SEA’s esports market is expected to hit $72.5 million by 2024

Southeast Asia gained the attention of esports videogame developers as the expectations for the market to reach $72.5 million in revenue by 2024 are getting real.

It is believed that the market will become more and more competitive leading to game developers to bring up new ideas and strategies to the table.

A report by Tencent and Newzoo shows the fast growth rate of mobile gaming in Southeast Asia being 20.8% compared to a global compound annual growth rate of only 11.1%!

Based on the report, about 39% of gamers in Southeast Asia use phones as their first choice when it comes to gaming platforms and more than 80% of the general population play mobile games.

Another important point highlighted in the report showed that Esports is building up as a good choice in a career path. The young, talented players may have a really good place to grow and become popular.

Why is this happening?

This happens because gaming computers and consoles are seen as an unaffordable luxury for the majority. On the other hand, mobile phones are cheap and more people prefer using them rather than a PC.

Another reason is the fast development of the best quality internet. They already start working at the 5G network in Indonesia, Malaysia, Singapore, and Thailand.

Even if it sounds hilarious at first, mobile games have the advantage of being easy to access from everywhere. People can play their favorite game while they are stuck in traffic jams or wait for their doctor’s appointment.

What do they play?

It seems that the most popular gaming titles in SEA are PUBG Mobile, Mobile Legends: Bang Bang, and Garena Free Fire.

The first three countries in SEA by the largest audience for esports are Singapore, Vietnam and the Philippines.

Esports has grown into a global business quickly. Companies like One Esports, Bigetron, and Game.tv are working on new ways to reach younger audiences.

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See Newzoo study here