In 2020, video games saw slightly higher current value growth than for several years. This was due to the lockdown implemented as a result of COVID-19, with consumers required to stay at home as much as possible in order to prevent the spread of the virus.
In 2020, after several years of slow decline, physical console games gained popularity, seeing a small current value rise. This was on the back of the Nintendo Switch, which was a popular entertainment option during lockdown, when more consumers turned to playing video games.
Software players continued to dominate video games in Thailand in value terms in 2020. Garena Online (Thailand) continued to lead, thanks to the strength of its portfolio of mobile and online games.
The double-digit current value growth of video games is expected to continue unabated in 2021 and in fact throughout the forecast period. Although 2020 saw marginally higher growth than in previous years of the review period due to COVID-19, growth rates equally or almost as strong are expected to continue.
Despite the expectation of a poorer performance for video games hardware than software in the forecast period, hardware is set to turn from seeing decline in most years of the review period to seeing growth in every year of the forecast period. The launch of the Sony PlayStation 5 in early 2021 is expected to drive demand for static consoles.
Offering a wide variety of games which are suitable for the local population will be key to maintaining growth in the forecast period. Thailand has one of the largest gaming populations in Southeast Asia, and as a result games designers are realising the importance of localising games to capture a larger share.
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Understand the latest market trends and future growth opportunities for the Video Games industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Video Games research and analysis database.
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