Pune, Aug. 08, 2023 (GLOBE NEWSWIRE) -- “As of the SNS Insider report, the eSports Market reached a value of USD 2,490.3 million in 2022, with a projected growth to USD 11,983.3 million by 2030 at a CAGR of 21.7% during the forecast period from 2023 to 2030.”
Market Overview
eSports, short for electronic sports, is a rapidly growing form of competitive gaming where professional players and teams compete against each other in various video game titles. These competitive events take place in organized tournaments, leagues, and championships, often with large audiences and significant prize pools. eSports has gained immense popularity worldwide, transcending traditional gaming communities to become a mainstream phenomenon.
Market Analysis
Advancements in technology have played a pivotal role in catapulting eSports to its current stature. High-speed internet connectivity, powerful gaming hardware, and seamless streaming platforms have made eSports accessible to a vast global audience. The emergence of virtual reality (VR) and augmented reality (AR) technologies has further enhanced the immersive gaming experience, drawing more players and viewers into the eSports ecosystem. The escalating interest in eSports has enticed significant investment from various industries. Traditional sports franchises, entertainment companies, and tech giants have recognized the immense potential of eSports and have invested heavily in the eSports market. Moreover, the influx of sponsors and advertisers has boosted revenue streams for eSports events, teams, and players, enabling the industry to grow rapidly.
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Impact of Recession on eSports Market Growth
The eSports market's ability to navigate through recessions showcases its robustness and forward-thinking approach. By diversifying revenue streams, capitalizing on digital infrastructure, expanding its audience base, attracting non-traditional investments, and fostering adaptability, the industry has proven its resilience time and again. As the global economy continues to evolve, the market is poised to thrive and revolutionize the world of sports and entertainment, creating exciting opportunities for players, organizations, and fans alike.
eSports Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 2490.3 Mn |
| Market Size by 2030 | US$ 11983.3 Mn |
| CAGR | CAGR of 21.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| eSports Market: Key Segmentation | • By Device Type (Smartphone, Smart TV, Desktop -laptop-tablets, Gaming console) • By Streaming Type (On-demand, Live) • By Application (Platform, Service) • By Revenue Stream (Media rights, Game publisher fee, Sponsorship, Digital advertisement, Tickets, and merchandise) |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Impact of the Russia-Ukraine War
The Russia-Ukraine war has undoubtedly cast its shadow on the global eSports market, causing disruptions in regional events, shifting investment patterns, influencing sponsorships and partnerships, impacting infrastructure development, and potentially altering player migration and recruitment. While short-term challenges are inevitable, the eSports industry has historically shown resilience and adaptability. As the conflict evolves and geopolitical situations stabilize, the market is likely to find new ways to navigate these challenges and emerge stronger in the long run.
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Key Regional Developments
The regional dynamics of the eSports market reveal a fascinating tapestry of growth and development. While North America continues to thrive as an early adopter, Europe showcases its diversity and potential. Asia remains the dominating force, propelling the industry to new heights, while Latin America and Oceania emerge as promising markets with substantial growth potential. The global nature of eSports, coupled with region-specific influences, ensures that the industry's future will continue to be shaped by a wide array of cultural, economic, and technological factors.
Key Takeaway from eSports Market Study
- The smartphone segment and media rights sector are two influential segments set to dominate the market in the coming years. Mobile gaming's accessibility and technological advancements will continue to attract a broader audience, solidifying its position as a major player in eSports.
- Simultaneously, the media rights segment will play a pivotal role in ensuring the industry's continued growth by leveraging the fervent support of its digital-native audience and enticing lucrative partnerships.
Recent Developments Related to eSports Market
- Leading esports company, Gamerji, announced a significant milestone today, raising an impressive $3 million in a pre-Series A funding round. This successful funding round marks a pivotal moment for Gamerji, providing the company with substantial capital to further enhance its cutting-edge esports platform and expand its global reach.
- Korean Air announces an unprecedented partnership with the Korean national esports team, signaling a groundbreaking collaboration that highlights the growing significance of esports in the sporting world ahead of the Hangzhou Asian Games
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. eSports Market Segmentation, by Device Type
9. eSports Market Segmentation, by Streaming Type
10. eSports Market Segmentation, by Application
11. eSports Market Segmentation, by Revenue Stream
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion
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SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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