Asia: Video Game Console Market 2023

Video Game Console Market Size in Asia

In 2022, the Asian video game console market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, showed a perceptible slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Video Game Console Production in Asia

In value terms, video game console production skyrocketed to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +71.9% against 2019 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Video Game Console Exports

Exports in Asia

For the third year in a row, Asia recorded growth in overseas shipments of video game consoles (not operated by means of payments), which increased by 7.5% to X units in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.5% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 30%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, video game console exports surged to $X in 2022. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, accounting for X units, which was near 86% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), achieving a 7.4% share of total exports. Vietnam (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +7.1% from 2012 to 2022. At the same time, Vietnam (+64.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +64.3% from 2012-2022. By contrast, Hong Kong SAR (-3.2%) illustrated a downward trend over the same period. China (+10 p.p.) and Vietnam (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -10.6% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest video game console supplier in Asia, comprising 81% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +9.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-3.3% per year) and Vietnam (+62.4% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, rising by 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2017 when the export price increased by 15% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.3%), while the other leaders experienced a decline in the export price figures.

Video Game Console Imports

Imports in Asia

In 2022, overseas purchases of video game consoles (not operated by means of payments) increased by 3.8% to X units, rising for the second consecutive year after three years of decline. In general, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 84%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, video game console imports rose notably to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.0% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 97%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Japan was the main importing country with an import of around X units, which resulted at 40% of total imports. It was distantly followed by Hong Kong SAR (X units), the United Arab Emirates (X units), Singapore (X units), South Korea (X units) and China (X units), together creating a 41% share of total imports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to video game console imports into Japan stood at +2.8%. At the same time, China (+20.0%), South Korea (+10.8%) and Taiwan (Chinese) (+6.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of +20.0% from 2012-2022. By contrast, the United Arab Emirates (-4.6%), Singapore (-5.7%) and Hong Kong SAR (-10.6%) illustrated a downward trend over the same period. While the share of Japan (+15 p.p.), China (+4.3 p.p.), South Korea (+4.1 p.p.) and Taiwan (Chinese) (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-2.2 p.p.), Singapore (-3.3 p.p.) and Hong Kong SAR (-25 p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported video game consoles (not operated by means of payments) in Asia, comprising 40% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: Hong Kong SAR (-3.7% per year) and China (+16.9% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, rising by 6.5% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The pace of growth was the most pronounced in 2018 when the import price increased by 11% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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