Pune, India, April 04, 2023 (GLOBE NEWSWIRE) -- The global eSports market size was valued at USD 1.22 billion in 2021. The market is projected to grow from USD 1.44 billion in 2022 to USD 5.48 billion by 2029, exhibiting a CAGR of 21% during the forecast period. Increasing live streaming events and benefitting revenue opportunities are expected to boost market growth. Fortune Business Insights™ shares this information in its report titled “eSports Market Forecast, 2023-2029.”
Various factors such as important investments, increasing live streaming events of games, engagement activity, growing viewership, and league tournament infrastructure are estimated to propel market trajectory. Increasing number of advertisements of e-sports on online platforms is propelling the growth for the market.
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Key Industry Development
July 2021: Intel collaborated with International Olympic Committee to increase the focus on hosting one of the major virtual competitions. The sports event was scheduled to be in Katowice, a city in Poland. This was set to happen a month before the Olympic Games.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 21% |
| 2029 Value Projection | USD 5.48 Billion |
| Base Year | 2021 |
| eSports Market Size in 2021 | USD 1.22 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 150 |
| Segments covered | Streaming Type, Revenue Streaming, Gaming Genre and Geography |
Key Takeaways:
- eSports Market size in North America was USD 387.5 billion in 2021
- Major driving factors include growing adoption of in-house entertainment
- The live streaming segment has the largest share in the global market.
- Global demand is driven by the rising demand in media and entertainment.
Competitive Landscape
New Service Launch by Market Players to Set a Progressive Pathway
Key players of the market have used new product launches to gain market grip. In September 2021, DLive launched the live streaming for iPhone and Android. The new feature Go Live will offer direct access to games through smartphones, mobile dashboard, and view information, and types of stream. Such launch of new services and new features is expected to offer innovative products during the forecast period to form a strong consumer base.
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Driving Factors
- Popularity of Video Games to Surge Product Demand
- Continuous advancements in technology globally is leading to surge in the demand for the service, which is projected to drive the eSports market growth.
- There is a high number of individuals that rely on high-tech gadgets, smartphones, and internet, which is expected to drive market.
- There are many providers who have adopted recurring revenue model, which is anticipated to propel market growth. There has been a rise in consumer spending, video game tournaments, and virtual reality products.
- However, health risks and addiction concerns in eSports are anticipated to hinder market development.
Segments
Live Segment to Lead Owing to Growing Digitalization
On the basis of streaming type, the market is segmented into live and on-demand. The live segment is expected to hold be the key segment due to growing focus on fan engagement. Rise in the usage of smartphones is likely to propel the demand for the service.
Media Rights to be Prime Part of the Segment Due to Maximum Revenue Generation
On the basis of revenue streaming, the market is segmented into media rights, advertisement, sponsorship, ticket & merchandise, game publisher fees, and others. The media rights segment is set to generate maximum revenue during the forecast period. Sponsorship and advertisement segments are also anticipated to have a significant growth due to increasing number of viewers.
First Person Shooter Games to be the Key Segment Due to Vast Number of Players
Based on gaming genre, the market is categorized into real-time strategy games, first person shooter games, fighting games, multiplayer online battle arena games, mass multiplayer online role-playing games, and others. The first person shooter games segment holds the majority share as it offers vast number of first-time shooter games.
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Regional Insights
North America to Lead the Market Owing to Increasing Number of Online Gamers
North America is anticipated to hold majority part in the eSports market share due to noteworthy number of online gamers. Significant rise in the number of players in the U.S. has propelled the growth in the market.
Asia Pacific is expected to show a significant growth due to rapid shift to digital platforms in countries such as China, Japan, and India. Vast opportunities for the gaming and entertainment industries to pose prospects for the region.
Europe is anticipated to have the fastest growth due to the presence of majority market players in the region.
List of Key Players Covered in the Report
- Twitch Interactive, Inc. (U.S.)
- Activision Blizzard, Inc. (U.S.)
- Tencent Holdings Limited (China)
- Riot Games, Inc. (U.S.)
- Gfinity plc (U.K.)
- X1 Esports and Entertainment Ltd. (U.S.)
- Loco (Stoughton Street Tech Labs Private Limited) (India)
- Caffeine (U.S.)
- DLive Entertainment Pte. Ltd. (U.S.)
- Sony Group Corporation (Japan)
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Major Table of Contents:
- Global eSports Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Streaming Type (USD)
- Live
- On-demand
- By Revenue Stream (USD)
- Media Rights
- Advertisement
- Sponsorship
- Ticket & Merchandise
- Game Publisher Fees
- Other (In-app Purchase, and others)
- By Gaming Genre (USD)
- Real-Time Strategy Games
- First Person Shooter Games
- Fighting Games
- Multiplayer Online Battle Arena Games
- Mass Multiplayer Online Role-Playing Games
- Others (Racing and Sports Simulators, and others)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America eSports Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Streaming Type (USD)
- Live
- On-demand
- By Revenue Stream (USD)
- Media Rights
- Advertisement
- Sponsorship
- Ticket & Merchandise
- Game Publisher Fees
- Other (In-app Purchase, and others)
- By Gaming Genre (USD)
- Real-Time Strategy Games
- First Person Shooter Games
- Fighting Games
- Multiplayer Online Battle Arena Games
- Mass Multiplayer Online Role-Playing Games
- Others (Racing and Sports Simulators, and others)
- By Country (USD)
- United States
- Canada
- Mexico
- South America eSports Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Streaming Type (USD)
- Live
- On-demand
- By Revenue Stream (USD)
- Media Rights
- Advertisement
- Sponsorship
- Ticket & Merchandise
- Game Publisher Fees
- Other (In-app Purchase, and others)
- By Gaming Genre (USD)
- Real-Time Strategy Games
- First Person Shooter Games
- Fighting Games
- Multiplayer Online Battle Arena Games
- Mass Multiplayer Online Role-Playing Games
- Others (Racing and Sports Simulators, and others)
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
TOC Continued…!
FAQs
How big is the eSports market?
eSports market size was USD 1.22 billion in 2021. It is expected to reach USD 5.48 billion by 2029.
How fast is the eSports market growing?
The eSports market will exhibit a CAGR of 21% during the forecast period, 2022-2029
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