Eastern Asia: Video Game Console Market 2024

Video Game Console Market Size in Eastern Asia

In 2022, the East Asian video game console market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, recorded a deep setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Video Game Console Production in Eastern Asia

In value terms, video game console production skyrocketed to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +70.9% against 2020 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Video Game Console Exports

Exports in Eastern Asia

For the third consecutive year, Eastern Asia recorded growth in shipments abroad of video game consoles (not operated by means of payments), which increased by 6.2% to X units in 2022. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +53.2% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, video game console exports surged to $X in 2022. Over the period under review, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 45% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X units, which was approx. 90% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), committing a 7.8% share of total exports.

China was also the fastest-growing in terms of the video game consoles (not operated by means of payments) exports, with a CAGR of +7.1% from 2012 to 2022. Hong Kong SAR (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +12 percentage points.

In value terms, China ($X) remains the largest video game console supplier in Eastern Asia, comprising 84% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +9.6%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, surging by 8.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2017 an increase of 15%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while Hong Kong SAR amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.3%).

Video Game Console Imports

Imports in Eastern Asia

In 2022, the amount of video game consoles (not operated by means of payments) imported in Eastern Asia rose to X units, increasing by 2.8% compared with the previous year. In general, imports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2017 when imports increased by 98%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, video game console imports expanded notably to $X in 2022. Overall, imports recorded a noticeable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 128% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan represented the main importing country with an import of about X units, which resulted at 57% of total imports. Hong Kong SAR (X units) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (8.4%) and China (7.1%). Taiwan (Chinese) (X units) followed a long way behind the leaders.

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 (+20.0%), South Korea (+10.8%) and Taiwan (Chinese) (+6.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +20.0% from 2012-2022. By contrast, Hong Kong SAR (-10.6%) illustrated a downward trend over the same period. While the share of Japan (+21 p.p.), China (+6.1 p.p.), South Korea (+5.9 p.p.) and Taiwan (Chinese) (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-35.7 p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported video game consoles (not operated by means of payments) in Eastern Asia, comprising 50% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total imports. It was followed by China, with a 17% share.

In Japan, video game console imports remained relatively stable over the period from 2012-2022. 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 Eastern Asia amounted to $X per unit, rising by 9.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The most prominent rate of growth was recorded in 2017 when the import price increased by 15% 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 ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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