Niko Partners’ November 2025 market model and five-year forecast indicate a strengthening outlook for the Asia & MENA games industry, supported by evergreen IP releases, a growing base of paying gamers, and a more favorable regulatory environment.
SILICON VALLEY, Calif. – December 4, 2025 – Niko Partners, the world’s leading market research and consulting firm covering video games, esports, and livestreaming in Asia and MENA, today announced the release of its updated 2024–2029e video game market models and forecasts. The updated market models cover the 13 country markets that Niko tracks: China, India, East Asia (Japan, Korea), Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam), and MENA (Egypt, Saudi Arabia, and United Arab Emirates).
The Asia & MENA video games market is projected to generate $88.97 billion in revenue in 2025, up 2.7% YoY. Over the same period, the number of gamers will climb to 1.70 billion, also increasing by 2.7%. Despite global uncertainty, Asia and MENA continue to signal long-term growth potential for the video games industry. This aligns with Niko Partners’ November 2025 market model and five-year forecast that reflects a more positive outlook, supported by:
- Stronger-than-expected momentum across mobile and PC games, driven by the continued rise of evergreen IP and new cross-platform titles that offer AAA experiences.
- An increase in the number of paying gamers across both regions, supplementing existing payer cohorts and accelerating overall revenue uplift.
- Improved regulatory and policy conditions that benefit domestic game markets, as well as opening up previously closed platforms to out-of-app monetization.
- Broader audience reach through targeted engagement of under-served demographics, including the growing population of female gamers and emerging interest groups around niche and previously untapped genres.
- A positive outlook for console driven by the Nintendo Switch 2, upcoming release of Grand Theft Auto VI, and next generation hardware from Sony, Microsoft, and other platform holders that will drive software and services growth.
Other topline takeaways from the forecast update:
- India, MENA, and Southeast Asia will be the fastest growing regions by revenue and gamers through 2029, making them key regions to watch. India, MENA, and China will see the strongest ARPU growth through 2029.
- The 5-year CAGR (2024-29) for revenue growth across India, MENA, and Southeast Asia is 12.9%, 6.4% and 3.5%, respectively.
- India is the fastest growing market in Asia & MENA, set to exceed $1.5 billion in player spending by 2028. India is also on track to reach 500 million gamers this year and will reach 700 million gamers in 2029.
- Malaysia and Vietnam are set to be the fastest growing markets in Southeast Asia by revenue, while growth in Indonesia and Thailand slowed amid socio-economic issues.
- China, Japan, and Korea are the most mature markets in Asia & MENA and will account for an impressive $88.8 billion in player spending in 2029, representing 89.1% of total revenue across the 13 country markets.
- Despite only accounting for 6.3% of Asia & MENA revenue in 2025, console is set to be the fastest growing segment through 2029, as Nintendo expands its presence in the region with the Switch 2 launch and spending on F2P titles and multi-game subscription services increase.
The Half-Year Market Model Update is the third part of Niko Partners’ Games Market Report Series. Niko produces a set of three reports for each market: Annual Market Model Report, Annual Gamer Behavior & Market Insights Reports, and Six-Month Market Model Update. The Annual Market Model Report includes PC, mobile, console, survey demographics, model assumptions, macroeconomic data, tables, exhibits, and qualitative analysis. The market models are also available on our SAAS platform, NikoIQ. Niko Partners surveyed 7,885 gamers in the Asia & MENA region in March 2025 as one of the key proprietary inputs, among many, that shape our market models.
For more information visit: https://nikopartners.com/asia-mena-market-model-2025-half-year-update/
About Niko Partners:
Niko Partners is the world’s leading global market research firm focused on video games and esports in Asia, the Middle East, and North Africa. Leveraging unmatched local expertise with a global perspective, Niko Partners delivers the most in-depth market intelligence on the world’s fastest-growing regions. We provide the local market context behind our data, your data and other third-party data analytics you may refer to. With our deeper understanding of these markets, game developers, publishers, investors, and suppliers can make smarter business decisions with the utmost confidence. Our detailed reports, online SaaS tools, and custom consulting services dig into the details of nuanced, complex markets, empowering firms with a stake in the video game and esports ecosystems to make the right moves for their organizations. Detailed coverage areas include China, East Asia (Japan, Korea), Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam), India, and MENA (Egypt, Saudi Arabia, and UAE). The company is based in Silicon Valley, with offices in Shanghai, Bangkok, Jakarta, and London. Learn more at www.nikopartners.com, or contact research@nikopartners.com to arrange a no-obligation introductory meeting.