Press release
Esports Market is projected to grow at a CAGR of 24.4% from 2023 to 2029, reaching nearly US$ 9.75 Billion by 2029
Esports Market
The Esports Market report provides an in-depth overview of the industry, highlighting key factors driving market growth. It underscores the significant role played by the increasing audience, rising live streaming, and engagement activities in the industry's expansion. The report explores the opportunities created for game developers, gamers, and event organizers due to the surging popularity of gaming tournaments, prize pools, and sponsorships. Notably, non-endemic companies like Arby's, Coca-Cola, and Mercedes entered the market, contributing to a 34% growth in the industry. The report emphasizes that esports has evolved from a gaming sub-segment to become a standalone sector.
Maximize Market Research Pvt Ltd employs a comprehensive research methodology that combines primary and secondary data sources. The research process involves a detailed examination of various factors affecting the industry, including government policies, market dynamics, historical data, current market trends, technological advancements, market risks, opportunities, and challenges. The report normalizes market sizes for top-level markets and sub-segments, accounting for variables like inflation, economic fluctuations, regulatory changes, and more in market forecasting.
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Esports Market Dynamics:
Market Drivers: The report identifies significant drivers propelling the Esports Market, including-
Media Rights and Sponsorship: Media rights and sponsorship generated substantial income, accounting for 75% of overall market revenue in 2020. This figure is projected to rise to 76% of esports revenue by 2023.
Global Esports Audience: The global esports audience reached 495.0 million individuals in 2020, with esports fans accounting for 222.9 million, indicating the industry's widespread appeal.
Regional Revenue Growth: China led the market with total revenues of $385.1 million in 2020, followed by North America and Western Europe.
Average Revenue per Esports Enthusiast: The global average revenue per Esports Enthusiast increased from $4.80 in 2019 to $4.94 in 2019.
Most-Watched Tournaments: The League of Legends World Championship and the Overwatch League were the most-watched tournaments in 2019, with millions of live viewership hours on Twitch and YouTube.
Market Restraints: The report also highlights certain restraints, including-
Challenges in Broadcast Advertising: While broadcasting is critical in the esports world, the industry has faced challenges in traditional media broadcasting. However, digital platforms like Twitch and YouTube have increased coverage.
Synchronous Mobile Gaming: The rise of asynchronous games and synchronous mobile gaming tournaments is driving growth in the mobile esports industry, but it is still in its early stages.
Esports Market Regional Insights:
North America: In 2022, North America held the highest revenue share of over 39%, with the United States at the forefront. The region has dominated the industry for years and is expected to continue its investment and expansion.
Asia Pacific: The Asia Pacific region is anticipated to be the second-largest market, driven by increasing adoption of mobile gaming and internet usage. Countries like China and South Korea have made significant strides in esports.
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Esports Market Segmentation:
by Gender
Male
Female
by Audience
Regular Viewers
Occasional Viewers
by Revenue Model
Sponsorship & advertising
Esports betting & fantasy site
Prize pool
Amateur & micro tournament
Merchandising
Ticket sale
Esports Market Key Players:
1. Modern Times Group (Sweden)
2. Activision Blizzard (US)
3. FACEIT (UK)
4. Nintendo (Japan)
5. Gfinity (UK)
6. Turner Broadcasting System (US)
7. CJ Corporation (South Korea)
8. Valve Corporation (US)
9. Tencent (China)
10. Electronic Arts (EA) (US)
11. Gameloft SE
12. NVIDIA Corporation
13. Intel Corporation
14. HTC Corporation
15. Epic Games
To Know More Details of Report:https://www.maximizemarketresearch.com/market-report/global-esports-market/36686/
Table of content for the Esports Market includes:
1. Global Esports Market: Research Methodology
2. Global Esports Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Esports Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size and Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize Market Research:
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