Press release
Esports Market is Expected to Grow at a CAGR of ~25% (2021-2027) | Industry Overview by Top Players - Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation
Esports Market
Market Overview
The growing youth population and changing lifestyles have both contributed to an increase in demand for video games and online video games over the years. Growing audience reach and engagement activities, significant investments, rising live streaming of games, and expanding infrastructure for league tournaments are key factors driving the market growth. Global online platforms such as Facebook, YouTube, and Twitch, which allow streamers to gain popularity and impressive earnings, have contributed to the esports market share's increased growth. Increased smartphone penetration and improved internet connectivity have resulted in a rapid increase in the number of gamers. Furthermore, the increasing adoption of advanced gaming technologies increased smartphone penetration, and improved internet connectivity has increased the number of gamers, positively influencing the market growth.
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COVID-19 Impact
The outbreak of the COVID-19 pandemic has positively impacted the growth of the Esports market. The imposition of lockdown and social distancing norms has compelled people to engage with one another through digital as well as virtual platforms and mediums. In addition, digital transformation in the online gaming sector has contributed to the emergence of Esports. However, the deployment of Esports was affected by the restricted supply of auxiliary tools like gaming setup, joypad, and console sensors & screens. However, with the relaxations in the lockdown norms and regulations, the growth of the Esports market would surge in the coming years. During the lockdown, people were compelled to follow the stay-at-home orders and could not move outside to play sports on grounds, which has shifted their focus on Esports events and thus, augmented the demand for online video games. Several end-users have created online tournaments of famous or popular games, which has fueled the demand for these games in the market. For instance: According to a Survey, COVID-19 pandemic caused major positive impacts on the routine of gamers This also resulted in a spike in the amount of time spend on mobile gaming and the number of apps they experimented with. Among the committed gamers, 40 per cent spent more time on Esports, while 38 per cent of them increased the variety of the games they played.
Esports Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Application, the market is primarily bifurcated into:
• Platform
• Service
By Application, Esports Market is classified into Platform and Services. Platform holds the highest share in the Esports market. The pop-culturization of the Esports industry has helped power the explosions in Esports investment and revenue. Esports has hit this stratosphere in large part because of the social component of live streaming and gaming. Video gaming-specific streaming platforms like Twitch and YouTube Gaming give fans a direct connection to the players and teams, while more mainstream socials have allowed those connections to flourish.
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By Streaming Type, the market is primarily studied into:
• On Demand
• Live
Based on Streaming Type, the Esports market is segmented into On Demand and Live. The large share of the streaming type segment can be attributed to the growing youth population and changing lifestyles have both contributed to an increase in demand for video games and online video games over the years. Growing audience reach and engagement activities, significant investments, rising live streaming of games, and expanding infrastructure for league tournaments are key factors driving the market growth.
By Device Type, the market is primarily studied into:
• Smartphone
• Smart TV
• Dekstop/Laptop/Tablets
• Gaming Console
Based on Device Type, the Esports market is segmented into Smartphone, Smart TV, Desktop/laptop/tablets and Gaming console. Smartphone holds the highest share in the Esports market. The constant technological advancements across the world have compelled people to depend on smartphones, several high-tech gadgets, and the internet.
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By Revenue Stream, the market is primarily studied into:
• Sponsorship
• Media Rights
• Digital Advertisement
• Game Publisher Fee
• Tickets and Merchandise
Based on Revenue Stream, the Esports market is segmented into Media rights, Game Publisher fee, sponsorship, digital advertisement, tickets and merchandise. Sponsorship holds the highest share in the Esports market. On ground sponsoring is cheaper than an online advertisement, and tends to be influential, especially, for companies offering products and services directly related to gaming.
Esports Market Region Segmentation Includes:
• North America
• Europe
• Asia Pacific
• Rest of World
Based on the estimation, North America dominated the market in 2020. Asia-Pacific is expected to witness the highest CAGR growth during the forecast period.
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The major players targeting the market includes:
• Activision Blizzard, Inc.
• CJ Corporation
• Electronic Arts
• FACEIT
• Gameloft SE
• Gfinity
• Kabam
• Modern Times Group
• Nintendo
• NVIDIA Corporation
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Esports Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and advancements in the Esports market?
• Which factors are influencing the Esports market over the forecast period?
• What are the global challenges, threats, and risks in the Esports market?
• Which factors are propelling and restraining the Esports market?
• What are the demanding global regions of the Esports market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature. Please let us know If you have any custom needs.
UnivDatos Market Insights
Pawnendra Pawan
Client Development Lead
Ph: +91-7838604911
Email: pawnendra@univdatos.com
Website: https://univdatos.com/
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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