Esports Market, By Application (Platform, Service), By Streaming type, (On Demand, Live), By Device Type (Smartphone, Smart TV, Desktop -laptop-tablets, Gaming console), By Revenue Stream, Media rights, Game publisher fee, Sponsorship, Digital advertisement, Tickets, and merchandise), By Region – Global Analysis Forecast Till 2030

The Global Esports market was accounted for USD 2,010.6 million in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 22.4% from 2022 to 2030.

Esports has revolutionized the world of video gaming, transforming it into an internationally recognized phenomenon. It blurs the boundaries between traditional sports and video games, creating an intriguing gray area that captivates audiences worldwide. With the rise of competitive gaming, video games have transcended their recreational status, becoming platforms for intense competition and skilled gameplay. In this dynamic landscape, fantasy esports leagues have emerged, allowing fans to engage in virtual team management and experience the thrill of strategizing and competing alongside their favorite players. Esports and video gaming have truly redefined the concept of sports, pushing the boundaries of entertainment and forging a new frontier in the digital realm.

The increasing popularity of video games globally is one of the major factors driving the growth of the esports market. Impressive international prize pools, head-to-head sponsorships, streaming revenues, and the growing popularity of gaming tournaments are fueling esports' growth as a professional profession. Increased infrastructure for league tournaments and increased live streaming of games further impact the market. In addition, rapid industrialization, the emergence of Industry 4.0, rapid infrastructure development, expansion of end-use industries, and massive investments have positively impacted the esports market.

Increased live streaming of games, huge investments, increasing audience reach, engagement activities, and league tournament infrastructure are factors influencing the market's growth. The lucrative opportunities created by the industry's growing specialization for influencers, gamers, event organizers, and game developers benefit the market. Millennials see esports as a professional career option due to the growing popularity of gaming tournaments, head-to-head sponsorships, streaming revenues, and impressive international prize pools. Universities are also starting to train skilled professionals by offering specialized esports programs.

Market Dynamics:

Drivers:

Raising awareness of esports is one of the major factors driving the growth of the esports market. This is mainly due to increasing mobile internet penetration and an increasing number of campaign launches. According to GSMA Intelligence, mobile internet penetration is expected to reach 61% by 2025 with 5 billion mobile internet subscribers. In addition, the launch of various campaigns to promote e-sports is also having a positive impact on market growth. For example, in April 2018, Korea-based esports team Hanwa Life esports launched a public campaign called Beautiful Game to raise awareness of esports. This campaign is intended to change the perspective of those involved in the growing esports industry through a listing of online and offline events.

Restraints:

The lack of standardization and threats such as gambling and gambling restrain the market growth. Additionally, long-term investment initiatives by key players and a growing number of tournaments and events with huge prizes create lucrative opportunities in the market during the forecast period.

Key players:

• Activision Blizzard, Inc.

• CJ Corporation

• Electronic Arts

• FACEIT 

• Gameloft SE

• Gfinity 

• Kabam

• Modern Times Group

• Nintendo

• NVIDIA Corporation

Market Segmentation:

Esports Market, By Application

• • Platform

  • Service

Esports Market, By Streaming type

• • On Demand

  • Live

Esports Market, By Device Type

• • Smartphone

  • Smart TV

  • Desktop -laptop-tablets

  • Gaming console

Esports Market, By Revenue Stream

• • Media rights

  • Game publisher fee

  • Sponsorship

  • Digital advertisement

  • Tickets and merchandise

Esports Market, By Region

• • North America

    • U.S

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • Rest of Asia-Pacific

  • LAMEA

    • Latin America

    • Middle East

    • Africa

Regional Analysis:

In 2021, North America held the highest revenue share of over 39%, with the United States leading the way. For decades, the region has dominated the business with PC gaming geared toward a more specialized audience. Investment and expansion will likely continue in the coming year’s thanks to the North American League of Legends Championship Series (NA LCS) franchise and the Overwatch League. In the United States, eSports is a multi-billion-dollar industry that includes game makers, players, leagues, television networks, and streaming platforms. Japan and the United States are collaborating to develop and promote esports as an educational platform.

Asia Pacific is anticipated to be the market's second-largest region. The rising popularity of mobile gaming and internet use in the area has fueled the growth of esports. China designated esports as an official sport in 2003, and 13 years later it was designated as a national industry that employs esports operators and professionals. South Korea is also a well-known esports destination that provides gamers with traditional infrastructure such as gaming houses, coaches, chefs, and analysts. In 2021, Korean telecom operator SK Telecom Co., Ltd. launched an esports company with Comcast Corporation. Such initiatives and developments are commendable.

Scope of the Report:

User

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