According to Fortune Business Insights, the global esports market size is expected to reach USD 5.48 billion by 2029, growing at a CAGR of 21% during the forecast period. [2022 – 2029]; The e-sports market will gradually grow; Increasing number of online players to accelerate market progress
/EIN News/ — Pune, India, Sept. 15, 2022 (GLOBE NEWSWIRE) — The global eSports market size was valued at USD 1.22 billion in 2021 and is expected to reach USD 1.44 billion in 2022. The market is expected to reach USD 5.48 billion by 2029 with a CAGR of 21.0% during the forecast period. The increase in live streaming events and the creation of revenue opportunities are expected to have a positive market trajectory. Various factors such as large investments, increase in game live streaming events, engagement activity, increase in viewership and league tournament infrastructure are estimated to propel the trajectory of the market . The growing number of esports advertisements on online platforms is propelling the growth of the market. Fortune Business Insights™ shares this information in its report titled “eSports Market share, 2022-2029.”
Impact of COVID-19:
Preference for online games during The pandemic has led to positive market growth
The COVID-19 pandemic has had a positive impact on the growth of the market owing to the increase in the number of individuals for e-sports. Social distancing rules and regulations have propelled the trend of online gaming.
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|Forecast period||2022 to 2029|
|Forecast Period 2022 to 2029 CAGR||21.0%|
|2029 value projection||$5.48 billion|
|Esports market size in 2021||$1.22 billion|
|Historical data for||2018 to 2020|
|Number of pages||150|
|Segments Covered||By streaming type, streaming revenue, game genre and region|
|Esports Market Growth Drivers||Raising awareness and availability of eSports courses during the pandemic to drive market growth|
|Live Segment to Lead Due to Growing Digitalization|
|Europe is expected to witness the fastest growth due to the presence of majority market players in the region.|
Livessegment lead due to increasing digitization
On the basis of streaming type, the market is segmented into live and on-demand. The live segment is expected to remain the key segment due to the growing focus on fan engagement. The increase in smartphone usage is likely to propel demand for the service.
Media rights be the main part of the segment due to maximum revenue generation
Based on revenue spread, the market is segmented into media rights, advertising, sponsorship, tickets and merchandise, game publisher fees, and others. The media rights segment is expected to generate maximum revenue during the forecast period. The Sponsorship and Advertising segments are also expected to see significant growth due to increased viewership.
First-person shooters will be the key segment due to the large number of players
Based on game genre, the market is categorized into real-time strategy games, first-person shooters, fighting games, multiplayer online battle arena games, mass multiplayer online role-playing games, and others. The first-person shooter segment holds the majority as it offers a large number of first-time shooters.
The report provides a detailed analysis of major segments and latest market trends. It discusses in detail the driving and restraining factors and the impact of COVID-19 on the market. Moreover, it examines the regional developments and the strategies undertaken by the major market players.
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Drivers and Restrictions
Popularity of Video Games to Increase Product Demand
Continuous advancement in technology globally is driving an increase in demand for the service, which is expected to drive the growth of the esports market. A large number of people depend on high-tech gadgets, smartphones, and the internet, which is expected to boost the market. Many vendors have adopted a recurring revenue model, which is expected to propel the market growth. There has been an increase in consumer spending, video game tournaments and virtual reality products.
However, health risks and addiction issues in esports are expected to hamper the development of the market.
North America will dominate the market due to growing number of online gamers
North America is expected to hold a majority share of the esports market share owing to the remarkable number of online gamers. The significant increase in the number of players in the United States has propelled the growth of the market.
Asia-Pacific is expected to show significant growth due to the rapid shift to digital platforms in countries like China, Japan and India. Vast opportunities for the gaming and entertainment industries provide prospects for the region.
Europe is expected to witness the fastest growth due to the presence of majority market players in the region.
Launch of a new service by market players to define a progressive path
Major market players have used new product launches to gain momentum. In September 2021, DLive launched live streaming for iPhone and Android. The new Go Live feature will provide direct access to games via smartphones, mobile dashboard and display information and stream types. This launch of new services and new features is expected to deliver innovative products over the forecast period to form a strong consumer base.
Development of key industry
- July 2021: Intel has collaborated with the International Olympic Committee to focus more on hosting one of the major virtual competitions. The sporting event is scheduled in Katowice, a city in Poland. This should happen a month before the Olympics. .
Companies Featured in the Esports Market Report
- Twitch Interactive, Inc. (USA)
- Activision Blizzard, Inc. (USA)
- Tencent Holdings Limited (China)
- Riot Games, Inc. (USA)
- Gfinity plc (UK)
- X1 Esports and Entertainment Ltd. (United States)
- Loco (Stoughton Street Tech Labs Private Limited) (India)
- Caffeine (US)
- DLive Entertainment Pte. ltd. (United States)
- Sony Group Corporation (Japan)
Quick buy – eSports Market research report:
Main points of the table of contents:
- Definition, by segment
- Methodology/Research Approach
- Information source
- Market dynamics
- Macro and micro economic indicators
- Drivers, constraints, opportunities and trends
- Impact of COVID-19
- Short term impact
- Long term impact
- Competition landscape
- Business strategies adopted by key players
- Consolidated SWOT analysis of key players
- Overview and Market Share Analysis of Global eSports Key Players, 2021
- Global Esports Market Size Estimates and Forecasts (Quantitative), by Segments, 2018-2029
- Main conclusions
- By broadcast type (USD)
- By revenue stream (USD)
- Media rights
- Ticket and merchandise
- Game publisher fees
- Other (in-app purchase and others)
- By game genre (USD)
- real-time strategy games
- First person shooters
- Fighting games
- Multiplayer online battle arena games
- Mass multiplayer online role-playing games
- Others (racing and sports simulators, and others)
- By region (USD)
- North America
- South America
- Middle East and Africa
- Asia Pacific
- North America Esports Market Size Estimates & Forecasts (Quantitative), by Segments, 2018-2029
- South America esports market size estimates and forecasts (quantitative data), by segments, 2018-2029
How big is the eSports market?
The Global Esports Market size was valued at USD 1.22 Billion in 2021 and is projected to reach the valuation of USD 1.44 Billion by 2022. The market is expected to reach USD 5.48 Billion by 2029 with a CAGR of 21 .0% over the forecast period. [2022 – 2029].
Who has the biggest market share in eSports?
North America is expected to hold the highest market share.
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