India Is the Fastest Growing Gaming Market in Asia-10
According to a recent report, The Asia-10 Games Market by Niko Partners, India is the fastest growing gaming market in Asia-10 on the basis of revenue generation. The report includes data from ten Asian countries, namely Chinese Taipei, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Thailand, and Vietnam. The report indicates high growth potential in the coming years for the gaming industry in India and the Asian region.
Niko Partners is a market research firm that covers video games, esports, and streaming in Asia and the Middle East.
India is the largest gaming market in Asia-10 by the number of players
According to the report, India is the ‘fastest growing gaming market by revenue’. India has seen a year-on-year growth of 31.9% in revenue generation in the 2021-22 fiscal year. Indonesia comes second on the list with a 10.5% growth in year-on-year revenue generation, followed by Thailand with a 9.5% growth. However, over 77% of the total revenue generation in these ten countries (Asia-10) comes only from Japan and South Korea.
The report also states that over 50% of all gamers in Asia-10, including PC and Mobile gamers, are from India, making it the largest gaming market amongst all the countries on the basis of the number of players.
The report claims that the total revenue generated in these ten countries in the gaming market is $35.9 Billion USD in 2022. The report also forecasts that these ten countries will see a massive boost over the next five years, with the region forecasted to generate a revenue of $41.4 billion in 2026 with a five year compound annual growth rate (CAGR) of 3%. Furthermore, the report claims that there are 788.7 Million gamers in these ten countries and are forecasted to reach 1063.6 Million gamers by the end of 2026 with a five year CAGR of 8.3%.
It is important to note that the Asia-10 Games Market report excludes China from the analysis. The inclusion of China can alter the report at a significant level, as it is one of the biggest contributors to the gaming industry across the world.