The player count is approaching two billion worldwide, and the Asia Pacific owns more than 80% of that. Asia, the world’s largest and fastest-growing games market, is expected to witness an increase in revenue and player numbers in the coming years.
According to data provided by MejoresApuestas, game revenues in Asia are expected to grow by 15% year-over-year to reach approximately $87.5 billion in 2021. By 2023, this figure is expected to increase by another 25% to $108.8 billion, more than the United States and Europe.
Asian market has grown 42% in the gaming industry since the pandemic
The Asian gaming industry was growing massively even before 2019. However, with the restrictions and quarantine brought by the pandemic, they came and the number of users increased and reached new record levels.
Over the past two years, game revenues in Asia have increased by an impressive 42%, from $61.3 billion in 2019 to $87.5 billion in 2021. America, the second-largest gaming market, saw revenues in this market increase 35% to $38.5 billion during the same period. Europe follows with 37% revenue growth and $23.5 billion in revenue in 2021.
By 2023, Asian revenues are expected to increase by another $21.4 billion, and the entire market is expected to reach a value of $125.3 billion by 2025. Game revenues in the Americas and Europe are expected to grow by 22% and 21% respectively during this period.
In the region, China, Japan and South Korea lead the game markets. Chinese video game industry revenue continues to break its record, doubling itself in five years. Statistics show that China is expected to generate $49.3 billion, or 56%, of total gaming revenues in Asia this year, reaching 780 million active users. By 2023, the entire market is expected to grow another 25% and reach a value of $61.9 billion.
Home to game giants like Nintendo and Namco Bandai, Japan is the second-largest game market in the Asia Pacific and is estimated to reach $21.2 billion by 2023, from $18.2 billion in 2021. South Korea, the third-largest market in the region is expected to reach a value of $ 7.6 billion in the next two years.
Mobile games account for 77% of total revenue
With the increasing use of smartphones, the mobile gaming market value in the region has increased in recent years, resulting in significant changes in the gaming landscape in the Asia Pacific.
In 2021, more than one billion people from Asian countries are expected to play mobile games and spend over $68 billion on gaming apps. In the next two years, revenues are expected to increase by 26% to reach approximately $86 billion.
Online games, the second largest segment of the games market in Asia, will reach $14.5 billion over the next two years, compared to $12.5 billion in 2021.
The Statista survey also showed that approximately 1.7 billion people in the Asia Pacific will play video games by 2023, up from 1.51 billion in 2021.