Southeast Asian Demand for Video Games to Nearly Double by 2023, to Reach USD 7 Billion
SINGAPORE – Video game sales will nearly double through 2023 to reach USD 7 billion, with mobile gaming seeing the fastest growth (20%) to become the favourite choice for gamers in Southeast Asia, according to global market research company Euromonitor International.
The new white paper “The Future Consumers of Southeast Asia” examines how technology and generation Z will shape the entertainment market, eating habits, and overall lifestyle in Southeast Asia by 2030. According to Euromonitor’s 2019 Lifestyles Survey, 28% and 17% of consumers in Vietnam and Singapore take part in online video gaming at least one to two times per week respectively, while 18% of Thais and 16 % of Filipinos play almost every day.
At the 2019 Southeast Asian Games event, esports was featured as a medal category in a multi-sport competition for the first time. “In the future, virtual reality (VR) technology is likely to enhance the in-game experience for esports competitors. VR could even lead to consumers enjoying concerts or sports games from the comfort of their own homes,” says Jo Ann Reddy, senior regional division manager at Euromonitor International.
Advancements in technology have already resulted in 4DX movie theatres and VR theme parks, while augmented reality (AR) will transform sports stadiums as well. “In recent years Panasonic has showcased its smart stadium solutions involving AR and 3D projection mapping creating a display interface. Using this interface in a suite will allow spectators to see player and game statistics, engage on social media or buy food and merchandise”, Reddy concludes.
To receive the report on “The Future Consumers of Southeast Asia” please visit: http://bit.ly/3cxw34H
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