Esports Market Forecast | 2022-28

Market Insights

The Esports Market was estimated to grow from USD 2.2 billion in 2021 to USD 9.1 billion by 2028 at a CAGR of over 22.5% during the forecast period.

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What is esports?

Esports, short for electronic sports, is a type of video game competition. esports are frequently organized, multiplayer video game competitions, especially between professional players, either individually or as teams.

Key Players

The key players operating in the Esports market are-

• Turner Broadcasting System (US)
• Activision Blizzard (US)
• FACEIT (UK)
• Nintendo (Japan)
• Gfinity (UK)
• CJ Corporation (South Korea)
• Valve Corporation (US)
• Tencent (China)
• Electronic Arts (EA) (US)
• Modern Times Group (Sweden).

Market Dynamics

The esports market is driven by a host of factors, some of which are noted below:

• Growing audience reach and engagement activities, significant investments, rising live streaming of games, and expanding infrastructure for league tournaments are key factors driving market growth.
• Professionalization of the industry has resulted in lucrative opportunities for game developers, gamers, influencers, and event organizers Because of the increased popularity of gaming tournaments, impressive international prize pools, streaming revenues, and one-to-one sponsorships, millennial are considering esports as a professional career.
• Furthermore, universities and colleges are developing an esports curriculum to train skilled professionals.

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Segments Analysis

Revenue Trends

The market has been classified into Sponsorship, Advertising, Merchandise & Tickets, Publisher Fees, and Media Rights. Under these, the Sponsorship segment held a significant market share of more than 38% in 2021. Sponsorship provides a significant opportunity for various brands to directly reach their target audience via offline and online media channels.

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Regional Trends

By region, the North American market held the largest share of more than 35.0% in 2021, with the U.S. at the forefront. the region has consistently dominated the market, with PC gaming serving a more niche group of consumers. Investment and growth are expected to continue in the coming years with the franchised North America League of Legends Championship Series (NA LCS) and Overwatch League. In the United States, esports is a multimillion-dollar industry involving game developers, players, leagues, TV networks, and streaming platforms. The North America Scholastic esports Federation (NASEF) is working to develop the ecosystem by organizing student tournaments, assisting high schools in establishing esports clubs, and providing coaching and mentorship.

The esports market is segmented into the following categories:

By Revenue

• Sponsorship
• Advertising
• Merchandise & Tickets
• Publisher Fees
• Media Rights

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and Rest of Asia-Pacific
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others).

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COVID-19 Impact on Esports Market

The COVID-19 health crisis is affecting numerous aspects of everyone's daily lives and is expected to have an impact on various business sectors. Many tournaments and leagues have been cancelled, postponed, or altered as a result of the coronavirus outbreak. In some cases, the event is held in a closed stadium and is streamed live online to the audience. Only 8% of live events at COVID-19 have been cancelled, 26% have been postponed, 13% are still on schedule, and a sizable 53% have been shifted to the online platform. Under these conditions, the industry is expected to grow modestly in 2020. After 2020, the market is expected to remain stable and grow steadily.

Critical Questions Answered in the Report

• What are the key trends in the Esports market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on Esports market?
• What are the key strategies adopted by the major vendors to lead in the Esports market?
• What is the market share of the top vendors?

Target Audience

The target audience of Esports Market includes-

• Esports companies
• Esports distributors
• Hospitals
• Government organizations

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors.

Research Methodology

• This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with the companies across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Segmentation

• Current market segmentation of any one of the technology types by component type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Technology portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.