Asia and MENA Markets
Combined Asia and MENA market revenue reached $88.9 billion in 2025, up 2.6% YoY. 2026 growth is projected at 3.4%, to $91.8 billion.
By 2030, Niko Partners projects these regions will reach $103.6 billion, putting the CAGR at 3.1%.
The 13 countries tracked by Niko Partners account for roughly 46.3% of total global gaming revenue.
The combined player base across these regions will grow 3.5% in 2026, to 1.77 billion. By 2030, that figure will reach 1.99 billion, at a 3.1% CAGR.
China, Japan, and South Korea combined will account for $91.7 billion in revenue by 2030, representing 88.6% of the total for Asia and MENA.
China
China’s gaming market reached $51.8 billion in 2025 (+5.4% YoY), per Niko Partners, crossing the $50 billion mark for the first time.
The market is expected to continue growing 4% in 2026 (to $53.9 billion) and reach $59.8 billion by 2030. The five-year CAGR is 2.9%, indicating Niko Partners expects growth to slow considerably.
ARPU exceeded $70 for the first time in 2025. By 2030, the figure is projected to reach $77.68.
China is expected to have 769 million players by 2030.
East Asia (Japan, South Korea)
Combined revenue for these two markets was $28.2 billion in 2025 (-3.17% YoY). Niko Partners expects a return to growth in 2026, at +1.2% to $28.6 billion, with the two markets combined reaching $32 billion by 2030 (2.5% CAGR).
The 2025 decline is attributed to a drop in the Japanese market, which the modest growth of South Korea’s market wasn’t enough to offset. Japan is experiencing stagflation, which is weighing on its gaming market. Niko Partners views South Korea’s market more positively.
South Korean players had an ARPU of $371 in 2025, a striking figure, with Japan around $100 lower. The average ARPU across both countries is expected to surpass $300 by 2028.
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India
India’s market revenue reached $1.04 billion in 2025 (+14.8% YoY), crossing $1 billion for the first time. The market is forecast to grow another 14% in 2026 to $1.2 billion, reaching $1.77 billion by 2030 (11.2% CAGR).
India had 511 million players in 2025. That figure is expected to grow 7.8% in 2026 to over 550 million, reaching 707 million by 2030 (+6.7% CAGR).
Niko Partners notes that increased regulatory scrutiny of gaming has, somewhat counterintuitively, driven greater public interest, particularly among higher-spending players. India recently banned real-money gaming.
Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam)
Niko Partners estimates this region reached $5.63 billion in 2025 (+4.7% YoY). 2026 growth is projected at 4.8% to $5.9 billion, with the region reaching $7.01 billion by 2030 at an expected 4.8% CAGR.
Southeast Asia has over 300 million players, with Indonesia alone accounting for 126 million.
Thailand, the Philippines, and Indonesia are the region’s fastest-growing markets. Thailand’s market is projected to reach $2 billion next year, while Indonesia is expected to reach $1.5 billion by 2030.
Niko Partners highlights that countries in the region take very different approaches to regulation and supporting their local markets. Indonesia is introducing the IRGS rating system, Thailand is preparing the Game Industry Promotion Act, Malaysia has its Digital Creative Ecosystem Roadmap, and Vietnam continues rolling out Decree 147/2024.
MENA-3 (Egypt, Saudi Arabia, UAE)
MENA-3 revenue reached $2.15 billion in 2025 (+7.1% YoY). Growth is expected to accelerate to +7.8% YoY in 2026, reaching $2.31 billion, with the three markets combined hitting $2.94 billion by 2030 at a 6.5% CAGR.
Niko Partners expects MENA-3 to have the strongest ARPU growth among the regions covered. Currently at $10 (as of 2025), ARPU is projected to reach $38 by 2030. Looking at the UAE alone, ARPU is expected to hit $100 by 2030.
Niko Partners factors the regional conflict into its estimates, though an updated model is expected in November 2026, so growth forecasts could shift. Despite this, the firm remains positive on the region’s long-term development.