The number of gamers is approaching two billion globally, and the Asia Pacific is responsible for more than 80% of it. As the world’s largest and fastest-growing gaming market, Asia is expected to witness a surge in revenue and the number of users in the following years.
According to data presented by Mejores Apuestas, Asian gaming revenues are set to grow by 15% YoY to nearly $87.5bn in 2021. By 2023, this figure is forecast to jump by another 25% and hit $108.8bn, more than American and European revenues combined.
Asian Gaming Industry Grew by 42% Since the Pandemic Hit
The Asian gaming industry was thriving even before 2019. But after the pandemic hit, revenues and the number of users surged reaching new record highs.
In the last two years, Asian gaming revenues jumped by an impressive 42%, rising from $61.3bn in 2019 to $87.5bn in 2021. Americas, as the second-largest gaming market, saw their revenues grow by 35% to $38.5bn in this period. Europe follows with a 37% revenue increase and $23.5bn in revenue in 2021.
By 2023, the Asian revenues are expected to grow by another $21.4bn, and by 2025 the entire market is forecast to reach $125.3bn value. The gaming revenues in the Americas and Europe are set to grow by 22% and 21% in this period, respectively.
Within the region, China, Japan, and South Korea lead the gaming markets. The Chinese video game industry revenue keeps breaking its record, in which it has doubled itself in five years. Statistics show China is expected to generate $49.3bn or 56% of total Asian gaming revenues this year and hit 780 million active users. By 2023, the entire market is expected to grow by another 25% and hit a $61.9bn value.
Japan, the home to gaming giants such as Nintendo and Namco Bandai, is the second-largest gaming market in the Asia Pacific, forecast to reach $21.2bn value by 2023, up from $18.2bn in 2021. South Korea, as the third-largest market in the region, is expected to hit a $7.6bn value in the next two years.
Mobile Games Generate 77% of Total Revenues, Entire Segment to Hit $86B Value by 2023
Along with the increasing use of smartphone users, mobile gaming market value in the region has soared in recent years, which posed significant changes in the landscape of gaming in the Asia Pacific.
In 2021, more than one billion people from Asian countries are expected to play mobile games and spend over $68bn on gaming apps. Over the next two years, revenues are forecast to grow by 26% to around $86bn.
Online games, the second-largest segment of the gaming market in Asia, are set to reach $14.5bn value in the next two years, compared to $12.5bn in 2021. Download games follow, with $6.9bn in revenue by 2023, a 15% increase in two years.
The Statista survey also showed nearly 1.7bn people in the Asia Pacific will play video games by 2023, up from 1.51bn in 2021, with a penetration rate of 37.3%.
