Esports Boom in Southeast Asia
Southeast Asia is another up-and-coming market that many big gaming companies are entering aggressively. This is the fastest-growing region for gaming in the world, with approximately 310 million gamers spread across Indonesia, Malaysia, Thailand, Vietnam, Singapore and The Philippines. This rapid growth is attributed to the market’s appetite for mobile gaming and the extensive deployment of 5G networks.. The number of mobile online gamers in Southeast Asia is 250 million, making up about 82% of the total gaming regional population.
At the end of 2019, Southeast Asia’s esports audience reached nearly 30 million and generated game revenues of $4.4 billion, with 16% Year-over-Year growth. The mobile segment alone generated $3.1 billion, which accounts for 71% of the total revenues (Statista). The market size continues to expand and is expected to reach 476 million gamers, generating an revenue of US$8.3 billion by 2023.
Although opportunities in Asia are endless, the market is also fiercely competitive. Therefore to sustain a profitable esports business in this fragmented region definitely requires deep insights into value creation and diversification to generate effective growth.