The Esports market is driven by increasing digitalization, rising viewership, and growing investments from sponsors and advertisers. Technological advancements and the popularity of online streaming platforms also boost growth. However, the market faces restraints such as high initial setup costs, regulatory challenges, and concerns over gaming addiction and mental health. Additionally, the need for robust infrastructure and the risk of cyber threats can hinder market expansion.
Lewes, Delaware, July 09, 2024 (GLOBE NEWSWIRE) — The Global Esports Market Size is projected to grow at a CAGR of 21.5% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.1 Billion in 2023 and is expected to reach USD 7.5 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Esports Market Size”
202 – Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Activision Blizzard (US), Electronic Arts (US), Tencent Holdings (China), Valve Corporation (US), Twitch Interactive (US), Sony Group Corporation (Japan) |
| SEGMENTS COVERED | Revenue Streams, Game Genre, Platform, And Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Esports Market Overview
Increasing Digitalization: The Esports market is expanding rapidly due to increased digitalization. As more individuals gain access to high-speed internet and digital devices, demand for online gaming and Esports events has increased, increasing income and attracting investment from large tech and media businesses.
Rising Viewership: The growing global audience for esports considerably drives industry growth. With platforms like Twitch and YouTube Gaming, viewership numbers are skyrocketing, attracting more marketers and sponsors, hence increasing the profitability and popularity of the Esports business.
Growing Investments: Sponsorship, advertising, and venture capital investment are key drivers of the Esports sector. Major brands are recognising the benefits of Esports for engaging younger demographics, resulting in increasing spending for events, teams, and infrastructure development, propelling market expansion.
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High Initial Setup Costs: The Esports market confronts hurdles due to the significant upfront expenditures associated with establishing competitive gaming infrastructure and organising large-scale events. This costly barrier can deter new participants and impede the pace of the market’s growth and evolution.
Regulatory Challenges: Regulatory difficulties in several places place considerable constraints on the Esports market. Inconsistent legislation and legal ambiguities surrounding online gaming and betting can generate operational complexity, thereby suffocating business growth and innovation.
Concerns Over Gaming Addiction: The growing concerns about gaming addiction and its influence on mental health pose a significant barrier to the Esports sector. Negative impressions and possibly governmental steps to mitigate these difficulties might impede market expansion and limit the appeal to new participants.
Geographic Dominance:
Asia-Pacific, North America, and Europe dominate the global esports market. Asia-Pacific leads due to a large number of gamers and advanced internet infrastructure, which promotes rapid industry growth. North America follows with huge investments and a robust Esports culture. Europe benefits from more viewership and government assistance. This regional dominance influences market growth by drawing worldwide sponsors, increasing revenue sources, and boosting international collaborations and tournaments.
Esports Market Key Players Shaping the Future
Major players, including Activision Blizzard (US), Electronic Arts (US), Tencent Holdings (China), Valve Corporation (US), Twitch Interactive (US), Sony Group Corporation (Japan) and more, play a pivotal role in shaping the future of the Esports Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Esports Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Esports Market into Revenue Streams, Game Genre, Platform, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Esports Market, please Contact Verified Market Research®.
- Esports Market, by Revenue Streams
- Media Rights
- Sponsorships and Advertising
- Merchandising and Ticket Sales
- Prize pools from tournaments
- Game Publisher Fees
- Esports Market, by Game Genre
- First-Person Shooter (FPS)
- Multiplayer Online Battle Arena (MOBA)
- Real-Time Strategy (RTS)
- Battle Royale
- Sports Simulation
- Esports Market, by Platform
- PC
- Console
- Mobile
- Esports Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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Top Esports management softwares: Resurrection of online gaming industry
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