Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The "Esports Market Report by Revenue Model, Platform, Games (Multiplayer Online Battle Arena, Player vs Player, First Person Shooters, Real Time Strategy), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global esports market size reached US$ 1.8 Billion in 2023. Looking forward, the market is expected to reach US$ 8.2 Billion by 2032, exhibiting a growth rate (CAGR) of 18.4% during 2023-2032. The market is primarily driven by rising internet penetration, significant innovations in gaming technology, increasing popularity of live-streaming platforms, and favorable investments from sponsors and advertisers. 
The Esports market growth is driven by rising global internet penetration and proliferation of smartphones, enabling wider access to online gaming. Moreover, significant investments from key brands and advertisers improve financial visibility and professional opportunities within the industry. The growing organization of leagues and tournaments further attracts substantial viewership and participation, thus propelling market growth.
Some of the key trends shaping the Esports market outlook involve the rising popularity of mobile gaming, which expands the audience base due to its accessibility. The widespread integration of virtual and augmented reality (VR/AR) improves the gaming experience, making it more immersive. Besides this, the rise of live-streaming platforms fosters community engagement and real-time interaction, driving higher viewer participation and monetization opportunities for players and sponsors, which, in turn, is impacting the esports market forecast positively.
Asia Pacific leads the market owing to its large and young population, high internet penetration rates, and strong cultural affinity for gaming. Countries such as China and South Korea house well-established gaming infrastructures and host some of the world's largest Esports tournaments. The market is further propelled by favorable government support and investment in digital infrastructure that have attracted global Esports companies and fostered a vibrant competitive landscape.
Some of the major market players in the Esports industry include Activision Blizzard Inc., Capcom Co. Ltd., Electronic Arts Inc., Epic Games Inc., FACEIT, Gameloft SE (Vivendi SE), Gfinity PLC, Intel Corporation, Modern Times Group, Nintendo Co. Ltd., NVIDIA Corporation, Riot Games Inc., Valve Corporation, and Zynga Inc., among many others.
Opportunities in the Esports market include expanding into emerging markets, enhancing player and audience engagement through technological advancements, and leveraging sponsorship and advertising revenues. Challenges involve addressing issues like cyber threats, ensuring fair play and integrity in competitions, and managing the mental and physical health of professional gamers. Balancing rapid growth with sustainable practices and regulatory compliance also poses significant challenges.
Esports Market Trends:
Increasing Internet Penetration
The rapid penetration of internet and increasing accessibility to high-speed internet globally facilitates the growth of online gaming communities and tournaments. For instance, in 2024, 5.35 billion people, representing 66.2 percent of the global population, are using the internet. Over the past year, the number of internet users has increased by 1.8 percent, with 97 million individuals going online for the first time in 2023. As the internet's capabilities evolve and adapt to people's lifestyles, the number of users is expected to set to rise rapidly. High-speed internet connections enable seamless streaming and competitive gameplay, attracting more participants and viewers to the Esports ecosystem.
Rising Investments from Sponsors and Advertisers
Significant financial support from major brands and advertisers boosts the professional Esports landscape. This investment funds tournament prizes, player salaries, and infrastructure development, making Esports a lucrative career option and enhancing its visibility and credibility. For instance, in June 2024, the International Olympic Committee (IOC) proposed the inclusion of Esports in the global sporting community through the "Olympic Esports Games." This proposal will be discussed at the 142nd IOC Session during the Paris 2024 Olympics. Esports made its debut as an official medal sport at the Asian Games 2022 in Hangzhou. Such significant events aids in substantially increasing the esports market value around the globe.
Growing Recognition of Esports as a Legitimate Sport
The growing acceptance of Esports as a competitive sport with organized leagues and tournaments drives the esports demand and its immense popularity. This recognition has led to the formation of structured competitions that attract both participants and spectators. For instance, in July 2024, Skyesports hosted India's first LAN tournament, the Finals Esports Revolution Showdown, in Chennai. The successful execution of such high-profile events showcases the professionalization of Esports, drawing significant media coverage and increasing viewer engagement. This, in turn, legitimizes Esports as a mainstream entertainment and professional avenue, further fueling market expansion.
Key Questions Answered in This Report
- What was the size of the global esports market in 2023?
- What is the expected growth rate of the global esports market during 2024-2032?
- What are the key factors driving the global esports market?
- What has been the impact of COVID-19 on the global esports market?
- What is the breakup of the global esports market based on the revenue model?
- What is the breakup of the global esports market based on the games?
- What are the key regions in the global esports market?
- Who are the key players/companies in the global esports market?
Competitive Landscape
- Activision Blizzard Inc.
- Capcom Co. Ltd.
- Electronic Arts Inc.
- Epic Games Inc.
- FACEIT
- Gameloft SE (Vivendi SE)
- Gfinity PLC
- Intel Corporation
- Modern Times Group
- Nintendo Co. Ltd.
- NVIDIA Corporation
- Riot Games Inc.
- Valve Corporation
- Zynga Inc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $1.8 Billion |
| Forecasted Market Value (USD) by 2032 | $8.2 Billion |
| Compound Annual Growth Rate | 18.4% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Esports Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Revenue Model
6.1 Media Rights
6.2 Advertising and Sponsorships
6.3 Merchandise and Tickets
6.4 Others
7 Market Breakup by Platform
7.1 PC-based Esports
7.2 Consoles-based Esports
7.3 Mobile and Tablets
8 Market Breakup by Games
8.1 Multiplayer Online Battle Arena (MOBA)
8.2 Player vs Player (PvP)
8.3 First Person Shooters (FPS)
8.4 Real Time Strategy (RTS)
9 Market Breakup by Region
For more information about this report visit https://www.researchandmarkets.com/r/ygntjl
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