During the 2022 Indie Games Accelerator (IGA) ‘Graduation Day’, Google said that the Philippines is one of the five countries that is set to become a big gaming market in the Asia Pacific.
The Philippines is seeing major growth in terms of the volume of gamers, gaming innovations, and gaming-related startups. That’s alongside Singapore, Vietnam, Indonesia, and Australia.
- Gaming Laptop or Build Your Own PC: Which one is for you?
- Can VPNs really lower my ping when gaming?
- Fiber Internet Plans in the Philippines
According to Google, the steady growth relies on two key factors: One, game developers are making money from their works via in-game purchases or subscriptions. Second, a big number of players are willing to spend money on the gaming platforms they love.
These two factors continue to persist, “despite the challenges in businesses may be facing today,” Google added.
That said, Google said that the revenue of the global gaming industry could reach USD340 billion by 2026. That’s significantly higher than the USD198.40 billion in 2022 — an 8.94% compound annual growth from 2022 to 2027.
To further achieve this, specific drivers will include advancements in artificial intelligence (AI) and augmented reality (AR) technologies. Plus, improvements in user experiences and cloud gaming, a multi-platform approach in game development and design, and lastly, the evolution of connectivity through expanding smartphone adoption and bigger network bandwidth.
Google also said that the Asia Pacific has a great infrastructure that nurtures gaming companies and talents. This is why triple-A game studies were able to put up bases in the region, which help expose and train local talent.
As for the IGA training program, it’s been regularly hosted by Google Play to help nurture game development skills and related business model knowledge for independent gaming studios for three months.
The recent 2022 Google IGA graduation day consists of representatives from South Korea, Indonesia, Australia, Vietnam, and the Philippines’ Ranida Games.