Before COVID-19, video game sales were already growing significantly, especially with the introduction of e-sports competitions and publishers’ initiatives to make active marketing campaigns through social media. When the Singapore government decided to enforce lockdown in Q2 2020, it accelerated the industry to new heights as consumers sought to occupy their time while staying at home.
During the pandemic, mobile games have become an obvious choice for consumers who have never jumped into gaming before. A major draw of mobile games is the fact that most start off free with an option to purchase in-app along the way.
One of the main lockdown highlights in 2020 has been the rising popularity of the Animal Crossing game globally, boosting sales of both Nintendo Switch and Switch Lite. Singapore was no exception, with consumers rushing to buy both products in media products stores and e-commerce.
Singapore’s fast COVID-19 response meant that the country only had 1-2 cases per day by the end of 2020. While this did not lead to the reopening of borders, Singapore became seen as a relatively safe place to hold global events.
Despite the discussion about cloud gaming taking over static consoles, the latter will continue to register strong growth in the early forecast period. With the long waiting list for PlayStation 5, the company will only manage to deliver products to all customers on the waiting list by the end of 2021 or early 2022.
While e-sports and video games software have support from the government and various media, growth in Singapore will hugely depend on local publishers investing in the industry. Garena Interactive Holding Ltd is a local company which has huge popularity all around the world.
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This report originates from Passport, our Video Games research and analysis database.
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