The Global Esports Market Size was valued at USD 1.7 Billion in 2022 and is anticipated to reach USD 15.5 Billion by 2032 with a CAGR of 24.9% from 2023 to 2032.

Esports refers to a competitive, organized form of video gaming. Competitors from various leagues or teams compete in the following games, which are popular among at-home gamers: To name a few, there's Fortnite, League of Legends, Counter-Strike, Call of Duty, Overwatch, and Madden NFL. Esports covers competitions across a number of video games, similar to how traditional sports feature competitions in baseball, basketball, and football. Unlike popular belief, esports is not just a trend but it is a legitimate industry that is developing globally and is investable.

Esports Market Dynamics

Over the years, the esports industry has seen tremendous growth in terms of audience and revenue. The increase in revenue is largely due to an increase in viewing – and not just because those viewers generate revenue. Brands are engaging in esports marketing, both directly and indirectly, because they recognize the opportunity to reach a large and engaged audience. This has aided the industry's quick financial growth, which has been restricted only by COVID's limitations on major public esports events. Another reason esports is popular is online streaming, which allows viewers to watch other people (even professional gamers) play on platforms like Twitch. Twitch (owned by Amazon) had 15 million daily visitors in 2017, with 355 billion minutes of viewing time. Today's gaming culture revolves around both playing and watching other people play games. According to many studies, the average gaming addict spends 25 hours per week playing games and another 25 hours per week viewing streams on the internet. Esports can help to level the playing field by removing barriers like gender, culture, and geography. This democratization of participation adds to the attractiveness of esports and its ability to attract a worldwide audience. The e-sport market is growing due to a number of causes, including an increase in the popularity of online video games, and increased knowledge of esports. However, market growth is constrained by a lack of standardization and threats such as betting and gaming. Additionally, important players' long-term investment initiatives, as well as an increase in the number of tournaments and events with large prize pools, would generate profitable prospects in the industry throughout the projection period.

The global esports market is bifurcated into two segments – revenue, and regions. Based on revenue, the market is categorized into sponsorship, merchandise & tickets, advertising, publisher fees, and media rights. Among them, the sponsorship segment held the majority of the share in 2022. Leading industry giants are supporting esports events and teams as the sport continues to grow in popularity and draw more fans. Sponsorship revenue from esports is a crucial business generator for game developers and franchises. Some of the key sponsorships of 2022 are as follows. Envy Gaming, a North American Esports organization, has signed on as an investor of GNF's World Chase Tag (WCT) team. The team's name will be changed to ENVY GNF as a result of the agreement. EVOS Esports, a Southeast Asian Esports organization, has declared an alliance with Bank Mandiri, an Indonesian financial services corporation. The group has launched a special edition EVOS debit card as a result of the deal, which was made in partnership with VISA.

Global Esports Market Segment Analysis

Esports Market By Streaming Type

·         On demand

·         Live

On-demand streaming is predicted to expand the fastest in the esports market because of its convenience and flexibility. Viewers may access esports content anytime they choose, providing them greater control over their consumption. Furthermore, on-demand platforms provide a diversified range of content, catering to different interests within the esports community, which is expected to fuel considerable development in this area.

Esports Market By Device Type

·         Smart phone

·         Smart TV

·         Desktop -laptop-tablets

·         Gaming console

Smartphones are expected to be the most popular in the esports industry owing to their ubiquitous accessibility and ease. Smartphones are portable, allowing consumers to access esports material anytime and anywhere. With the growing popularity of mobile gaming and the development of specific esports applications and platforms for smartphones, this group is likely to represent a sizable share of the esports audience.

Esports Market By Revenue

·         Sponsorship

·         Merchandise & Tickets

·         Advertising

·         Publisher Fees

·         Media Rights

The sponsorship category is the largest in the esports industry because to its significant contribution to overall income. Esports sponsorships are agreements between companies and esports organizations or individual players that provide financial assistance in exchange for brand exposure. With esports' growing mainstream popularity, marketers are eager to spend in sponsorships to access the highly engaged and sought-after esports audience, resulting in huge income in this area.

Esports Market By Application

·         Platform

·         Service

The platform sector is the dominant category in the esports market. Platforms provide the fundamental infrastructure for hosting and broadcasting esports events and contests. They include matchmaking, tournament organization, and live streaming options, which are useful for both players and viewers. Platforms are the backbone of the esports ecosystem, attracting the bulk of users and facilitating the industry's growth and development.

Esports Market Regional Analysis

According to the regional study of the esports industry, North America is the largest area, with a mature and well-established esports ecosystem. The region has a strong gaming culture, modern technical infrastructure, and a significant community of esports fans. Major esports events, competitions, and leagues are routinely held in North America, attracting large audiences and earning significant income.

On the other side, Asia-Pacific is the fastest-growing area in the esports business. Asia-Pacific, with its massive population, growing middle class, and rising disposable money, offers enormous prospects for esports expansion. Countries like as China, South Korea, and Japan are at the forefront of esports growth in the area, with large gaming communities and esports industries. Furthermore, the widespread availability of high-speed internet access, as well as the proliferation of mobile gaming, have contributed to the quick growth of the Asia-Pacific esports industry.

Esports Market Leading Companies

The Esports market players profiled in the report are Activision Blizzard, Inc., Electronic Arts Inc., Faceit, Gameloft SE, Modern Times Group, Nintendo of America Inc., NVIDIA Corporation, Tencent Holding Limited, Valve Corporation, and Wargaming Publicare

Esports Market Regions