Niko Partners: The 6 largest gaming markets in Southeast Asia will reach $5.8 billion in 2023

The market is developing rapidly - from both consumer and business standpoints.

Niko Partners considers Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam as the primary markets in Southeast Asia. The company refers to them as SEA-6.

Revenue

• In 2023, the market size of these countries will reach $5.8 billion. By 2027, it will grow to $7.2 billion. Niko Partners' analysts predict an average annual growth rate of 5.4%.

• Currently, Indonesia and Thailand account for 46% of the total revenue in these countries.

• In 2023, the size of the Indonesian gaming market increased by 9.9% compared to the previous year. In Singapore, during the same period, growth was 8.2%. These are the fastest-growing major markets in Southeast Asia.

• In 2023, 66.4% of the total revenue in SEA-6 countries will come from mobile devices. By 2027, the share of mobile revenue will increase to 70%.

Audience

• The number of players in SEA-6 countries in 2023 will reach 288.5 million. By 2027, this number will increase to 344 million. The average annual growth rate is 3.6%.

• Indonesia and Vietnam have the largest player populations. These two countries account for 63% of the entire gaming audience in SEA-6 countries.

Further Growth Drivers

1. Esports. The SEA-6 countries competed for medals at the 19th Asian Games in China, where esports disciplines were added. Thailand and Malaysia won the most medals in esports.

2. Government support.

3. The investment attractiveness of the region.

Source