The report is titled ‘Esports Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the Esports market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Esports market is expected to grow at a significant rate in the near future.
The global Esports market is estimated to reach at a value of US$ 1,070.3 Mn by the end of 2020 and expected to reach at a value of US$ 3,538.6 Mn by 2028 with a significant CAGR of 16.2%
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Esports Introduction
The gaming and Esports industry has turned into the mainstream in the past few years, switching over from a vivid niche to a primary form of entertainment all around the globe, and ticket sales are transforming from the field to the internet. Despite the fact that esports might have once stood for a subspace of sports culture, it has evolved into a complete industry of its own accord.
Although the subject of computer games on the whole is slightly becoming acknowledged and approved in the world of academics, the academic research of competitive computer gaming, more commonly known as Esports, is still in its early stages. Strangely enough, there is at present no customarily approved definition of the term ‘Esports’ at all.
Although, the basic definition of Esports can be, “a format of sports where the fundamental prospects of the sport are simplified by electronic systems; the data input of teams and players as well as the output of the Esports system are arbitrated by human-computer interfaces.” To put it in more practical terms, Esports basically pertain to competitive (amateur and pro) video gaming that is usually harmonized by various ladders, leagues, and tournaments, and where players generally belong to teams or other “sporting” organizations which are promoted by different business organizations.
Over the past few years, Esports (electronic sports) have evolved into one of the most swiftly flourishing forms of new media majorly driven by the rising emergence of (online) games as well as on stream broadcasting technologies.
Esports Market Dynamics
The expeditiously rising popularity and trend of video games among the population, especially the youth, all around the world is one of the primary factors that has driven the growth of the global Esports market. Whilst video games and the whole gaming industry has become a rapidly booming entertainment business, it is also favorably reshaping and modifying the way people interact and communicate with the virtual world.
In the present-day world, the video game industry encourages and triggers innovation by invariably stretching the boundaries of the probable possibilities, ultimately boosting market giants like Microsoft and Google to generate new technology in order to serve the millions of gamers around the globe. Owing to which, the global Esports market is projected to witness significant growth in the years to come.
The growing popularity of video games among children and youth across the world has also stimulated heavy investments by market giants and leading companies, which is also acting as a positive factor for the future growth of the global Esports market.
Moreover, the briskly emerging trend of live streaming of online games as well as the widespread reach of audiences all around the world is another major factor owing to which Esports market is expected to climb higher in the forthcoming years.
In addition to the rapidly surging population of video games, there has been soaring infrastructure for the league tournaments as well, which is further propelling the growth of the global Esports market in the near future.
By the same token, the increasing trend of mobile gaming, as well as shifting entertainment preferences of consumers and increased income levels of consumers has also given a huge breakthrough to the growth of the global Esports market.
Furthermore, the global pandemic of COVID-19 has compelled millions of billions of people around the globe to stay at home and spend more leisure time at home, where the entertainment business has jumped into action to capture the attention of billions of masses, with live-streaming of opera performances, concerts, museum tours and many more.
Attributing to such conditions, the influence on the video-game industry has been even bigger, as many took up the pastime or increased the amount of time they play. According to Verizon, an American multinational telecommunications conglomerate, the overall video-game internet traffic has escalated 75% subsequent to restrictions and regulations were imposed in America.
Remarkably, the market for Esports has developed by around 18% worldwide in the past 5 years. In a similar manner, the global Esports market is estimated to grow significantly in the coming years as well.
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Esports Market Segmentation
The global Esports market is segmented on the basis of revenue streams and region. On the basis of the revenue streams, the Esports market is segmented into Media Rights (Subscriptions, Online Advertisements), Tickets and Merchandise, Sponsorships and Direct Advertisements, Publisher Fees.
The research report classifies the global Esports market based on revenue streams and region.
By Revenue Streams
- Media Rights
- Subscriptions
- Online Advertisements
- Tickets and Merchandise
- Sponsorships and Direct Advertisements
- Publisher Fees
By Region
- North America
- Latin America
- Africa
- Europe
- Asia Pacific
- Middle East
Esports Market Key Players
The global Esports market is dominated by Modern Times Group, Activision Blizzard, FACEIT, Nintendo, Gfinity, Turner Broadcasting System, CJ Corporation, Valve Corporation, Tencent, and Electronic Arts (EA), among others.
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