Information and Communication Technology Esport Market is projected to grow up to 24.4% CAGR during the forecasting period 2021-202...

Esport Market is projected to grow up to 24.4% CAGR during the forecasting period 2021-2027.

Esports and gaming have exploded into the mainstream in recent years, evolving from a thriving niche to a central form of entertainment around the world. Ticket sales are shifting away from the arena and toward the internet. While esports was once considered a subset of sports culture, it has now developed into a thriving industry in its own right, according to Forbes.

The popularisation of esports has contributed to the explosive growth in esports investment and revenue in recent years. This level of popularity has been achieved in large part as a result of the social component of live streaming and video gaming. Fans have a direct line of communication with players and teams through video gaming-specific streaming platforms such as Twitch and YouTube Gaming, while more mainstream social media platforms have allowed those connections to flourish. Certain esports organisations, such as FaZe Clan, are also expanding aggressively into other areas, such as merchandise, in order to gain more recognition for their brands than they would have gained if they had stayed solely in esports.

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Key Driving Factors: The growing popularity of video games is expected to fuel the growth of the esports industry.

The market for online games is expanding at a healthy rate as a result of factors such as the increasing adoption of advanced gaming technologies, shifting entertainment preferences among consumers, rising income levels, and increased demand for mobile gaming, among other things. The increasing use of smartphones and improved internet connectivity have resulted in a rapid increase in the number of people who play video games.

A rise in popularity of video games is expected to contribute to the growth in size of the esports market. As a result of factors such as increasing acceptance of advanced gaming technology, evolving customer entertainment preferences, rising income levels, and increasing demand for mobile gaming platforms, the online gaming market is expanding at a healthy rate. Furthermore, the increasing mobile penetration and increased internet access are expected to contribute to the growth of the esports market in the near future.

This report offers the major market player’s profiles, such as Modern Times Group (Sweden), Activision Blizzard (US), FACEIT (UK), Nintendo (Japan), Gfinity (UK), Turner Broadcasting System (US), CJ Corporation (South Korea), Valve Corporation (US), Tencent (China), and Electronic Arts (EA) (US).

Based on Application :

Electronic sports are competitive video game tournaments that are organised specifically for video game players. It simulates the experience of watching a professional sporting event by allowing viewers to watch video gamers compete against one another on a television screen.

The eSports market is segmented according to the revenue streams, games, and e-platforms that are used. The growth among segments assists you in identifying niche pockets of growth and market entry strategies, as well as identifying your core application areas and the differences between your target markets. The growing popularity of gaming tournaments, impressive international prize pools, streaming revenues, and one-to-one sponsorships have all contributed to the emergence of sports as a competitive occupation. Also in order to develop qualified professionals, universities and colleges are beginning to implement a dedicated sports programme. These factors, in turn, are expected to contribute to the expansion of the esports market's overall size.

The Esports Market report has been categorized as below

By application 

  • Key points 

  • Professional

  • Amateur

By type 

  • Key points 

  • Multiplayer Online Battle Arena (MOBA)

  • First-Person Shooter (FPS)

  • Real-Time Strategy (RTS)

  • Other

By Revenue Streams

  • Key points 

  • Media Rights

    • Subscriptions

    • Online Advertisements

  • Tickets and Merchandise

  • Sponsorships and Direct Advertisements

  • Publisher Fees

By Region

  • Key points 

  • North America

  • Europe

  • Asia Pacific

  • Rest of World

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Published Date : July-2021