Wilmington, DE, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Esports Market by Application (Platform, and Service), Streaming Type (Live, and On-demand), Device Type (Smart Phone, Smart TV, Desktop-Laptop-Tablets, Gaming Console), and Revenue Stream (Media Rights, Game Publisher Fee, Sponsorship, Digital Advertisement, Tickets, and Merchandise): Global Opportunity Analysis and Industry Forecast, 2020-2030". As per the report, the global Esports market is expected to garner $4,758.99 million by 2030. The market accounted for $942.34 billion in 2020 and is predicted to grow at a CAGR of 17.5% from 2021 to 2030.
Prime determinants of the market:
The global Esports market is attributed to the increasing of e-sports and the rising inclination of people toward video games. Moreover, the increasing number of tournaments & events is expected to create massive investment opportunities for the market in the future. However, the rising online threats such as gambling and the lack of standardization in online gaming events may hamper the market’s growth.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2020-2030 |
| Market Size in 2020 | $942.34 Million |
| Market Size in 2030 | $4,758.99 Million |
| CAGR | 17.5% |
| No. of Pages in Report | 265 |
| Segments Covered | By Application, Streaming Type, Device Type and Revenue Stream |
| Drivers | Increase in popularity about online video games. Increase in popularity about online video games. Growth in awareness about the U.S. e-motorsports |
| Opportunities | Long term investment initiative taken by key players and increase in number of tournaments & events with huge prize create lucrative opportunities in the market during the forecast period. |
| Restraints | Lack of standardization and threats such as betting and gambling limit the market growth. |
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The platform segment holds the dominant market share
By component, the platform segment generated the largest market share in 2020, contributing to more than two-thirds of the global Esports industry. This is mainly due to the rising adoption of Esports among emerging as well as developed nations to attain a strategic and competitive advantage over their competitors. However, the services segment is predicted to manifest the highest CAGR of 18.6% from 2021 to 2030, due to the increasing preference for online gaming.
The on-demand segment to rule the roost
Based on streaming type, the on-demand segment held the highest market share in 2020, generating three-fifths of the global Esports market. This is mainly because of several benefits offered by streaming-type segments such as high-end quality gaming, top security of gaming ID, easy customization, and others. On the other hand, the live segment is predicted to showcase the fastest CAGR of 19.5% during the estimated period from 2021 to 2030, owing to the growing adoption of real-time streaming of Esports.
Asia-Pacific, followed by North America to hold the biggest market share by 2030
Regionally, the Asia-Pacific region, followed by North America generated the highest market share in terms of revenue in 2020, contributing to nearly two-fifths of the global Esports industry. The Asia-Pacific region is predicted to maintain its dominance, growing at a CAGR of 19.5% from 2021 to 2030. This is mainly due to the continuous technological advancements and the rapid development in the gaming industry.
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Leading market players:
- Nintendo
- CJ Corporation
- Activision Blizzard, Inc.
- NVIDIA Corporation
- FACEIT
- Electronic Arts
- Modern Times Group
- Gameloft SE
- Kabam
- Gfinity
Key Industry Development -
November 2023: Melbourne Victory, Australian football club partnered with KICK a fast-growing streaming platform, similar to the likes of Twitch. Through this partnership it aims to incorporate the club’s participation in the E-League alongside creating other initiatives and also allow fans to engage with the platform and participate in EAFC 24 competitions.
November 2023: NODWIN Gaming has partnered with several brands, including Intel, Monster, Hyundai, TVS Raider, Opraahfx, BenQ, and ACT, for the 4th edition of DreamHack India, a digital festival that celebrates gaming and pop culture. This partnership aims to bring Intel's expertise and technology to enhance the overall DreamHack India experience and to empowering the gaming and esports ecosystem and NODWIN Gaming's dedication to delivering an outstanding experience to the community.
November 2023: Digital Afrique Telecom (DAT) a pan-African mobile technology company partnered with Clipfeed a global gaming and esports entertainment company that powers esports communities with award-winning technology. Through this partnership, DAT and Clipfeed offer a unique opportunity provide esport solutions for mobile operators in Africa.
October 2023: GameSquare, the Texas-based esports company acquired FaZe Clanthe embattled North American esports team. The combined company will be powered by a progressive end-to-end platform of leading media and agency organizations, gaming and esport teams, creative services and technology capabilities.
August 2023: Global Esports, a prominent esports organization in India, partnered with NUMBER, a premium brand specializing in smart wearables and gaming earbuds. Through this partnership NUMBER aims to be the title sponsor for Global Esports' BGMI roster in the upcoming BGMS Season 2, an esports event. The collaboration will feature the NUMBER logo prominently displayed on the center of the Global Esports team jerseys during BGMS 2023, highlighting the synergy between esports and cutting-edge technology.
February 2023: Vodafone Idea (Vi) has expanded its presence in the mobile gaming space adding Esports to its catalogue through partnership with Gamerji. Through this partnership, Vi has launched an Esports platform on the Vi App under the umbrella of Vi Games which will host popular Esports games across various genres such as Battle Royale, Racing, Cricket, Action Role Playing, etc.
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