KOREA FOUNDATION

COVER STORY

Recently, Niko Partners, a research firm specializing in the gaming market, released a positive report that the ASEAN gaming market, which has expanded explosively over the past decade, is still showing immense and rapid growth. The combined gaming population of the six major ASEAN countries (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Viet Nam) is 270 million. It has a market size of $5 billion (KRW 7.1 trillion) and is expected to grow 8.6% per year on average from 2020 to 2025. Although the ASEAN gaming market is 19% smaller than the entire Asian market, including China and South Korea, it is still growing expanding rapidly and is positively assessed as a market with high growth expectations.

Factors that could facilitate continued development of the game market in ASEAN include upgrading the communication infrastructure from 4G to 5G, diversifying payment options for purchasing in game items, active investment by multinational companies and governments, revitalization of the market due to increasing income in emerging ASEAN emerging countries, and a youth-oriented population structure.

It is also positive that E-Sports is being established as the mainstay of the ASEAN games market. There are a growing number of professional athletes and E-Sports spectators who participate in the games as a sporting event instead of something to be enjoyed alone at home.

The contents of all articles may differ from the editorial direction of the KF ASEAN Culture House Monthly.