Asia-Pacific: Video Game Console Market 2024

Video Game Console Market Size in Asia-Pacific

In 2022, the Asia-Pacific video game console market increased by 78% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +91.0% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Video Game Console Production in Asia-Pacific

In value terms, video game console production expanded to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.4% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 27%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Video Game Console Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas shipments of video game consoles, which increased by 2.3% to X units in 2022. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 31% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, video game console exports surged to $X in 2022. Over the period under review, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 44%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 90% of total exports in 2022. Hong Kong SAR (X units), Vietnam (X units) and Japan (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.9% from 2012 to 2022. At the same time, Vietnam (+52.3%) and Japan (+5.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +52.3% from 2012-2022. By contrast, Hong Kong SAR (-8.8%) illustrated a downward trend over the same period. While the share of China (+12 p.p.) and Vietnam (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-12.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest video game console supplier in Asia-Pacific, comprising 81% of total exports. The second position in the ranking was taken by Japan ($X), with a 10% share of total exports. It was followed by Hong Kong SAR, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +9.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+9.5% per year) and Hong Kong SAR (-3.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, surging by 13% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2017 when the export price increased by 17%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.8%), while the other leaders experienced more modest paces of growth.

Video Game Console Imports

Imports in Asia-Pacific

Video game console imports rose sharply to X units in 2022, growing by 14% on the previous year. Overall, imports, however, saw a mild downturn. The pace of growth appeared the most rapid in 2017 with an increase of 75% against the previous year. 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 skyrocketed to $X in 2022. In general, imports recorded a tangible expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 102% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Japan was the major importing country with an import of around X units, which accounted for 40% of total imports. Hong Kong SAR (X units) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Australia (13%), South Korea (6.6%), Singapore (5.7%) and Taiwan (Chinese) (4.9%). China (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to video game console imports into Japan stood at +2.8%. At the same time, China (+17.1%), South Korea (+11.9%) and Taiwan (Chinese) (+3.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +17.1% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, Singapore (-6.4%) and Hong Kong SAR (-9.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan, South Korea, China, Taiwan (Chinese) and Australia increased by +14, +4.8, +3.2, +2 and +2 percentage points, respectively.

In value terms, Japan ($X) constitutes the largest market for imported video game consoles in Asia-Pacific, comprising 40% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: Hong Kong SAR (-3.7% per year) and China (+16.9% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, surging by 2.5% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, video game console import price increased by +65.9% against 2015 indices. The pace of growth was the most pronounced in 2017 when the import price increased by 16% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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