Pune, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Esports Market Size Analysis:
“The global Esports Market, valued at USD 2.0 billion in 2023, is set for explosive growth, projected to reach USD 13.7 billion by 2032. This remarkable increase represents a robust CAGR of 23.7% from 2024 to 2032.”
Market Overview
The Esports market has witnessed exceptional growth, fueled by a surge in viewership and diversified revenue streams. Competitive gaming has solidified its position within mainstream entertainment, markedly increasing the demand for esports content. On the supply side, this growth is driven by a proliferation of gaming events, advancements in streaming technologies, and innovative fan engagement tools that enhance the viewer experience.
As esports evolves, brands and media companies are capitalizing on these developments by using the platform for strategic marketing initiatives and acquiring valuable broadcasting rights. This synergy between rising consumer interest and expanding media opportunities has created a dynamic and rapidly growing market, characterized by its ability to continuously attract substantial investment and engagement. The convergence of these factors underscores the vibrant evolution of esports as a leading entertainment segment.
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Major Players Analysis Listed in this Report are:
- Activision Blizzard – (Call of Duty League, Overwatch League)
- Riot Games- (League of Legends, VALORANT)
- Electronic Arts (EA)- (FIFA eWorld Cup, Apex Legends)
- Tencent- (Honor of Kings, League of Legends (through Riot Games))
- Epic Games - (Fortnite, Epic Games Store)
- Valve Corporation - (Dota 2, Counter-Strike: Global Offensive)
- Microsoft - ( Xbox Game Pass, Halo Championship Series)
- NVIDIA – (GeForce Graphics Cards, NVIDIA GameWorks)
- AMD – (Radeon Graphics Cards, Ryzen Processors)
- Corsair – (Gaming Keyboards, Gaming Mice)
- ASUS – (ROG Gaming Laptops, ROG Motherboards)
- Intel- (Intel Core Processors, Intel Extreme Masters (ESports Event))
- Logitech – (Logitech G Gaming Peripherals, Logitech G Pro Wireless Mouse)
- Twitch Interactive – (Twitch Streaming Platform, Twitch Prime (Gaming Perks))
- YouTube Gaming –(YouTube Live Streaming, YouTube Gaming Channel)
- FACEIT – ( Online Competitive Gaming Platform, FACEIT Major)
- ESL Gaming – (ESL Pro League, ESL One Tournaments)
Esports Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 2.0 bn |
| Market Size by 2032 | US$ 13.7 bn |
| CAGR | CAGR of 23.76 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| 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) |
| Key Growth Drivers | • Major brands invest heavily, with sponsorships contributing to nearly 60% of total revenue. • 5G, VR, and other tech innovations enhance gaming experiences and fan engagement. |
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Segment Analysis
By Revenue Source
In 2023, the sponsorship segment led the Esports market, accounting for over 39.9% of global market revenue. Major brands like Nvidia, Red Bull, BMW, and Coca-Cola have heavily invested in esports to engage with a broad and enthusiastic audience. This segment's dominance is driven by brands' strategic use of esports for enhanced brand visibility and interactive consumer engagement.
Conversely, the media rights segment is expected to grow at the highest CAGR of over 24.1% during the forecast period. The rise in media rights is fueled by the increasing number of leagues, championships, and events broadcast on platforms like Twitch and YouTube Gaming.
By Streaming Type
The live-streaming segment dominated the market in 2023, representing over 54% of the revenue share. The real-time engagement and immersive experience offered by live events are key drivers of this segment's success. Platforms such as Twitch and YouTube Gaming facilitate live interactions, drawing millions of viewers worldwide and attracting substantial sponsorship investments. The Video-on-Demand (VoD) segment is anticipated to grow significantly due to its flexibility and convenience, allowing fans to access esports content at their convenience and catering to global audiences across different time zones.
By Gaming Genre
The first-person shooter (FPS) games segment was the dominant force in the market in 2023, holding over 39.2% of the market share. This segment's growth is driven by the genre's realistic 3D environments and extensive offerings from developers, attracting large audiences and high engagement rates. The multiplayer online battle arena (MOBA) games segment is expected to experience significant growth, driven by new trends such as cross-platform play and the rise of mobile MOBA games. Innovations like AI and virtual reality are expected to enhance gameplay and expand the market for MOBA games.
Esports Market Segmentation:
By Revenue Source
- Sponsorship
- Advertising
- Merchandise & Tickets
- Publisher Fees
- Media Rights
By Streaming Type
- Live
- Video-on-demand
By Gaming Genre
- Real-time Strategy Games
- First Person Shooter Games
- Fighting Games
- Multiplayer Online Battle Arena Games
- Mass Multiplayer Online Role-playing Games
- Others (Racing and eSports Simulators and Others)
Regional Analysis
North America
North America is the leading region in the Esports Market, holding a significant share in 2023. This dominance is attributed to the presence of major esports organizations, a high concentration of tech companies, and substantial investments in esports infrastructure.
Asia-Pacific
The Asia-Pacific region is experiencing rapid growth and is expected to become a major player in the Esports Market. The region's expansive gaming culture, high internet penetration rates, and significant investments in esports infrastructure are key growth drivers. Countries like China and South Korea are at the forefront, with companies like Tencent and PUBG Corporation leading the charge.
Recent Developments
- July 2024: Valorant Champions Tour (VCT) 2024 Announced: Riot Games unveiled the VCT 2024, featuring an expanded global tournament series with increased prize pools and new regional qualifiers.
- August 2024: Launch of Twitch Rivals 2024: Twitch introduced Twitch Rivals 2024, featuring high-stakes esports tournaments across multiple games to boost viewer engagement and brand partnerships.
- September 2024: Epic Games' Fortnite World Cup 2024: Epic Games announced the Fortnite World Cup 2024 with a record-breaking prize pool and new competition formats to enhance viewer experience.
- September 2024: YouTube Gaming Launches Enhanced Esports Hub: YouTube Gaming introduced an upgraded esports hub, offering improved streaming capabilities and exclusive content for fans and players.
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Key Takeaways
- The Esports Market is rapidly expanding, driven by increased sponsorships, media rights, and diverse streaming options.
- North America remains the leading region, while Asia-Pacific is experiencing significant growth.
- The market's future is promising, with ongoing innovations and increased investments in esports infrastructure.
- Recent developments, including major tournaments and new platform features, highlight the industry's dynamic nature and its potential for further growth.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Esports Market Segmentation, By Revenue Source
8. Esports Market Segmentation, by Streaming Type
9. Esports Market Segmentation, by Gaming Genre
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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