Overcoming many prejudices and limitations of management policies, the gaming industry is aiming for a billion-dollar revenue target, contributing to encouraging investment and developing domestic and international markets.
Many steps forward with the gaming industry
Nowadays, playing games and making games go hand in hand, it can be said that a profession is being recognized by society. At the SEA Games, e-sports is a competition that many people look forward to. The gaming industry also has close ties with other industries such as hardware development, mobile, telecommunications networks, etc.
In the Southeast Asian market, the gaming industry's revenue has jumped from 2.4 billion USD in 2019 to more than 5.3 billion USD in 2023. Notably, countries with a fairly developed gaming industry in the region such as Thailand and Indonesia have lower annual growth rates than potential countries such as Malaysia and Vietnam. There are currently more than 220 gaming businesses licensed to operate in Vietnam.
These companies invest in technology development, no longer developing games on computers as before but switching to mobile devices and other digital spaces. Game ecosystems have even appeared with big names such as Axie Infinity, Amanotes, Topebox, OneSoft… creating the potential to compete in the international game market.
According to a recent report by Google, Vietnam is in the top 5 in terms of game publishing in the world with 4.2 billion game downloads on applications. It is expected that in 2026, revenue from games and applications in Vietnam will reach 2.7 billion USD. According to data from a number of market research companies, Vietnam in particular and Southeast Asia in general are the regions with the highest growth rate of mobile games in the world, at 7.4%/year in the period 2022-2025.
With innovation linked to global technology trends, the gaming industry has taken a new step forward and promises to bring value to the economy. Therefore, the Ministry of Information and Communications has set a target that in the next 5 years (by 2030), the Vietnamese gaming industry will reach the revenue milestone of 1 billion USD.
Build more systematically
Recently, the Department of Radio, Television and Electronic Information (Ministry of Information and Communications) has had many activities to promote the implementation of the revenue target of 1 billion USD for the game industry; listening to the opinions of businesses, finding directions for healthy development of the game industry...
There are two gaming markets that Vietnam can learn from: Korea and China. In 2018, Korea established a digital content management and development agency called Kocca with the role of supporting the Government and Korean game developers in content development, creating conditions for domestic game development and reaching out globally. Meanwhile, China recognized eSports as one of 1,900 professions with titles and many good job positions. This country also has the first majors in eSports…
Mr. Nguyen Ngoc Bao, General Director of VTC Game Multimedia Corporation, said that a new field called eSports has emerged in the country. This field can become a spearhead in the digital economy, with an annual growth rate of 8.1% and is expected to have 640 million followers of this sport by 2025. Meanwhile, a representative of VNG Corporation said that in countries like Malaysia, Indonesia, Singapore, etc., there are 3 factors leading to the success of the gaming industry: support from the Government, strong cooperation from the Gaming Industry Association and the excitement of the gaming programming community.
“Game development and publishing businesses and the gaming community hope to soon have incentives to create openness and convenience for the sustainable development of the gaming industry as well as promote creative values,” said a VNG representative.
According to Mr. Le Quang Tu Do, Director of the Department of Radio, Television and Electronic Information (Ministry of Information and Communications), in order for the gaming industry to reach the desired 1 billion USD, it is necessary to build a good foundation in parallel with the right policies; promote international connections so that foreign businesses and investors can see that the Vietnamese market is a potential market.
“The Ministry of Information and Communications, the Department of Radio, Television and Electronic Information and related units have been building important foundations. In particular, the foundation of this industry is training. Currently, the Vietnam Academy of Posts and Telecommunications trains the game industry in a formal university-level direction; and VTC Corporation trains skilled human resources, creating an abundant and highly qualified human resource in games. It is necessary to change society's prejudices about the game industry so that games are an industry that creates values; parents have a perspective for their children to study and work in games such as game programming, game graphics, game design... and from there to create famous startups in the future", Mr. Le Quang Tu Do expressed.
According to market research company Newzoo, Southeast Asia is the region with the second highest growth rate of mobile games in the world, averaging about 7.4%/year in the period 2022-2025. In Vietnam, there are 54.6 million gamers, revenue in 2023 is 507 million USD, in which the game segment related to eSports has achieved many high achievements.
BA TAN
Source: https://www.sggp.org.vn/nganh-cong-nghiep-game-huong-den-doanh-thu-ty-usd-post741153.html
Comment (0)