E-Gaming’ Significant Market Development in Singapore

With 45 percent of the world’s players residing in the area, Asia is the largest and most competitive e-games industry. E-gaming encompasses the electronic gaming industry, from traditional video game consoles to personal computers and mobile devices, online streaming services, and e-sports. Electronic sports, sometimes known as e-sports, are the competitive and professional gaming side of the e-gaming industry. The Southeast Asian gaming market is projected to double between 2017 and 2023, focused on Singapore video games industry.

While modest, Singapore’s gaming sector has a lot of room for expansion. Singapore is a significant participant in the Southeast Asian games business thanks to players’ USD327 million (2019) spending on games. Almost a fifth of all online users (or about 3.8 million gamers) checked out e-sports, and nearly half of all internet users watched some video game content. Games that are “time fillers” make up about 23% of all games played in Singapore (games played on mobile phones to fill time). This country’s games and e-sports sector was predicted to increase by 15% between 2019 and 2020 to reach around 220 game-related businesses.

According to a 2020 Rakuten Insight poll, 74 percent of males and 68 percent of women in the internet population play mobile games. Similarly, 40% of female respondents preferred MMORPGs and real-time strategy games (MMORPG). In addition, 68% of those who participated were between the ages of 25 and 34, while 72% were in the sweet spot of youth between 16 and 24.

Singapore’s capacity to stage important e-sports competitions aids in the regional market’s growth. The first Global e-Sports Games, the Mobile Legends Bang Bang M2World Championship, the ONE E-sports DOTA 2 Singapore Major, the First Global Wild Rift event and more were hosted. Singapore’s robust technology and corporate infrastructure mean more events will occur (commercial 5G).

In Singapore, the games industry employed roughly 2,000 employees in 2021 for business development, UI/UX design, product management, and content production. Technologies like blockchain, metaverses, user-generated content, NFTs, artificial intelligence, and more will all play a role in shaping the gaming future.

Several American businesses are successful in the e-gaming and e-sports industries, and they should be aware that the sector will provide plenty of chances and room for expansion. Singapore is eager to use e-sports to promote physical activity and cater to the needs of those with impairments, according to Digital Therapeutics (DTx). In addition, E-sports provide training possibilities by instilling qualities related to collaboration and innovation. The gaming platform could benefit the animation, cinema, architecture, and automotive sectors.