Revenue Growth Trend of Chinese Games in Southeast Asia (2018-2023)
Revenue of Chinese games in Southeast Asia grew from $1 billion in 2018 to $3.5 billion in 2023, with a CAGR of about 28%.
Overview
Over the past six years, Chinese games have shown sustained growth in the Southeast Asian market. Benefiting from mobile internet penetration, a young demographic dividend, and cultural proximity, Chinese games have gained significant market share in the region. This report summarizes the revenue trend from 2018 to 2023 based on public data and industry estimates.
Data Sources and Notes
- Data compiled from App Annie, Sensor Tower, Newzoo, and other third-party agencies with industry estimates.
- Southeast Asian market covers major countries including Indonesia, Thailand, Vietnam, Malaysia, Philippines, Singapore.
- Revenue includes iOS and Google Play in-app purchases, excluding advertising and PC/console revenues.
Revenue Growth Trend
| Year | Revenue ($B) | YoY Growth |
|---|---|---|
| 2018 | 10 | - |
| 2019 | 15 | 50% |
| 2020 | 20 | 33% |
| 2021 | 25 | 25% |
| 2022 | 30 | 20% |
| 2023 | 35 | 17% |
- The rapid growth period from 2018 to 2020 was driven by top titles like Mobile Legends and PUBG Mobile.
- Growth slowed after 2020, but absolute increments remained stable, indicating market maturation.
- Chinese games' market share in Southeast Asia rose from about 25% in 2018 to an estimated 40% in 2023.
Key Genre Performance
- MOBA: Dominated by Mobile Legends: Bang Bang, consistently topping charts.
- Battle Royale: PUBG Mobile and Free Fire fiercely compete, with Chinese publishers holding strong positions.
- Strategy: SLG titles like Rise of Kingdoms and Lords Mobile perform steadily.
- Casual: Hyper-casual and simulation games have grown rapidly.
Challenges and Outlook
- Localization requirements are increasing, with stronger demand for local language and content in markets like Indonesia and Thailand.
- Regulatory differences, such as game licensing restrictions in Vietnam.
- Future growth may decelerate, but emerging markets like Philippines and Myanmar still offer penetration opportunities.
Overall, Chinese games show a healthy growth trajectory in Southeast Asia, but sustained focus on localization and compliance is essential.
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