Initial successes
The Vietnam E-commerce White Paper 2022-2023, recently published by the Vietnam Entertainment E-Sports Association (VIRESA) and OTA Network, has provided remarkable figures about the Esports market. Accordingly, the size of the e-entertainment market in Southeast Asia is estimated to reach 14.8 billion USD in 2024, expected to reach 14.93 billion USD in 2029. The compound annual growth rate in the period 2024-2029 is 0.19%.
The number of people participating in electronic entertainment in Vietnam reached 28.2 million, accounting for 28.7% of the population. In 2023, the number of Esports followers in Vietnam accounted for 16% of the total population, equivalent to Indonesia and Taiwan (China). Vietnam is also in the Top 5 countries with the highest number of Esports followers in Southeast Asia in 2023. This shows that esports in Vietnam is growing no less than other popular sports.
The total revenue of the Vietnamese Esports industry in 2023 is 5.78 million USD, an increase of 11.15% compared to 2022. Meanwhile, the annual revenue growth rate (CAGR) is 10.95%. It is expected that the market size of the industry will reach 8.73 million USD in 2027.
The category that accounts for the largest proportion of the industry's revenue in 2023 belongs to sponsorship and advertising with about 1.7 million USD. Second place belongs to broadcasting rights with more than 1.4 million USD, up 31.7% compared to 2022.
Vietnam is one of the countries that is well known in the world for this industry. Esports has been included in the major sports program. At the SEA Games, this sport has competed in the last 3 congresses. The Vietnamese delegation won a total of 17 medals, including the overall victory at the 2022 SEA Games, taking place at home.
Opportunities in 2025
“The International Olympic Committee (IOC) has announced a partnership with Saudi Arabia to host the Esports Olympics in 2025. This shows that Esports is on the threshold of history,” said Mr. Do Viet Hung - Chairman of VIRESA about the opportunities of Esports in Vietnam at an event in late 2024.
In addition to the role of orientation and support from VIRESA, the general development trend of the whole industry, the publishers have also seriously invested human and material resources in this subject. VNGGames has cooperated with large game companies to bring famous Esports titles to publish in Vietnam such as PUBG Mobile, League of Legends: Wild Rift, Valorant...
“The presence of eSports at traditional sports events has brought a breath of fresh air, not only changing the way society views the gaming industry but also affirming its great value. ESports is not simply an entertaining game but has become a modern, healthy sport, where athletes demonstrate their talent, bravery and professional competitive spirit. At the same time, the strong development of eSports also emphasizes the important role of the gaming industry in the digital economy, opening up great opportunities for Vietnam to reach the world level,” Mr. La Xuan Thang, Director of Online Game Publishing of VNGGames shared with Lao Dong.
In 2024, Vietnam organized dozens of large-scale Esports tournaments. Of which, VNGGames organized and participated in a total of 35 domestic and international tournaments.
In some international tournaments, Vietnamese teams such as GAM Esports and Viking Esports are two representatives of Vietnam competing, leaving many strong impressions in the eyes of international friends. In the Truth Arena, Vietnam has a total of 5 players participating in 3 world finals of the 2024 Strategy Crown...
In 2025, units in Vietnam will organize many major Esports events, and accompany teams and players, aiming for major sports tournaments, including the SEA Games in Thailand.
