One number is enough to redefine Vietnam’s gaming landscape: on average, Vietnamese users download more than 11,600 apps every minute, putting the country among the top in global Google Play downloads in 2024. The figure alone blows away the outdated notion of ‘kids glued to their phones’ – a mindset that once underestimated the market’s true potential. Today, gaming spans all ages, evolving into a multi-layered form of entertainment that’s driving new economic growth.
Vietnam’s gaming story is still unfolding. For Emily Nguyễn, Industry Head of Game & App at Google Vietnam, the market is “slowing down to look closer, explore new niches, and gear up for the next big leap.”
But in a niche market, a creative idea alone won’t cut it.
Game publishers need deep insights into player needs, the sharp go-to-market strategy, and the ability to build communities that stay and grow with them.
What’s Slowing Down The Game Industry?
Despite what people say about “gaming all day,” games don’t actually dominate our screen time. A chat with Emily revealed a surprising truth: the average person spends about 5.5 hours daily on their smartphone, yet only a tiny fraction of that goes to gaming. With endless options, users are constantly pulled in by social media, streaming, and other apps. The upshot? Games are slowly losing ground in the fight for attention.
Once a go-to entertainment empire before the social media boom, gaming is now struggling to hold its place in an increasingly crowded market.
Emily recalls a time, about a decade ago, when players could get lost in a single title for months. Today, average retention rates barely hit 5–7%. That drop-off says a lot: players now crave depth. They no longer play just to kill time. They want meaningful, personalized experiences. They need games that challenge, engage, and give them a reason to stay.
From a macroeconomic perspective, Emily highlights one major pressure weighing on both consumers and businesses: global uncertainty.
Consumers now are tightening their wallets and thinking twice before spending on in-game purchases. On the flip side, companies are also cutting packs, often starting with R&D budgets. This makes new product development much tougher. When there’s no room for experimentation, user experience can easily get sacrificed for quick profits.
Vietnam’s Game Is Just Getting Started
Despite the hurdles, Emily remains optimistic. The gaming industry still has massive room to grow. In the past year alone, global gaming revenue hit $188 billion and most of it coming from mobile gaming.
Vietnam, in particular, ranked among the world’s leading mobile game producers, amassing 4.2 billion downloads in 2023, most of which came from international users. A platform spokesperson noted this reflects the strong global appeal of Vietnamese game developers’ products.
Vietnam checks all the boxes to become a true global game hub.
- A deep talent pool with a solid technical foundation, well-trained in software and app development.
- High internet penetration rate, mobile-first user base across Android and iOS.
- Developers who are quick to adopt global trends, staying ahead of the curve.
- A post-pandemic industry outlook that’s more focused, strategic, and mature.
That’s why Vietnam ranks among the top destinations for global investors. This “smokeless industry” is shaping up to be a dynamic new frontier—poised to scale regionally, build a sustainable creative ecosystem, and pursue the billion-dollar dream in the decade ahead.
The Secret To Vietnam’s Next Big Gaming Breakthrough
One question remains: With low customer lifetime value (LTV), what does it take for businesses to achieve a breakthrough?
For Emily, LTV is the critical metric. After nearly eight years in the gaming space, she’s seen a clear pattern: most games today rely heavily on ad revenue. But that model often results in low LTV, which means limited growth, no matter how many downloads you get.
“LTV matters because it affects two core factors: how much a player brings in and how much it costs to get them,” Emily explains. “If your LTV is strong, you can afford to invest long-term. You can lose money upfront, knowing the player’s value will grow over time—rather than being stuck in a cycle of short-term products and short-term thinking.”
Today, Vietnamese game developers face a tough reality: they’ve entered the game a bit late, slightly out of sync with global trends. Many have chosen to double down on hyper-casual games: simple, easy-to-play, quick-to-download.
But Emily points out several barriers holding the industry back. From shallow user experience design and unbalanced in-game economies to poor data management, these gaps are limiting Vietnamese games from reaching their full potential.
For Emily, if LTV is the keyword for growth, then data is what fuels long-term sustainability and determines who wins the marathon.
With the right data, developers can understand player behavior, reach the target audience, and measure the true player value. It’s the foundation for optimizing revenue and gearing up for the next big leap.
“Quality always comes first,” Emily affirms. It’s the message she hopes to share with Vietnamese game developers chasing the billion-dollar dream. Because one day, Vietnam could once again rise to the top of the global game charts—and this time, stay there.
Thank you to Google Vietnam for partnering with Vietnam Innovators.
Vietnam is one of the fastest-growing digital economies in Southeast Asia. By establishing a strong presence in the country, Google aims to provide a platform for businesses to promote their products and services through a wide range of advertising formats—including search ads, display ads, and shopping campaigns.
Now, through its collaboration with Vietnam Innovators Digest, Google is offering in-depth insights into the broader digital landscape of Vietnam—from apps and games to e-commerce—while showcasing how businesses can achieve sustainable growth through Google’s advanced advertising and technology solutions.