Esports Market Insights:
The Esports Market was analyzed which was worth USD 1.67 Billion in the year 2021, expecting a CAGR of 21.1% during the forecast period (2022-2030), and the market is projected to be valued at USD 9.35 Billion by 2030.
The Esports market refers to the competitive video gaming industry, where professional players compete in organized and multiplayer video game events. The market includes revenue generated from gaming hardware, advertising, sponsorship, merchandise sales, and ticket sales. The market is growing rapidly as a result of increasing popularity and recognition of Esports, as well as advancements in technology and increased investment.
The Esports market is driven by several factors, including the growing popularity and recognition of Esports, advancements in technology, and increased investment. The increasing number of players and spectators, as well as the growing number of organized events and tournaments, has led to the growing popularity of Esports. Advances in technology, such as better graphics and high-speed internet, have enabled a more immersive and interactive gaming experience. The market is attracting significant investment from various stakeholders, including game developers, tournament organizers, and sponsors, which is driving growth in the market.
The Esports market relies heavily on a limited number of revenue streams, such as advertising and sponsorship, which can be affected by economic and market conditions. Additionally, the Esports industry faces the challenge of overcoming negative stereotypes and the perception that video gaming is not a legitimate form of competitive entertainment. This is a significant barrier to the wider acceptance and growth of the Esports market.
The Esports market offers growth potential through expansion into new markets, new revenue streams, and the growth of mobile gaming. Developing countries with rising interest in video gaming represent untapped markets for expansion. Diversifying revenue sources through merchandise sales, ticket sales, and in-game purchases is also an opportunity. The popularity of mobile gaming and streaming platforms like Twitch and YouTube provide opportunities for reaching a wider audience and generating revenue.
The COVID-19 pandemic has had a significant impact on the Esports market. The pandemic resulted in the cancellation of several major Esports events and tournaments, leading to a decline in revenue for the industry. However, the pandemic also resulted in a surge in online gaming, as people sought entertainment while in quarantine. This led to an increase in viewership and engagement in Esports, providing an opportunity for growth in the market. Additionally, the pandemic accelerated the trend of remote work and online entertainment, which is expected to benefit the Esports market in the long term. The market has since recovered from the initial impact of the pandemic, and is expected to continue growing in the future.
Esports Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||9.35 Billion|
|By Streaming type||On demand, Live|
|By Application||Platform, Service|
|By Device Type||Smart phone, Smart TV, Desktop -laptop-tablets, Gaming console|
|By Revenue Stream||Media rights, Game publisher fee, Sponsorship, Digital advertisement, Tickets and merchandise|
|By Geography||North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa|
|Key Players||Activision Blizzard, Inc.; Electronic Arts Inc.; Gameloft SE; HTC Corporation; Intel Corporation; Modern Times Group (MTG); Nintendo of America Inc.; NVIDIA Corporation; Tencent Holding Limited; Valve Corporation|
By Streaming Type
The market is segmented into on-demand and live streaming. On-demand streaming offers pre-recorded content of Esports events and tournaments that can be viewed at any time on platforms such as YouTube and VOD services. This segment is popular among Esports enthusiasts who missed live events. Live streaming, on the other hand, involves real-time broadcasts of Esports events and tournaments and is the most popular segment of the Esports market. It offers a more immersive experience for viewers and attracts a large audience, generating significant revenue for the industry. Live streaming is available on platforms like Twitch and Facebook Gaming.
Platforms are digital infrastructure for broadcasting and distributing Esports events, like Twitch, YouTube, and Facebook Gaming. They offer a user-friendly interface and tools for players and teams to connect with audiences. Services refer to offerings such as game development, event planning, content production, and distribution, and are provided by the Esports industry to support growth and development. Service providers create, distribute, and promote Esports content, helping drive the market.
By Device Type
Smartphones are popular for playing and viewing Esports due to their portability, with games such as PUBG Mobile and Call of Duty Mobile. Smart TVs offer large-screen viewing, while desktop computers, laptops, and tablets provide a high-performance experience for Esports players and viewers. Gaming consoles, like Xbox and PlayStation, are dedicated devices for playing Esports and provide a seamless experience for players. They’re popular and a significant source of revenue for the Esports industry.
The Esports market is segmented by region into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America is a major contributor to the global Esports market and is home to several major Esports tournaments and events. The region has a large number of Esports enthusiasts and a well-developed infrastructure for hosting and broadcasting Esports events. The Asia Pacific region is the largest market for Esports, with countries such as China, South Korea, and Japan being major contributors. The region has a large and growing number of Esports players and enthusiasts, and the infrastructure for hosting and broadcasting Esports events is well-developed.
Esports Market Competitive Landscape:
The Esports market is highly competitive, with a large number of established players and new entrants. Key players in the market include:
- Activision Blizzard, Inc.
- Electronic Arts Inc.
- Gameloft SE; HTC Corporation
- Intel Corporation
- Modern Times Group (MTG)
- Nintendo of America Inc.
- NVIDIA Corporation
- Tencent Holding Limited
- Valve Corporation
These companies have a strong presence in the market and offer a range of Esports-related services, including game development, event organization, and broadcasting.
In recent years, there have been several developments in the Esports market, including the launch of new games, the acquisition of smaller companies by larger players, and partnerships between companies. For example, Tencent recently acquired the gaming company Supercell, while Activision Blizzard acquired Major League Gaming. These acquisitions and partnerships are aimed at expanding the reach of these companies and improving their offerings in the Esports market.
Mergers and Acquisitions
There have been several mergers and acquisitions in the Esports market in recent years, as companies look to expand their presence and offerings. Tencent’s acquisition of Supercell, Activision Blizzard’s acquisition of Major League Gaming, and Amazon’s acquisition of Twitch are among the most notable. These deals have allowed the acquiring companies to expand their offerings and improve their market position.
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