Brian Jeffrey
Vietnam’s eSports Growth Insights
A recent report by Viresa in partnership with OTA Network reveals that Vietnam’s eSports sector is on track for significant expansion, with forecasts predicting revenues will hit $8.73 million by 2027.
The country is currently one of the leading nations in Southeast Asia for eSports viewership, with 16% of the population engaging with this form of entertainment in 2023, matching figures from Indonesia and Taiwan.
In 2023, Vietnam’s electronic gaming community had about 28.2 million active participants, which constitutes 28.7% of the total population. This surge illustrates the growing acceptance of eSports, positioning it as a noteworthy competitor alongside traditional sports.
The Vietnamese eSports industry recorded earnings of $5.78 million in 2023, reflecting an increase of 11.15% from 2022. The revenue is growing at a compound annual growth rate (CAGR) of 10.95%, indicating high momentum in the field.
The primary source of revenue in 2023 was from sponsorship and advertising, which brought in nearly $1.7 million. Following closely were broadcast rights, which yielded over $1.4 million, marking a 31.7% rise from the previous year.
The 2022-2023 period experienced a boost in domestic eSports tournaments, leading to a total prize pool surpassing 41 billion VND (approximately $1.7 million) in 2023, a substantial increase of 32.26% year-on-year.
Among the various games, Liên Quân Mobile (Arena of Valor) stood out, with its prize money exceeding 12 billion VND in 2023.
This growth in Vietnam is part of a broader trend across Southeast Asia, with the electronic entertainment market expected to grow to $14.8 billion by 2024 and $14.93 billion by 2029, reflecting a CAGR of 0.19%.
