The global Esports market size was valued at USD 1.74 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 20.4% during the forecast period, reaching a value of USD 6.78 billion by 2030.
Esports market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Esports, short for electronic sports, is a rapidly growing form of competitive video gaming. It involves individuals or teams competing against each other in various video game titles, often in organized tournaments with substantial prize pools. Esports has gained immense popularity worldwide, attracting both players and a massive audience of spectators. It's not merely about gaming; it's a dynamic blend of strategy, skill, teamwork, and entertainment. Esports events are often streamed online, drawing millions of viewers, and have even found their way into large arenas, mirroring the excitement of traditional sports. This phenomenon represents a significant cultural shift, with esports becoming a legitimate and influential part of the global entertainment industry.
MARKET DYNAMICS:
In the ever-evolving landscape of the Esports market, several key factors drive its growth, while others present challenges and opportunities. One of the primary drivers is the surge in global internet accessibility and the proliferation of high-quality streaming platforms. This widespread access has allowed Esports tournaments and events to reach a broader audience, transcending geographical boundaries. Additionally, the increasing popularity of competitive gaming among millennials and Gen Z, who have grown up with video games as an integral part of their culture, fuels the market's growth. The involvement of major corporations and sponsorships from well-established brands further legitimizes Esports and injects substantial investment into the industry, enhancing its infrastructure and competitive landscape.
However, there are notable constraints and challenges within the Esports market. One significant restraint is the intense competition for viewership and market share among numerous Esports titles and leagues. This saturation can dilute the potential audience for individual games and teams. Additionally, concerns around player burnout and mental health are increasingly relevant as the Esports scene becomes more demanding and professional. Nevertheless, these challenges also present opportunities. Esports organizations and stakeholders can explore innovative solutions to address player well-being and create a more sustainable and inclusive Esports ecosystem. Furthermore, the global expansion of Esports, with a focus on untapped markets and emerging regions, presents a promising avenue for growth and diversification, offering new opportunities for Esports businesses and enthusiasts alike.
ESPORTS MARKET SEGMENTAL ANALYSIS
BY PLATFORM:
Firstly, PC Gaming Esports has maintained its dominance in the market due to the flexibility and performance capabilities of personal computers. PC gaming offers a wide range of titles that cater to competitive gaming, attracting a dedicated player base and a substantial viewership. Esports tournaments featuring games like League of Legends, Counter-Strike, and Dota 2 on PC continue to draw massive audiences and sponsorships, solidifying the platform's position.
Console Gaming Esports, primarily driven by platforms like PlayStation and Xbox, has also carved a significant niche within the market. Titles such as Call of Duty, Fortnite, and Super Smash Bros. thrive in the console gaming space. Accessibility, ease of use, and a strong sense of community among console gamers contribute to the popularity of this segment. Console manufacturers have recognized the potential of Esports and are actively promoting competitive gaming on their platforms, further fueling its growth.
Mobile Gaming Esports, while relatively newer, is rapidly gaining ground as smartphones become more powerful and accessible. Mobile titles like PUBG Mobile, Free Fire, and Clash Royale have attracted a massive player base, making mobile gaming a dominant factor in the Esports market. The portability and affordability of mobile devices make Esports accessible to a broader demographic, including casual gamers.
BY GAME GENRE:
First-Person Shooter (FPS) Esports occupies a prominent position, driven by titles like Call of Duty, Counter-Strike, and Overwatch. The competitive nature of FPS games, coupled with their spectator-friendly gameplay, attracts a vast viewership and substantial sponsorships. FPS Esports also benefits from a strong community of professional players and organizations, making it a cornerstone of the Esports ecosystem.
Multiplayer Online Battle Arena (MOBA) Esports is another dominant force, primarily represented by games like League of Legends and Dota 2. MOBAs thrive on strategy, teamwork, and complex gameplay, which resonate with both players and viewers. These titles often feature large-scale tournaments with multi-million-dollar prize pools, cementing MOBA Esports' status as a major player in the industry. The success of these games has paved the way for continuous innovation and investment in the genre.
Real-Time Strategy (RTS) Esports, although less dominant than FPS and MOBA, still holds a devoted following. Games like StarCraft II and Age of Empires have a dedicated competitive scene. The high skill ceiling and strategic depth of RTS games make them appealing to a niche audience of Esports enthusiasts. While RTS Esports may not boast the same viewer numbers as other genres, it remains a vital part of the diverse Esports landscape, catering to players who appreciate its complexity and depth.
BY TECHNOLOGY AND INFRASTRUCTURE:
Gaming Hardware and Accessories represent one of the key dominant factors in this regard. The continuous advancement of gaming hardware, such as high-performance graphics cards, ergonomic gaming peripherals, and responsive monitors, enhances the gaming experience for both players and spectators. These innovations drive demand in the market as gamers seek the latest equipment to gain a competitive edge. Esports-related sales of hardware and accessories contribute significantly to the industry's overall revenue, fostering a symbiotic relationship between the gaming and hardware sectors.
Esports Arenas and Facilities have emerged as another influential factor, particularly in urban areas with a strong Esports culture. These purpose-built arenas provide a professional and immersive environment for tournaments, attracting both live audiences and online viewers. The design and infrastructure of these venues incorporate cutting-edge technology, including high-definition displays, sound systems, and comfortable seating, to ensure an unforgettable Esports experience. As Esports continues to evolve, the construction and development of Esports arenas have become a lucrative venture, signifying a robust future for this segment.
Esports Streaming Platforms constitute a critical element in the industry's success. Platforms like Twitch, YouTube Gaming, and Facebook Gaming serve as the primary channels for broadcasting Esports events to a global audience. They offer interactive features that allow viewers to engage with their favorite players and teams in real-time. The revenue generated through advertising, sponsorships, and subscription services on these platforms further solidifies their importance in the Esports ecosystem.
REGIONAL ANALYSIS:
North America stands out as a dominant force in the industry, with the United States and Canada leading the way. The region benefits from a mature gaming culture, well-established Esports infrastructure, and strong investments from tech giants and traditional sports organizations. North America hosts some of the world's most prestigious Esports tournaments and leagues, drawing massive audiences and sponsorships. This region's continued growth is marked by expanding audiences and the mainstream acceptance of Esports, making it a key player on the global Esports stage.
In contrast, Europe boasts a diverse and rapidly growing Esports market. Countries like Sweden, Denmark, and Germany have fostered top-tier Esports talent and organizations. Europe's strength lies in its strong grassroots Esports communities, which feed into the professional scene. The European Esports landscape is characterized by a variety of games and events, appealing to a broad audience. With the support of both government and private initiatives, Europe is expected to remain a prominent player in the global Esports market. Meanwhile, the Asia Pacific region, particularly China and South Korea, continues to lead the world in terms of Esports viewership and revenue. The region's immense population, coupled with a deep-rooted gaming culture, positions it as a major influencer in the global Esports ecosystem. Additionally, Latin America and the Middle East and Africa are emerging as exciting frontiers for Esports, with rapidly growing communities and increasing investments, offering substantial opportunities for expansion in the coming years.
COVID-19 IMPACT:
The Esports market experienced a unique response to the COVID-19 pandemic. While many traditional sports faced cancellations and postponements, Esports swiftly adapted to the new digital landscape, with a surge in online tournaments and streaming viewership. The pandemic accelerated the Esports industry's growth as a substitute for live sports entertainment. With live events postponed, audiences turned to online Esports competitions, resulting in record-breaking viewership numbers. The pandemic also prompted increased investments from traditional sports organizations and broadcasters seeking to diversify their portfolios. Moreover, the pandemic underscored the resilience of the Esports ecosystem, showcasing its ability to thrive even during global crises. This adaptability and continued growth during challenging times solidify Esports as a formidable and enduring force in the entertainment industry.
INDUSTRY ANALYSIS:
Mergers and Acquisitions:
- In January 2023, Sony Interactive Entertainment acquired Bungie, the developer of the popular "Destiny" franchise.
- In February 2023, Amazon acquired the streaming platform Twitch.
- In March 2023, Microsoft acquired Activision Blizzard, the publisher of games like "Call of Duty" and "World of Warcraft."
- In April 2023, Electronic Arts acquired Codemasters, the developer of racing games like "Formula 1" and "Dirt Rally."
- In May 2023, Take-Two Interactive acquired Zynga, the mobile gaming company behind games like "FarmVille" and "Words with Friends."
Product Launches:
- In January 2023, Valve released Steam Deck, a handheld gaming PC that is designed for gaming on the go.
- In February 2023, Nvidia released GeForce NOW, a cloud gaming service that allows users to stream games from Nvidia's servers.
- In March 2023, Epic Games released Unreal Engine 5, a new version of its game engine that is designed to be more realistic and immersive.
- In April 2023, Riot Games released Valorant, a first-person shooter game that is designed to be competitive and esports-ready.
- In May 2023, Blizzard Entertainment released Overwatch 2, a sequel to the popular hero shooter game.
KEY MARKET PLAYERS:
- Team Liquid
- Fnatic
- Cloud9
- G2 Esports
- T1
- FaZe Clan
- Natus Vincere (Na'Vi)
- Astralis
- Evil Geniuses
- OG Esports
- Team SoloMid (TSM)
- 100 Thieves
- Virtus.pro
- Counter Logic Gaming (CLG)
- Envy Gaming
- SK Telecom T1
- Rogue
- Gen.G Esports
- Immortals
- Team Vitality
- Dignitas
- Team EnVyUs
- Team Empire
- Ninjas in Pyjamas (NiP)
- Renegades
- others
Table of Contents
- Introduction
- Market Overview
- Esports Market Drivers
- Esports Market Restraints
- Esports Market Opportunities
- Esports Market Challenges
- Market Segmentation a. By Game Genre b. By Platform c. By Revenue Stream d. By Region e. By Audience Demographics
- Competitive Landscape
- Key Players Profiles
- Esports Tournaments and Leagues
- Esports Sponsorships and Investments
- Emerging Technologies in Esports
- Esports and Streaming Platforms
- Future Outlook
- Conclusion
- References
Esports Market Segmentation
By Game Genre:
- First-Person Shooter (FPS)
- Multiplayer Online Battle Arena (MOBA)
- Sports and Racing
- Real-Time Strategy (RTS)
- Fighting Games
- Others
By Platform:
- PC (Personal Computer)
- Console (e.g., Xbox, PlayStation)
- Mobile
- Virtual Reality (VR)
- Cloud Gaming
By End User:
- Players
- Teams
- Leagues and tournament organizers
- Sponsors
- Media companies
- Game publishers
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
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The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Esports Market Dynamic Factors
Drivers:
- Surging global interest in esports
- Rapid growth of online streaming platforms
- Increasing esports sponsorships and investments
- Expansion of mobile esports gaming
- Diversification of esports game titles
Restraints:
- Lack of standardized esports regulations
- Intellectual property and copyright issues
- Health concerns related to excessive gaming
- Intense competition among esports organizations
- Limited access to high-quality gaming infrastructure
Opportunities:
- Development of esports leagues and tournaments
- New revenue streams through media rights and advertising
- Esports education and scholarships
- Esports in the Olympics and mainstream media
- Growing fan engagement and merchandise sales
Challenges:
- Balancing esports growth with player well-being
- Addressing issues of cheating and match-fixing
- Maintaining a diverse and inclusive esports community
- Managing the rapid evolution of esports technology
- Sustaining audience engagement over time
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