Increasing live streaming of games, formidable investments, rising audience reach, engagement activities, and infrastructure for league tournaments are the factors influencing the market growth.
The esports market generated $0.94 billion in 2020, and is anticipated to generate $4.75 billion by 2030, witnessing a CAGR of 17.5% from 2021 to 2030.
Increase in the number of tournaments & events with huge prize for winners and runner-up team along with long-term investment opportunities in the e-sport event present new opportunities in the coming years.
Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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Based on region, Asia-Pacific, followed by North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global esports market. Moreover, the same region is expected to witness the fastest CAGR of 19.5% from 2021 to 2030, owing to strong technological growth along with the ongoing development in the gaming sector. The report also includes North America, LAMEA, and Europe.
Based on component, the platform segment held the highest market share in 2020, accounting for more than two-thirds of the global Esports market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increase in adoption of Esports among the developed country to gain strategic as well as competitive advantage over their competitors. However, services segment is projected to manifest the highest CAGR of 18.6% from 2021 to 2030, owing to surge in adoption of online gaming and virtual tournament of the Esport industry event.
Based on strimming type, the on-demand segment accounted for the largest share in 2020, contributing to three-fifths of the global E-sports market, and is projected to maintain its lead position during the forecast period. The growth of the segment is attributed to numerous benefits provided by streaming type segment such as high quality of gaming, ease to customize as per the requirement of players and high security of gaming ID, and others. Moreover, the live segment is expected to portray the largest CAGR of 19.5% from 2021 to 2030, owing to rise in adoption of real-time streaming of Esport game due to its cost-effective and easy to broadcast operation.
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Key esports industry players profiled in the report are Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation.
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