Esports Market Size is projected to reach USD 5.74 Billion

New York, United States, Aug. 31, 2022 (GLOBE NEWSWIRE) — The interest in competitive video gaming, which offers billions of dollars in prize money, is rising among millions worldwide. Casual gamers have become legitimate celebrities who can command seven-figure salaries and receive massive corporate endorsements from streaming services and live events. Esports, also called electronic sports, is a type of competition carried out through video games. The organized, competitive video game industry is known as “Esports.” Popular e-games such as Fortnite, League of Legends, Counter-Strike, Call of Duty, Overwatch, and Madden NFL crater gamers from different leagues or teams against one another. According to a market analytics company’s survey, esports was watched by 380 million people in 2018, including 165 million fans. These fans were primarily from North America, China, and South Korea. Online gaming has been transformed into a mainstream sport by esports. The experience is equivalent to watching a professional sporting event, but instead of watching athletes compete physically, viewers watch video gamers battle against one another.

The esports phenomenon has grown, so spectators can now easily watch games at an organized arena event. The audience size and revenue of the market have increased substantially over the past few years. The growing audience was a significant factor in the increase in sponsorship revenue that tournament/championship organizers received. Due to the opportunity to, directly and indirectly, reach a sizable and active audience, streaming companies are investing in esports marketing. This factor contributed to the growth of exclusivity in the industry. Esports have even been considered for future Olympic competitions by the International Olympic Committee. Online video streaming services like DouYu, YouTube, Twitch, and Huya have become essential tools for growing and promoting esports competitions.

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/esports-market/request-sample

Growing Popularity of Esports Bolsters the Market Demand

With the introduction of live game streaming and numerous open-source capturing and broadcasting tools, the quantity of hours spent watching game-related video content has also increased dramatically. This is particularly true for games that promote artistic competition and generate unique gameplay moments actively shared and watched by millions of people. The popularity of esports had been growing the fastest in Asian countries until recently. At the moment, the trend is accelerating more quickly in North America and Europe.

According to Verizon statistics, from the beginning of 2020, daily video game traffic had more than doubled since Americans began to seek refuge indoors. The traffic to video games increased more than traffic to videos and websites. Verizon data later that year showed that its gaming traffic rose weekly. Additionally, prize pools for tournaments in popular online games like Fortnite and Dota have previously reached more than USD 35 million. Due to these attractive payouts, more players are becoming interested in competitive video gaming, and the number of viewers on streaming websites is increasing. People’s growing interest in esports is driving the market’s growth.

A Large Number of Esports Events Create Myriad Market Opportunities

The growth of major esports events is one of the most significant opportunities for players competing in the global market. Among the large esports events in 2019 were the League of Legends (League) World Championship, The International, Overwatch League Championship, and Call of Duty World League. Such events allow attendees to invest in the market, accelerating the industry’s growth even more. Furthermore, due to technological advancements in human facial recognition, 3D scanning, and virtual reality esports leagues, market participants have the opportunity to continuously enhance and alter video games for users.

Report Scope

Report Metric Details
Market Size USD 5.74 billion by 2030
CAGR 21.9% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Revenue Model, Streaming Platform,
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Modern Times Group, Activision Blizzard Inc., Electronic Arts Inc., Riot Games Inc. (Tencent Holdings Ltd), Epic Games Inc., Gfinity PLC, FACEIT, Capcom Co. Ltd, Valve Corporation, Nintendo Co. Ltd, iRacing
Key Market Opportunities A Large Number of Esports Events to Spur Market Opportunities
Key Market Drivers Growing Popularity and Rising Awareness of Esports to Augment Market Growth Prospect

Buy Now Full Report @ https://straitsresearch.com/buy-now/esports-market

Regional Insights

Asia-Pacific will command the largest market share, expanding at a CAGR of 21.92% by 2030. The growth of internet users and mobile gamers in the region has fueled the growth of esports. Since China made esports an official sport in 2003, the market has provided the country’s esports operators with lucrative employment opportunities. South Korea, a well-known esports nation, provides players with a standard infrastructure that includes coaches, gaming venues, analysts, and cooks. For instance, in 2022, SK Telecom and the Korean Esports Association (KeSPA) reached a sponsorship agreement for three years. Following the deal, SK Telecom will coach the Korean esports team for upcoming Asian competitions and will now serve as the KeSPA’s official sponsor. Numerous market-related initiatives and advancements are anticipated to support additional growth during the anticipated period.

The expansion of the esports industry in Asia-Pacific is significantly influenced by the existence of the most lucrative gaming communities in countries like China. Several foreign businesses are entering the market, either by purchasing stock in Chinese gaming businesses or by endorsing groups of professional players. Players compete in teams against one another in open-access online arenas at top-tier esports competitions in China, and companies like Alibaba Group are increasing their investments in these events. Currently, six cities in mainland China—Shanghai, Xian, Hangzhou, Hainan, Sanya, Chongqing, and Haikou—are vying to become the following major esports hubs.

North America is projected to expand at a CAGR of 21.2% by 2030, accounting for USD 1,122 million. Growth and investment in the area are expected to continue due to the Overwatch League and the franchised North American League of Legends Championship Series. With the help of leagues, players, game developers, streaming services, and TV networks, esports in the United States have grown into a multimillion-dollar industry. The North America Scholastic eSports Federation (NASEF) is working to build the ecosystem by planning youth competitions, supporting high schools in starting esports clubs, and offering coaching and mentorship. The North American Scholastic eSports Federation and Tallo joined forces in 2021. The alliance has built the largest network of businesses, rising esports stars, and academic institutions online.
The United States is credited with incubating the esports phenomenon and is one of the world’s biggest gaming and esports markets. It is the primary location of many Esports game and equipment manufacturers. Intense gaming penetration, high average customer spending, and relatively young and receptive populations all contribute to the country’s booming esports industry. As viewership and audience numbers increase, it is anticipated that the North American esports market will continue to grow strongly.

Key Highlights

  • The global esports market size was worth USD 1,178 million in 2021. It is expected to reach USD 5,743 million by 2030, growing at a CAGR of 21.9% during the forecast period (2022–2030).
  • Based on the revenue model, the global esports market includes Media Rights, Advertising & Sponsorships, Merchandise & Tickets, and The Advertising & Sponsorships section is projected to grow at a CAGR of 22% by 2030, accounting for the largest market share.
  • Based on the streaming platform, the global esports market includes Twitch, YouTube, and Others. The Twitch section is projected to advance at a CAGR of 21.4% by 2030, acquiring the largest market share.
  • Region-wise, the global esports market comprises North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific will command the largest market share.

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/esports-market/request-sample

Key Market Players

  • Modern Times Group
  • Activision Blizzard Inc.
  • Electronic Arts Inc.
  • Riot Games Inc. (Tencent Holdings Ltd)
  • Epic Games Inc.
  • Gfinity PLC
  • FACEIT
  • Capcom Co. Ltd
  • Valve Corporation
  • Nintendo Co. Ltd
  • iRacing 

Global Esports Market: Segmentation
By Revenue Model

  • Media Rights
  • Advertising and Sponsorships
  • Merchandise and Tickets
  • Others

By Streaming Platform

  • Twitch
  • YouTube
  • Others (DouYu and Huya)

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Esports Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Revenue Model Overview
    1. Introduction
      1. Market Size & Forecast
    2. Media Rights
      1. Market Size & Forecast
    3. Advertising & Sponsorships
      1. Market Size & Forecast
  5. Streaming Platform Overview
    1. Introduction
      1. Market Size & Forecast
    2. Twitch
      1. Market Size & Forecast
    3. YouTube
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Revenue Model
        2. By Streaming Platform
      3. Canada
        1. By Revenue Model
        2. By Streaming Platform
      4. Mexico
        1. By Revenue Model
        2. By Streaming Platform
      5. Latin America
        1. By Revenue Model
        2. By Streaming Platform
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Revenue Model
        2. By Streaming Platform
      3. France
        1. By Revenue Model
        2. By Streaming Platform
      4. U.K.
        1. By Revenue Model
        2. By Streaming Platform
      5. Italy
        1. By Revenue Model
        2. By Streaming Platform
      6. Spain
        1. By Revenue Model
        2. By Streaming Platform
      7. Rest of Europe
        1. By Revenue Model
        2. By Streaming Platform
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Revenue Model
        2. By Streaming Platform
      3. China
        1. By Revenue Model
        2. By Streaming Platform
      4. Australia
        1. By Revenue Model
        2. By Streaming Platform
      5. India
        1. By Revenue Model
        2. By Streaming Platform
      6. South Korea
        1. By Revenue Model
        2. By Streaming Platform
      7. Rest of Asia-Pacific
        1. By Revenue Model
        2. By Streaming Platform
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Revenue Model
        2. By Streaming Platform
      3. South Africa
        1. By Revenue Model
        2. By Streaming Platform
      4. Kuwait
        1. By Revenue Model
        2. By Streaming Platform
      5. Rest of Middle East & Africa
        1. By Revenue Model
        2. By Streaming Platform
  7. Company Profile
    1. Modern Times Group
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Activision Blizzard Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Electronic Arts Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/esports-market/toc

Market News         

  • In 2022, Activision Blizzard Inc. unveiled the Murder at Castel Nathriaä.
  • In 2022, Activision Blizzard Inc. launched the Wrath of the Lich King Classicä, an original recreation of the World of Warcraftâ.

News Media

Increasing Availability and Affordability of Mobile Games to Foster Growth of the Game Engine Industry During the Forecast Period (2019-2026)

Social Media to Spur the Global Collectible Card Games Market

Have a Look at the Related Research Report              

Online Smartphone and Tablet Games Market: Information by Operating System (Android, iOS), Game Type (Massive Multiplayer Online Games, Casual), and Region — Forecast till 2030

Video Game Market: Information by Device Outlook (Console, Mobile), Type Outlook (Online, Offline), and Region — Forecast till 2030

Ai In Media And Entertainment Market: Information by Solutions (Hardware/Equipment, Media & Entertainment Services), Application (Fake Story Detection), and Region — Forecast till 2030

About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
                                                                               

For more information on your target market, please contact us below:
Phone: +1 646 480 7505 (the U.S.)
+91 8087085354 (APAC)          
+44 208 068 9665 (the U.K.)
Email: sales@straitsresearch.com

Follow Us: LinkedIn | Facebook | Instagram | Twitter

This news is republished from another source. You can check the original article here

Be the first to comment

Leave a Reply

Your email address will not be published.


*