspects When Playing Games
- Reasons for Not Spending
- Why Play a New Game?
- Sources of Information on New Games
- Popular Messaging/Social Media Platform for Gamers
- Importance of DEI
- Average Monthly Spending and Playing Time of Mobile Gamers
- Top Mobile Games Played by Respondents
- Top Mobile Games Spending by Respondents
- Top 25 Grossing Games in H1 2024 by Release Year
- Average Monthly Spending and Playing Time of PC Gamers
- Top PC Games Played by Respondents
- Top PC Games Spending by Respondents
- Esports and Streaming Activities
- Time Spent for Online Activities
- Streaming Platforms
- Awareness and Interest in New Technologies
- Importance of Language Localization
- Localization-Related Drivers in Playing New Games
- Preferred Payment Method
- Preferred Digital Wallet
- Awareness of Government Regulation Related to Games
- Opinion on Game Industry Policies
Companies Mentioned
- 37GAMES
- 9 Lives Interactive
- AcadArena
- Activision Blizzard King
- AfreecaTV
- Agate
- AKA Virtual
- AltLayer
- Amazin Seasun Games
- Amazon
- Animation Vertigo
- Animoca Brand
- APAC Investment and Innovation Development Association (AIIDA)
- AURA Esports
- Authentic Remixes
- Bandai Namco
- Behaviour Interactive
- Berangin Creative
- Bitkub Capital Group
- Blacklist International
- BOOM Esports
- Buko Studios
- ByteDance
- Capcom
- Catalis Group
- CD Projekt
- CelcomDigi
- Century Games
- Cerberus Esports
- Clover-Fi Games
- Com2uS
- Common Extract
- Creepy Jar
- Crowbar Collective
- Cygames
- Department of Trade and Industry (DTI)
- Digital Extremes
- DigitalBridge
- Double Eleven
- Dream Games
- Duoyi Games
- Electronic Arts
- Electronic Industry Association (AEI) of Indonesia
- Emottoons Animations Studio
- EVOS
- Farlight Games
- Fat Raccoon Games
- First Fun
- FishSoft
- Fizzbuzz, Inc.
- Folius Ventures
- FPT
- Frame Rats Digital
- FromSoftware
- G2 Esports
- GAM Esports
- Gambir Studio
- GameOps Inc.
- Games and Amusement Board (GAB)
- Gamota
- Garena Games Online
- Gentlebros
- Gingersun
- Globe
- Glory Jam
- Gravity
- GravityGameHub
- Grinding Gear Games
- Gtel
- Guerilla Games
- Hiker Games
- hololive ID
- HomeBois
- Hoyoverse
- Huawei
- Humble Games
- iCandy
- Iglobsys Technology
- Independent
- Indonesia Games Association (AGI)
- Indonesian Blockchain Association (ABI)
- Indonesian Esports Federation (PBESI)
- Indonesian Internet Service Provider Association (APJII)
- Indonesian Ministry of Communications and Information Technology (Kominfo)
- Indonesian Ministry of Tourism and Creative Economy (Kemenparekraf)
- Indonesian Ministry of Youth and Sports (Kemenpora)
- Indonesia’s Coordinating Ministry for Economic Affairs
- Indosat Ooredoo
- Infocomm Media Development Authority (IMDA)
- InFold
- Information and Communications Technology Office (ICTO)
- Internet Cafe Business Association (HIPWINDO) of Indonesia
- IO Esports
- Joy Net
- Kadiliman Esports
- Kevuru Games
- Klapanom
- Konami
- KRAFTON
- Kuro Games
- Larian Studios
- Lemon Sky Studios
- Level Infinite
- LGD Gaming MY
- Light Up Games
- Lightspeed Venture Partners
- Lilith Games
- Malaysian Commission for Multimedia and Communication
- Malaysian Ministry for Communications and Digital
- Malaysian Ministry of Youth and Sports
- Mason Games
- Maxis
- MetaCene
- Microsoft
- miHoYo
- Milestone
- Ministry of Information and Communications
- Mobifone
- Mojiken Studio
- Moon Active
- Moonton
- NAOS Esports
- National Esports Clubs Union
- NCSoft
- NCV Games
- NetEase
- Netmarble Games Corp.
- Niji Games
- Nimbus Games
- Nintendo
- Nuverse
- NVIDIA
- NX3 Games
- Obsidian
- OEG
- Onic
- Oray Studio
- Orienjoy
- Paper Rex
- PaperGame
- Papergames
- Passion Republic
- Penjana Kapital
- Philippine Esports Organization (PESO)
- Philippine Online Gaming Corporations (POGOs)
- Pixel Mafia Ltd.
- Playtika
- Plexus Studio
- Polaris
- Poysky Productions
- Project Yoru
- Ranida Games
- Razer
- Red River Tech
- Respawn Entertainment
- Riot Games
- RiverGame
- Roblox Corporation
- Rockstar Games
- RRQ
- Sad Owl Studios
- Sandbox Interactive
- Scopely
- Secret 6
- Secretlab
- Sekuya
- SevenX Ventures
- Singtel
- Sky Mavis
- Smart
- Smilegate
- SNK Games
- Sony Interactive Entertainment
- Source Technology
- Sparkgame
- Square Enix
- StarHub
- Startrace Studio OPC
- Streamline Studios
- Supercell
- Taktyl Studios
- Team Secret
- TECNO
- Telekom Malaysia
- Tencent
- Thailand Esports Federation (TESF)
- thatgamecompany
- The Game Company
- The Gang
- The Sandbox
- TNC Pro Team
- Toge Productions
- U Mobile
- Ubisoft
- Valve
- Valve (Steam)
- Vietnammobile
- Viettel
- VIRESA
- Virtuos
- Virtuos Kuala Lumpur
- VNG
- VNPT-Vinaphone
- VSPO
- W3GG
- Wemade
- Yggdrazil Group
- YTL
- Zalo
- Zeekerss
- ZTE
- ZTEK Studio
