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Global ESports Market Size was valued at USD 1.6 billion in 2022. The eSports market industry is projected to grow from USD 1.6 billion in 2023 to USD 5.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.60% during the forecast period (2023 - 2032). There are more live-streamed games, significant investments have been made, infrastructure exists for league events, and audience reach has improved, which are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Competent video gamers can compete in American e-motorsports, a growing industry. Similar to how traditional sports offer competitions in baseball, basketball, and football, the United States' e-motorsports features events across a variety of video games. Millions of people are forced to stay at home while searching for alternative forms of entertainment due to coronavirus-related limitations, yet the video game industry continues to see an incredible rise in both revenue and interest from big media firms in American e-motorsports. Nations are beginning to consider strategies to relax restrictions on working from home and to reopen industries like the video gaming and American e-motorsports. Titans of the video gaming industry including Microsoft, Nintendo, Twitch, and Activision have thrived as a result of the pandemic-induced conditions. For instance, Microsoft declared in April 2020 that there were more than 10 million Game Pass subscribers.
Between March and April 2020, Microsoft observed a 130% rise in multiplayer interaction among these users. Additionally, 1.69 million gaming hours were seen on Twitch, the most popular platform for streaming video games, in April 2020, an increase of 50% from March 2020. The growing popularity of video games is what is driving the U.S. e-motorsports business.
Following COVID-19, American e-motorsports have gained more prominence abroad. It is projected that American e-motorsports would advance throughout the ensuing years. It is anticipated that by 2024, it will have increased by more than $1.6 million, with more than a third of revenue coming from North America as the continent gains more awareness of and interest in American e-motorsports competitions. Despite the potential loss of some spectators, it is believed that the American e-motorsports industry will keep growing when the outbreak has passed. American e-motorsports have more international visibility now that traditional sports events and broadcasts have been suspended. Several TV networks are airing the US e-motorsports contests to fill the time slots left vacant by other sporting events. Traditional sports fans are finding entertainment in American e-motorsports.
There is still time for the market to entice many new clients, many of whom are anticipated to maintain their interest despite the outbreak. Professional athletes now compete against one another online rather than in person thanks to sports organizations like the Premier League of Football, NASCAR, and others sponsoring virtual competitions in sports video games. The number of views varies greatly depending on the event, but they typically represent the percentage of people that really attended the event. This element is expected to have a global impact on the market.Thus, driving the eSports market revenue.
The global eSports market segmentation,based on Application includesPlatform, Service. The Platform segment dominated the market, accounting for 56.35% of market revenue. As hardware and software technologies advance, gaming platforms become more powerful and are able to play demanding and visually stunning eSports games. Both participants and viewers are attracted, which encourages market expansion.
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The global eSports market segmentation,based on Streaming type, includeson demand, Live. The Live category generated the most income. The demand for live electronic sports events is projected to increase as the emphasis on fan participation increases. The demand for live electronic sports tournaments is also anticipated to increase with the increase in smartphone usage.
The global eSports market segmentation, based on Device Type, includes Smart phone, Smart TV, Desktop -laptop-tablets, gaming console. The Smart phone category generated the most income. Smartphone use is rapidly rising in developing countries for a number of reasons, including rising per capita income, cost affordability, the availability of various low-priced options with practical features, and others. This increases the demand for internet video and mobile gaming.
The global eSports market segmentation, based on Revenue Stream, includes Media rights, Game publisher fee, Sponsorship, Digital advertisement, Tickets and merchandise. The Media rights category generated the most income. According to projections from PayPal, 62% of Spanish viewers made eSports-related transactions in 2020, hence media companies are funding these activities.
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study.The North American esports market dominated this market in 2022 (45.80%). The region has constantly held sway over the market for many years. Growth and investment are expected to continue as a result of the Overwatch League and the franchised North American League of Legends Championship Series (NA LCS). Further, In the North American area, the U.S. eSports market had the biggest market share, while the Canada eSports market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The second-largest market share for eSports is in Europe. The existence of a healthy sports sector throughout European countries is predicted to create lucrative opportunities for market expansion for suppliers of electronic sports platforms. Many gamers are interested in new gaming platforms. Similar to this, a large number of stakeholders are investing significant sums of money in the European gaming industry as a result of the growing gaming market and higher return on investment.Further, In the European region, the German eSports market had the biggest market share, and the U.K. eSports market had the quickest rate of growth.
The Asia-Pacific ESports Market is expected to grow at the fastest CAGR from 2023 to 2032.The rise of internet users and mobile gamers has fueled the growth of esports in the region. Since China made esports an official sport in 2003, the sector has provided the country's esports operators with lucrative employment opportunities.Moreover, In the Asia-Pacific region, the Indian eSports market had the quickest rate of growth while China's eSports market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the eSports market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The eSports sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide eSports industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the eSports sector.Major players in the eSports market, including CJ Corporation, Modern Times Group, Activision Blizzard, Inc., Electronic Arts, Gameloft SE, FACEIT, NVIDIA Corporation, Nintendo, Kabam, Gfinity, and others, are attempting to increase market demand by investing in research and development operations.
Operator of a widely used mobile platform, Modern Times Group MTG AB (MTG). There are many well-known gaming franchises from which players from around the world can select. Forge of Empires, Top Drives, Bloons, Animation Throwdown, and many other well-known, enduring video game franchises are all represented in its collection, along with intriguing word games like CrossWord Jam and WordTrip. The company's primary revenue streams include in-app purchases, advertising, and collaborations with third-party distribution platforms. The company works with game developers, publishers, and gaming communities to create and advertise online and mobile games. The company has operations in New Zealand, Singapore, Germany, the United Kingdom, India, and the United States. MTG's headquarters are in Stockholm, Sweden.
Electronic Arts Inc. (EA) is a corporation that sells video game software. To be played on video game consoles and other electronic devices, digital interactive video games are developed, marketed, published, and distributed. Its video game software and content are useable on gaming consoles such the Microsoft Xbox, Apple App Store, Google Play Store, Sony PlayStation, and Nintendo WiiU. For use on PCs, tablets, cellphones, and the internet, EA develops video game applications. Just a handful of the brand names the company employs to promote its games include Need for Speed, Battlefield, The Sims, Apex Legends, and Plants vs. Zombies. Additionally, it uses authorized trademarks in its advertising, such as FIFA, Madden NFL, and Star Wars. The business distributes its games and services through retail and digital distribution channels. It runs businesses in Europe, Asia, and North America. The headquarters of EA are located in Redwood City, California, USA.
· CJ Corporation
· Modern Times Group
· Activision Blizzard, Inc.
· Electronic Arts
· Gameloft SE
· FACEIT
· NVIDIA Corporation
· Nintendo
· Kabam
· Gfinity
April 2023: The video editing SaaS service VideoVerse announced the purchase of Reely.ai to expand its ability to offer AI-powered content to its clients.
April 2023: NODWIN Gaming announced the acquisition of a 51% stake in Singapore-based live media firm Branded. Through this acquisition, the company intends to increase the number of international sponsors for gaming and esports.
February 2023: Vodafone Idea and Gamerji developed a strategic partnership in order to advance in the esports sector. The companies offer a range of gaming genres, such as battle games, action role-playing, cricket, and more.
· Platform
· Service
· On demand
· Live
· Smart phone
· Smart TV
· Desktop -laptop-tablets
· Gaming console
· Media rights
· Game publisher fee
· Sponsorship
· Digital advertisement
· Tickets and merchandise
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 1.6 Billion |
|
Market Size 2023 |
USD 1.6 Billion |
|
Market Size 2032 |
USD 5.2 Billion |
|
Compound Annual Growth Rate (CAGR) |
17.60% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USDBillion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Application, Streaming type, Device Type, Revenue Stream, and Region |
|
Geographies Covered |
North America, Europe, AsiaPacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
CJ Corporation, Modern Times Group, Activision Blizzard, Inc., Electronic Arts, Gameloft SE, FACEIT, NVIDIA Corporation, Nintendo, Kabam, Gfinity |
|
Key Market Opportunities |
Growing Popularity and Audience |
|
Key Market Dynamics |
Investment and Sponsorship |
The global Esports Market was valued at USD 1.6 billion in 2022, and it is estimated to reach USD 5.24 billion by 2032.
The global market is projected to grow at a CAGR of 17.60% during the forecast period, 2023-2032
North America had the largest share in the global market
The key players in the market are CJ Corporation, Modern Times Group, Activision Blizzard, Inc., Electronic Arts, Gameloft SE, FACEIT, NVIDIA Corporation, Nintendo, Kabam, Gfinity.
The Platform category dominated the market in 2022.
The Live had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65246
Published on :
Sep 2023
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