Vietnam's mobile games market generated $825 million in revenue in 2025, up 9.16% year-on-year, according to a new report from Vietnamese publisher Gamota. The country now counts approximately 54 million gamers, yet monetization remains thin: only 7% to 10% of players spend on mobile games, and just 2% to 3% qualify as high spenders. Average revenue per user sits at about $15.27.

The figures frame a market that is large in players but shallow in payer conversion — and one where the monetization plumbing is changing fast.

How concentrated is the revenue?

Gamota's analysis of the top 50 mobile titles shows revenue heavily concentrated among a small number of leading games. Those 50 titles generated around $91.66 million in Vietnam in 2025 — a figure that trails far behind comparable top-50 revenue in South Korea ($1.79 billion) and China ($7.26 billion).

Genre mix drives the concentration. Progression-based genres — MMORPG and 4X strategy in particular — dominate spending, thanks to mechanics built around power accumulation and competitive advantage. Studios operating live-service progression systems have a structurally stronger position in Vietnam than those running casual or ad-monetized models.

What is changing in payments?

The report identifies a structural shift: developers increasingly rely on local payment systems rather than standard in-app purchase channels. Gamota attributes this to lower transaction costs and better alignment with Vietnamese spending habits, positioning local payment methods as a dominant driver of profitability.

For international studios, that has operational consequences. Routing payments through local rails — typically via a domestic publishing partner — is becoming the default path to viable margins, rather than an optional optimization.

What does Decree 147 require?

Regulation is the other forcing function. Under Decree 147, Vietnamese authorities are working with platform holders including Apple and Google to identify and remove unlicensed games from their stores. Every title must hold a government licence to operate in the country.

That requirement raises the stakes for market entry. International studios without a local licensing structure face takedown risk on the App Store and Google Play, which makes partnerships with local publishers effectively mandatory rather than merely advantageous.

How big can downloads get?

Vietnam ranked among the world's top seven markets for mobile game downloads in 2025, and Gamota forecasts downloads could reach around 1.34 billion in 2026. The gap between that download volume and the $825 million revenue total underscores the conversion challenge: engagement is abundant, willingness to pay is not.

The market signal to watch is how aggressively Apple and Google enforce Decree 147 takedowns of unlicensed titles over the coming quarters — and whether the resulting consolidation pushes more international developers into licensing deals with local publishers.