Pune, India, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The global eSports market size was valued at USD 1.45 billion in 2022 and is projected to reach USD 6.75 billion by 2030, exhibiting a CAGR of 21.5% during the forecast period. Fortune Business Insights has presented this information in their latest report titled "Global eSports Market Forecast, 2023-2030."
The concept of live game streaming is gaining immense traction among the younger population as these youngsters can easily access the internet. Many companies are also increasing their investments in a wide range of gaming companies to expand their customer base and appeal to a younger audience. There is a strong demand for a reliable and safe online gaming infrastructure to conduct various gaming tournaments. These factors are expected to boost the esports market growth.
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Key Industry Development
February 2023: India-based Loco and Avalanche Subnet announced a multiverse incentive program. Loco is building Web3 products suite to offer a unique fan experience. It is providing the suite to its vast customer base with low network charges and low latency.
Key Takeaways
- eSports market size in North America was USD 0.44 billion in 2022.
- Growing Popularity of Video Games to Accelerate the eSports Market Progress.
- Rising Online Gaming Viewership to Augment the Media Rights Segment Growth.
- Availability of Variety of Games to Bolster Preference for First Person Shooter Games.
Discover the Leading Players Featured in the Report:
“Companies leading the global eSports market are 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 Corporation (Japan)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 21.5% |
| 2030 Value Projection | USD 6.75 Billion |
| Base Year | 2022 |
| ERP Software Market Size in 2022 | USD 1.45 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 140 |
| Segments covered | Streaming Type, Revenue Streaming, Gaming Genre and Geography |
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Drivers and Restraints:
Video Games to Witness Robust Popularity among Gamers
Constant innovations in technology have forced people to rely on smartphones, high-tech gadgets, and the internet. Since many people are interested in playing video games, video gaming firms are using a recurring revenue model. Additionally, there has been a significant rise in the purchase of virtual reality products, video game tournaments, and consumer spending on video content, further boosting the market growth.
However, rising addiction and health concerns due to excessive gaming can restrict market development.
Segmentation
By Streaming Type
- Live
- Video-on-demand
By Revenue Streaming
- Advertisement
- Sponsorship
- Ticket & Merchandise
- Game Publisher Fees
- Others (In-app Purchase and Others)
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)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Dominate due to Presence of Leading Organizations
North America is set to dominate the esports market share as the region has a notable presence of renowned video gaming companies and a vast percentage of the youth population is engaged in online gaming. The firms are increasing their investments in R&D activities to cater to unique customer requirements.
Asia Pacific is also predicted to become a major market in the future as the percentage of the gaming population in China, India, and Japan is expanding at a notable rate.
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Competitive Landscape:
Leading Companies to Create Unique Sports Platforms to Cement their Market Positions
The market has a notable presence of online gaming startups that are innovating their daily business operations to create engaging sports analytics platforms. Such an environment can bolster market competition, prompting well-established players to upgrade their current product offerings with the help of innovative technologies.
FAQs
How big is the eSports market?
The eSports market size was USD 1.45 billion in 2022. It is expected to reach USD 6.75 billion by 2030.
How fast is the eSports market growing?
The eSports market will exhibit a CAGR of 21.5% during the forecast period, 2023-2030.
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