Vietnam's gaming industry isn't just playing around, as proven by a market that soared to $456 million in revenue in 2023, powered by a mobile-first audience and explosive growth that's positioning the country as the next major player on the global stage.
Key Takeaways
- In 2023, Vietnam's gaming market revenue reached $456 million, marking a 12.5% year-on-year growth driven primarily by mobile games
- Mobile gaming accounted for 72% of total gaming revenue in Vietnam in 2023, totaling approximately $328 million
- PC gaming revenue in Vietnam grew by 15% in 2023 to $85 million, fueled by esports and online titles
- Vietnam had 52 million gamers in 2023, with 90% playing on mobile devices daily
- 48% of Vietnam's gamers were female in 2023, highest in Southeast Asia
- Average age of gamers in Vietnam was 24 years old in 2023, with Gen Z comprising 65%
- Vietnam had 1,200 game development studios in 2023, up 20% from 2022
- VNG Corporation published 50+ titles, employing 2,000 developers in 2023
- Garena Vietnam led with 5 million DAU on Free Fire, 1,500 staff in 2023
- Free Fire by Garena had 25 million MAU in Vietnam in 2023
- PUBG Mobile downloads: 50 million lifetime in Vietnam by 2023
- Mobile Legends: Bang Bang peaked at 12 million DAU in 2023
- Vietnam invested $150 million in gaming startups in 2023, up 40% YoY
- VNG raised $200M from Tencent for expansion in 2023
- Garena secured $100M for esports infrastructure 2023
Vietnam's gaming market is growing rapidly, driven primarily by strong mobile revenue.
Developer Ecosystem
- Vietnam had 1,200 game development studios in 2023, up 20% from 2022
- VNG Corporation published 50+ titles, employing 2,000 developers in 2023
- Garena Vietnam led with 5 million DAU on Free Fire, 1,500 staff in 2023
- Amanotes, mobile music game dev, raised $25M and had 100M downloads in 2023
- Circo Games developed 10 hyper-casual hits with 500M downloads total in 2023
- 70% of studios were indie with <50 employees in Vietnam 2023
- Hanoi hosted 400 studios, focusing on PC/console dev in 2023
- HCMC had 600 studios, 80% mobile-focused in 2023
- Da Nang emerging hub with 100 studios, government-backed in 2023
- Average developer salary in Vietnam was $800/month in 2023, 30% below regional average
- 15,000 game developers employed nationwide in 2023, growth of 25% YoY
- Unity engine used by 65% of Vietnamese studios in 2023
- Unreal Engine adoption at 20%, mainly for PC games in 2023
- 40% of devs had university degrees in CS/game design in 2023
- Government GDV program trained 5,000 devs in 2023
- 200 studios exported games to global markets in 2023, earning $50M
- Local studios published on Google Play with 300M downloads in 2023
- App Store featured 150 Vietnamese games in top charts 2023
- 25 mergers/acquisitions in gaming sector in 2023
- Incubation programs supported 100 startups with $10M funding in 2023
- 60% of studios used outsourcing for art/animation in 2023
- Blockchain game devs numbered 50, focusing Web3 in 2023
- VR/AR studios: 30 active, with 5 commercial titles in 2023
- Women developers: 25% of workforce in 2023, up 10% YoY
- Average game dev cycle: 6-12 months for mobile titles in 2023
Developer Ecosystem Interpretation
Vietnam's game industry in 2023 was a thriving, slightly chaotic digital bazaar where a legion of nimble indie studios, powered by affordable talent and government training, cranked out mobile hits for the world while a few homegrown giants proved they could not only build massive audiences but also attract serious investment, all despite paying their developers in what essentially amounted to regional pocket change.
Game Preferences and Genres
- Free Fire by Garena had 25 million MAU in Vietnam in 2023
- PUBG Mobile downloads: 50 million lifetime in Vietnam by 2023
- Mobile Legends: Bang Bang peaked at 12 million DAU in 2023
- Lien Quan Mobile (Arena of Valor local) had 18 million players in 2023
- Roblox user base grew to 8 million in Vietnam 2023
- Genshin Impact earned $30M IAP from Vietnam in 2023
- Among Us revived with 5 million downloads in late 2023 Vietnam
- Candy Crush Saga: 10 million MAU, mostly female players 2023
- Clash of Clans strategy fans: 7 million active in 2023
- AFK Arena idle RPG: 4 million DAU in Vietnam 2023
- Hyper-casual like Voodoo titles: 300M downloads total 2023
- Honor of Kings influenced local MOBAs with 15M players 2023
- Call of Duty Mobile FPS: 6 million MAU esports fans 2023
- 60% of players preferred battle royale genre in 2023 survey
- RPG/gacha games: 35% market share by playtime 2023
- MOBA genre dominated competitive play at 50% esports viewership 2023
- Casual puzzles: 25% of daily sessions for females 2023
- Sports sims like FIFA Mobile: 3 million peak during tournaments 2023
- Survival games like Last Day on Earth: 2M DAU 2023
- Music/rhythm games by Amanotes: 100M downloads 2023
- MMORPGs on PC like Black Desert: 1M active 2023
- Local dev hit Axie Infinity peaked 2M DAU pre-2023 crash
- 40% players tried Web3 games in 2023
- Short-session games (<10min) preferred by 70% casuals 2023
- Social deduction games rose 200% post-Among Us 2023
- Battle pass adoption: 55% in top MOBAs 2023
Game Preferences and Genres Interpretation
Vietnam's gaming scene in 2023 was a masterclass in controlled chaos, where 25 million people could be quietly building a base in Clash of Clans one minute and then frantically battling in a MOBA the next, all while a staggering 300 million hyper-casual downloads proved our collective attention span is both infinite and exactly ten seconds long.
Investments and Growth
- Vietnam invested $150 million in gaming startups in 2023, up 40% YoY
- VNG raised $200M from Tencent for expansion in 2023
- Garena secured $100M for esports infrastructure 2023
- Amanotes got $12M Series B from IMBC and Beenext 2023
- Circo Games raised $5M seed for hyper-casual scaling 2023
- Government allocated 500B VND ($20M) to GDV program 2023-2025
- FDI in gaming reached $80M from Japan/Korea in 2023
- Esports prize pools totaled $10M in Vietnam tournaments 2023
- VNG Arena esports center cost $15M opened in HCMC 2023
- Market CAGR projected at 14% to 2028 reaching $1B
- 5G rollout to boost gaming growth by 20% annually post-2023
- Game exports grew 30% to $100M in 2023
- Tax incentives for game devs extended to 2030, saving $10M yearly
- 50 new gaming parks planned with $200M investment by 2025
- VC firms like 500 Startups invested $30M in 10 studios 2023
- Blockchain gaming funds poured $20M into NFT projects 2023
- Education investments: 10 new game dev unis by 2025, $50M
- Streaming platforms like YouTube Gaming saw 1B hours viewed 2023
- Merch sales from esports teams hit $5M in 2023
- Cloud gaming infra investment $10M by Viettel 2023
- International partnerships: 20 with Japan studios 2023
- Growth in dev tools market: $15M spend by studios 2023
- Projected 60,000 jobs by 2025 from industry expansion
Investments and Growth Interpretation
Vietnam’s gaming sector is no longer playing around, with investors, the government, and a surge of startups collectively hitting the 'funding round' button so hard that the entire industry is leveling up from a passionate side quest into a serious economic power-up.
Market Revenue and Size
- In 2023, Vietnam's gaming market revenue reached $456 million, marking a 12.5% year-on-year growth driven primarily by mobile games
- Mobile gaming accounted for 72% of total gaming revenue in Vietnam in 2023, totaling approximately $328 million
- PC gaming revenue in Vietnam grew by 15% in 2023 to $85 million, fueled by esports and online titles
- Console gaming in Vietnam represented only 4% of the market in 2023, generating $18 million due to high hardware costs
- Vietnam's in-app purchase revenue from games hit $250 million in 2023, with 60% from free-to-play titles
- The gross gaming revenue (GGR) from online casinos and betting apps in Vietnam reached $120 million in 2023 despite regulations
- Vietnam ranked 23rd globally in gaming revenue in 2023 with $456 million, up from 28th in 2022
- Average revenue per gamer in Vietnam was $8.50 in 2023, lower than the global average of $25 due to freemium models
- Gaming ad revenue in Vietnam surged 25% to $45 million in 2023, mainly from rewarded video ads in mobile games
- Vietnam's gaming market is projected to reach $800 million by 2027 with a CAGR of 14.2%
- In Q4 2023, Vietnam's game downloads totaled 150 million, led by hyper-casual and RPG genres
- Subscription-based gaming services generated $12 million in Vietnam in 2023, growing 30% YoY
- Vietnam's cloud gaming revenue was $5 million in 2023, with 1 million active users
- Merchandise and esports-related gaming revenue added $30 million to Vietnam's market in 2023
- Vietnam's female gamers contributed 45% of total gaming revenue in 2023, up from 35% in 2020
- Ho Chi Minh City's gaming revenue share was 55% of national total in 2023 at $251 million
- Hanoi contributed 25% to Vietnam's gaming revenue with $114 million in 2023
- Rural areas accounted for 20% of gaming revenue growth in 2023 due to 5G expansion
- Vietnam's battle royale games generated $100 million in 2023, led by Free Fire and PUBG Mobile
- MOBA games like Mobile Legends contributed $80 million to revenue in 2023
- RPG titles earned $90 million in Vietnam in 2023, with gacha mechanics driving 70% of IAP
- Hyper-casual games saw 200 million downloads but only $15 million revenue in 2023 due to low ARPU
- Simulation games generated $25 million from titles like AFK Arena in Vietnam 2023
- Strategy games revenue hit $40 million in 2023, boosted by Clash of Clans clones
- Sports games like eFootball contributed $10 million in Vietnam 2023
- Puzzle games revenue was $20 million in 2023, with Candy Crush Saga leading
- Vietnam's gaming market penetration reached 50% of population in 2023
- Total gaming spend per capita was $4.50 in 2023 for Vietnam
- Esports betting added $50 million to ancillary gaming revenue in 2023
- Vietnam's game publishing revenue from local titles was $60 million in 2023
Market Revenue and Size Interpretation
While holding its console ambitions hostage to high prices, Vietnam's gaming market sprinted ahead on the backs of thrifty mobile players, proving that a small average spend per gamer can still fuel a $456 million juggernaut poised to nearly double by 2027.
Player Demographics
- Vietnam had 52 million gamers in 2023, with 90% playing on mobile devices daily
- 48% of Vietnam's gamers were female in 2023, highest in Southeast Asia
- Average age of gamers in Vietnam was 24 years old in 2023, with Gen Z comprising 65%
- 35% of gamers in Vietnam were under 18 in 2023, driving hyper-casual playtime
- Urban gamers made up 60% of total players in Vietnam 2023, averaging 2 hours daily playtime
- Rural gamers increased to 40% in 2023, with average session 1.5 hours on affordable smartphones
- 75% of Vietnamese gamers played multiplayer games weekly in 2023
- Casual gamers represented 70% of player base in Vietnam 2023, playing 5+ games monthly
- Hardcore gamers were 15% of total, spending 20+ hours weekly on PC/console in 2023
- 82% of gamers in Vietnam used Android devices exclusively in 2023
- iOS gamers were 15% in Vietnam 2023, higher IAP spend at $15 per user monthly
- 25 million gamers in Ho Chi Minh City in 2023, 48% female
- Hanoi had 15 million gamers in 2023, average age 23
- Students comprised 40% of gamers aged 18-24 in Vietnam 2023
- Working adults 25-34 were 30% of gamers, averaging $5 monthly spend in 2023
- 55% of gamers played during evenings (6-10 PM) in Vietnam 2023
- Weekend playtime spiked 50% higher than weekdays for 80% of gamers in 2023
- 65% of female gamers preferred RPGs and simulations in Vietnam 2023
- Male gamers dominated esports viewing at 70% in Vietnam 2023
- 20% of gamers were parents playing family-oriented games in 2023
- Low-income gamers (<$500/month) were 50% of base, using free WiFi cafes
- High-income gamers (>$1000/month) spent 5x more on IAP in 2023
- 40% of gamers multitasked with social media while playing in 2023
- Daily active gamers hit 35 million in Vietnam Q4 2023
- Monthly active users for top 10 games averaged 10 million per title in 2023
- 30% of gamers subscribed to game boosters/VPNs in 2023 for better ping
Player Demographics Interpretation
Vietnam's gaming scene in 2023 was a vibrant, mobile-first democracy, ruled by a young, gender-balanced majority whose casual, social habits on affordable devices masked the serious economic influence and dedicated passions of its diverse player base.
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