Press Release / Global eSports Market
eSports Market Size to Reach USD 9.29 Billion by 2032; Growing Number of Advertisements on Gaming Platforms to Propel Market Growth
May 25, 2023 | Information & TechnologyThe esports market size touched USD 1.72 billion in 2023 and is predicted to be valued at USD 2.06 billion in 2024. The market size is anticipated to reach USD 9.29 billion by 2032, recording a CAGR of 20.7% over 2024-2032.
Fortune Business Insights™ displays this information in its latest report titled “eSports Market Size, Share, and COVID-19 Impact Analysis,, By Streaming Type (Live and On-demand), By Revenue Streaming (Media Rights, Advertisement, Sponsorship, Ticket & Merchandise, Game Publisher Fees, and Others), By Gaming Genre (Real-Time Strategy Games, First Person Shooter Games, Fighting Games, Multiplayer Online Battle Arena Games, Mass Multiplayer Online Role-Playing Games, and Others), and Regional Forecast, 2024-2032”.
COVID-19 Caused Tremendous Rise in Demand for Online Gaming Platforms
Online gaming platforms witnessed tremendous increase in demand during the COVID-19 pandemic as more people turned to virtual entertainment mediums due to lack of outdoor sports activities. Since social distancing rules were enforced by governments across the world, virtual gaming platforms became the most popular way of filling the gaps in social interactions during this period. Many video gaming companies also took advantage of this scenario and introduced innovative games to encourage more people to join online gaming websites. These factors boosted the esports market growth.
Ads to Become Major Revenue Source for the Electronic Sports Industry
Advertisements are increasingly becoming a major source of revenue for electronic sports platforms. These ads are usually displayed on electronic sports TV and during the live streaming of games on virtual platforms. Advertisements will continue to account for a large source of revenue for these firms in the future due to a robust rise in viewership across online platforms such as Twitch and YouTube.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/esports-market-106820
Competitive Landscape
Key Players to Create Unique Electronic Sports Programs to Strengthen their Market Positions
The market has a vibrant startup ecosystem. Many of these startups are likely to bring innovations and upgrades to their business processes to expand their customer base. They may also create unique sports analysis solutions for their end-users. This ecosystem creates strong competition among new and well-established companies and intensify their research and development activities and implement a wide range of advanced technologies and upgrade their current product portfolios. This healthy competition is expected to create attractive growth opportunities for the market participants, which will help them expand their market presence.
Notable Industry Development:
- August 2022 - X1Esports acquired Tyrus LLC to increase its penetration across the Gen Z population and supplement its revenue streams.
List of the Companies Profiled in the Report:
- Twitch Interactive, Inc. (U.S.)
- Activision Blizzard, Inc. (U.S.)
- Tencent Holdings Limited (China)
- Riot Games, Inc. (U.S.)
- Gfinity plc (U.K.)
- X1 Esports and Entertainment Ltd. (U.S.)
- Loco (Stoughton Street Tech Labs Private Limited) (India)
- Caffeine (U.S.)
- DLive Entertainment Pte. Ltd. (U.S.)
- Sony Corporation (Japan)
Further Report Findings
- North America accounted for the biggest esports market share in 2022. One of the major factors contributing to the regional market’s growth is the notable presence of online gamers that is anticipated to fuel the industry growth. Some of the leading organizations in the region include Activision Blizzard, Inc., Riot Games, Inc., X1 Esports and Entertainment Ltd., and many others. These companies are raising their investments in various research & development activities to obtain a competitive edge and offer high-quality gaming experience to gamers.
- Asia Pacific is projected to record the highest CAGR during the forecast period. Countries, such as China, Japan, and India, are witnessing a large-scale switch to digital platforms as people are looking for different ways to satisfy their entertainment needs. These countries also have a vast pool of gamers, which will further boost the demand for electronic sports platforms. South Korea is also becoming a promising market for video gaming companies to expand their operations due to the growing number of gaming viewers. There are several lucrative opportunities for the gaming & entertainment industry to grow in the Asia Pacific region, which has surged the demand for electronic sports.
- The first person shooter games segment is expected to hold a dominant share during the forecast timeline. A wide range of virtual game developers are focusing on offering a wide variety of first-person shooter games. Such variety in genres can easily encourage gamers to choose their areas of interest with respect to gaming, which can consequently improve their experience. Such shooting games are said to be quite engaging, which can motivate more gamers to try these games. These games also offer a realistic and immersive 3D environment; such aspects are predicted to boost the market progress in the future.
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2019-2022 |
Growth Rate | CAGR of 20.7% from 2024 to 2032 |
Unit | Value (USD Billion) |
Segmentation | By Streaming Type, Revenue Streaming, Gaming Genre, and Region |
By Streaming Type |
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By Revenue Streaming |
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By Gaming Genre |
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By Region |
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- 2023
- 2019-2022
- 150
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