Singapore: Video Game Console Market 2025

Video Game Console Market Size in Singapore

For the fourth year in a row, the Singaporean video game console market recorded growth in sales value, which increased by 697% to $X in 2022. Overall, consumption posted a resilient expansion. Video game console consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Video Game Console Production in Singapore

In value terms, video game console production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 268% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Video Game Console Exports

Exports from Singapore

In 2022, video game console exports from Singapore expanded remarkably to X units, surging by 12% compared with 2021 figures. In general, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by 35% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, video game console exports surged to $X in 2022. Overall, exports, however, saw a mild decline. The growth pace was the most rapid in 2019 with an increase of 40% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X units), Indonesia (X units) and Hong Kong SAR (X units) were the main destinations of video game console exports from Singapore, together comprising 74% of total exports. Thailand, the Philippines, the United Arab Emirates, Paraguay and the United States lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +90.3%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Hong Kong SAR ($X) constituted the largest markets for video game console exported from Singapore worldwide, together comprising 72% of total exports. Thailand, the United Arab Emirates, the Philippines, the United States and Paraguay lagged somewhat behind, together accounting for a further 21%.

The United Arab Emirates, with a CAGR of +8.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average video game console export price amounted to $X per unit, with an increase of 14% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.1% 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 export price increased by +81.0% against 2012 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Video Game Console Imports

Imports into Singapore

Video game console imports into Singapore soared to X units in 2022, increasing by 99% against 2021. Overall, imports, however, showed a deep contraction. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, video game console imports skyrocketed to $X in 2022. In general, imports continue to indicate a mild expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest video game console supplier to Singapore, accounting for a 79% share of total imports. Moreover, video game console imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sevenfold. The third position in this ranking was held by the United States (X units), with a 1.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.1% per year) and the United States (-23.0% per year).

In value terms, China ($X) constituted the largest supplier of video game consoles (not operated by means of payments) to Singapore, comprising 64% of total imports. The second position in the ranking was taken by Japan ($X), with a 24% share of total imports. It was followed by the United States, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+21.4% per year) and the United States (-10.9% per year).

Import Prices by Country

In 2022, the average video game console import price amounted to $X per unit, reducing by -2.8% against the previous year. Over the period under review, the import price, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2018 an increase of 258%. The import price peaked at $X per unit in 2021, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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