ASEAN: Video Game Console Market 2024

Video Game Console Market Size in ASEAN

In 2022, the ASEAN video game console market increased by 80% to $X, rising for the second consecutive year after three years of decline. In general, consumption continues to indicate a slight expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Video Game Console Production in ASEAN

In value terms, video game console production skyrocketed to $X in 2022 estimated in export price. In general, production recorded a significant increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 232%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Video Game Console Exports

Exports in ASEAN

In 2022, approx. X units of video game consoles (not operated by means of payments) were exported in ASEAN; rising by 47% on the year before. Over the period under review, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 196% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, video game console exports skyrocketed to $X in 2022. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 172% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam was the major exporting country with an export of around X units, which reached 77% of total exports. It was distantly followed by Singapore (X units), comprising an 18% share of total exports. Malaysia (X units) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the video game consoles (not operated by means of payments) exports, with a CAGR of +64.3% from 2012 to 2022. At the same time, Malaysia (+44.4%) displayed positive paces of growth. By contrast, Singapore (-7.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Malaysia increased by +75 and +3.9 percentage points, respectively.

In value terms, Vietnam ($X) remains the largest video game console supplier in ASEAN, comprising 72% of total exports. The second position in the ranking was taken by Singapore ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at +62.4%. In the other countries, the average annual rates were as follows: Singapore (-1.5% per year) and Malaysia (+53.9% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, shrinking by -8.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2021 when the export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per unit, and then declined in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.6%), while the other leaders experienced mixed trends in the export price figures.

Video Game Console Imports

Imports in ASEAN

In 2022, supplies from abroad of video game consoles (not operated by means of payments) increased by 64% to X units, rising for the second year in a row after three years of decline. In general, imports, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2017 when imports increased by 64%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, video game console imports surged to $X in 2022. Overall, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore represented the key importer of video game consoles (not operated by means of payments) in ASEAN, with the volume of imports amounting to X units, which was near 58% of total imports in 2022. It was distantly followed by Thailand (X units) and Vietnam (X units), together achieving a 35% share of total imports. Malaysia (X units) and Indonesia (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to video game console imports into Singapore stood at -5.7%. At the same time, Thailand (+43.2%) and Vietnam (+11.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +43.2% from 2012-2022. By contrast, Malaysia (-13.3%) and Indonesia (-25.0%) illustrated a downward trend over the same period. Thailand (+21 p.p.) and Vietnam (+11 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Singapore and Indonesia saw its share reduced by -6%, -10.3% and -17.1% from 2012 to 2022, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported video game consoles (not operated by means of payments) in ASEAN, comprising 82% of total imports. The second position in the ranking was held by Thailand ($X), with an 8.2% share of total imports. It was followed by Malaysia, with a 4.8% share.

In Singapore, video game console imports increased at an average annual rate of +1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+34.5% per year) and Malaysia (-12.2% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, increasing by 2.2% against the previous year. In general, the import price recorded a noticeable expansion. The pace of growth was the most pronounced in 2018 when the import price increased by 118%. Over the period under review, import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform