Games - Thailand

Thailand

The Games market in Thailand is expected to experience significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach €646.50m by 2022.
This indicates a promising future for the Games market industry in Thailand.
Furthermore, the market is anticipated to continue expanding at an annual growth rate of 7.43% from 2022 to 2027.
This steady growth is expected to result in a market volume of approximately €884.70m by 2027.
When it comes to revenue sources within the Games market, in-app purchases (IAP) are projected to contribute significantly.
In 2022, the revenue from in-app purchases is expected to reach €538.70m.
This highlights the popularity and monetization potential of in-app purchases in the gaming industry.
Paid app revenue is also expected to make a notable contribution to the overall revenue in the Games market.
In 2022, it is projected to reach €13.82m.
This indicates that there is still a market for paid gaming apps despite the rise of free-to-play models.
Additionally, advertising revenue within the Games market is projected to reach €93.96m in 2022.
This suggests that advertising is another significant revenue stream for game developers and publishers in Thailand.
In terms of user engagement, the number of game downloads is expected to reach 1,658.00m downloads in 2022.
This showcases the popularity of gaming among Thai consumers and the potential audience for game developers and publishers.
Currently, the average revenue per download stands at €0.39.
This metric provides insights into the monetization efficiency of games within the Thai market.
When comparing the Games market globally, it is worth noting that in China generates the highest revenue.
In 2022 alone, in China is projected to generate a staggering €59.65bn in revenue.
This emphasizes the size and significance of the Chinese gaming market on a global scale.
In summary, the Games market in Thailand is expected to experience substantial growth in the coming years.
With increasing revenue projections, a diverse range of revenue sources, and a large user base, the future looks promising for the gaming industry in Thailand.

Key regions: Europe, India, United States, South Korea, Asia

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Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.