Video games will see an accelerated rate of growth in retail constant value terms in 2023, before a gradual slowing over the course of the forecast period, as demand begins to mature. With a large, young population and a growing middle class, spending on video games will only grow as they attract more consumers across all income brackets.
Esports will continue to play a key role in driving demand for video games, moving forward. Gaming companies are expected to continue to run esports leagues and tournaments, and to work with top celebrities to increase engagement and awareness.
While video games hardware is still expected to see positive growth in constant value terms (2022 prices) over the next five years, the rate of growth is expected to slow significantly after 2025. With the increasingly advanced technology offered by smartphones, together with developments in cloud gaming, owning a video games console may not be as necessary in the future.
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Understand the latest market trends and future growth opportunities for the Video Games industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Video Games industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of video games hardware and video games software. Electronic/computerised educational toys such as Speak & Spell and LeapFrog are excluded from video games and included under pre-school. Video gaming population refers to the population that played a game at least once in the last 6 months on any covered platform. This includes players who have not spent any money on game purchases or in-game content purchases.See All of Our Definitions
This report originates from Passport, our Video Games research and analysis database.
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