Singapore: Video Game Console Market 2024

Video Game Console Market Size in Singapore

In 2022, the Singaporean video game console market increased by X% to $X, rising for the second consecutive year after five years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Video Game Console Production in Singapore

In value terms, video game console production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Video Game Console Exports

Exports from Singapore

In 2022, the amount of video game consoles (not operated by means of payments) exported from Singapore reached X units, growing by X% on 2021. In general, exports, however, saw a abrupt descent. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, video game console exports rose sharply to $X in 2022. Overall, exports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units), Indonesia (X units) and the Philippines (X units) were the main destinations of video game console exports from Singapore, together comprising X% of total exports. Thailand, Hong Kong SAR, the United States, India and Uruguay lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for video game console exported from Singapore were Malaysia ($X), Indonesia ($X) and the Philippines ($X), with a combined X% share of total exports. Thailand, Hong Kong SAR, the United States, India and Uruguay lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, India, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average video game console export price stood at $X per unit in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, the export price reached the peak level of $X per unit, and then fell slightly in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per unit) and Malaysia ($X per unit), while the average price for exports to Uruguay ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Video Game Console Imports

Imports into Singapore

In 2022, overseas purchases of video game consoles (not operated by means of payments) increased by X% to X units, rising for the second consecutive year after eight years of decline. Overall, imports, however, recorded a deep downturn. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, video game console imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a mild slump. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of video game console to Singapore, with a X% share of total imports. Moreover, video game console imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of video game consoles (not operated by means of payments) to Singapore, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average video game console import price amounted to $X per unit, approximately mirroring the previous year. Over the period under review, the import price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2021, and then contracted modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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