Asia-pacific online gaming market to reach $3.6 bln by 2010
Singapore totaled $1.2 mln in subscription revenue in online gaming in 2005, growing by approximately 30% over 2004. In 2005, Singapore held a 0.1% market share of the APEJ region’s total subscription revenue of $1.39 bln, where online gaming service providers often “overlooked” the potential of Singapore for other larger, more robust gaming markets such as Thailand, Malaysia, Indonesia, and the Philippines. The region’s market is expected to grow at a compound annual growth rate of 21% from 2006 to 2010 reaching $3.6 bln by 2010. The growth is driven by the rapidly increasing numbers of varied players in the online gamers ecosystem. Telecommunications service providers, online game developers, and even traditional information and communication technology (ICT) vendors are showing growing interest in this fast-emerging market. The region’s market is expected to breach the $2 bln mark by 2007, with the entry of several new countries into the region’s online gaming radar, albeit the current lack of commercial values in India, Indonesia, and Vietnam.