Esports Market: Segmented: By Device Type (Smart Phone, Smart TV, Desktop -Laptop-Tablets, Gaming Console), By Streaming Type (On Demand, Live), By Application (Platform, Service), By Revenue Stream (Media Rights, Game Publisher Fee, Sponsorship, Digital Advertisement, Tickets, and Merchandise), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Esports Market to surpass USD 8.8 billion by 2031 from USD 1.4 billion in 2021 at a CAGR of 20.6% in the coming years, i.e., 2021-2031.
Esports, which is elongated as electronic sports, is a kind of video game competition. Esports are usually organized multiplayer video game events between professional players, either individually or in teams. It describes the competitive and structured video gaming scene. In actuality, competitive video gaming is a rapidly expanding global phenomenon with millions of followers and billions of dollars on the line. Casual gamers have become serious stars because of streaming services and live events, with seven-figure wages and enormous commercial endorsements.
Factors like rising viewing and a drop in outdoor sporting activity as a result of the COVID-19 pandemic. Furthermore, market growth is influenced by increasing penetration among young gamers as well as influencer-driven marketing. The popularity of social media and live video streaming among young people has fueled the eSports market. Many eSports companies are enlisting athletes and sportspeople to help promote their products, which is helping the market flourish.
On the basis of Device Type, the global Esports Market is fragmented into Smart Phone, Smart TV, Desktop -Laptop-Tablets, and Gaming Console. In previous years, the gaming console segment dominated the Esports market share, and this trend is projected to continue over the forecast period. The segment's growth may be ascribed to a variety of advantages supplied by this device type, including excellent gaming quality, which leads to a much better gaming experience, high security, and so on.
Global Esports Market is classified on the basis of Revenue Stream into Media Rights, Game Publisher Fee, Sponsorship, Digital Advertisement, and Tickets and Merchandise. In previous years, the game publisher fee segment dominated the total Esports market, and this trend is projected to continue during the projection period. This is due to the growing use of Esports in the gaming industry to obtain a strategic and competitive advantage over their competitors. Furthermore, it offers a complete gaming solution as well as a platform for e-sport tournaments, propelling the sector forward.
The growing awareness of Video Games and the rising popularity of Esports
The e-sport market is growing due to a number of causes, including increased knowledge of video games and the increased popularity of Esport. Additionally, significant players' long-term investment initiatives and an increase in the number of tournaments and events with large prize pools will generate attractive prospects in the market during the projection period.
Higher penetration of the smartphones in the emerging economies
Smartphone adoption is increasing in developing nations due to a variety of variables including rising per capita income, cost affordability, and the availability of various low-cost choices with considerable features, among others. This boosts the popularity of online smartphone and video gaming. Video games have been providing children with amusement for decades.
Lack of Standardization
The threat of esports gambling/betting, as well as a lack of standardization, are hampering the business negatively.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Esports Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Over the projection period, Asia Pacific is expected to lead the market. Over the projection period, Asia Pacific is expected to lead the market. The expansion of esports has been hastened by the region's increasing adoption of mobile gaming and internet usage. Over the projection period, an increasing number of breakthroughs and initiatives are predicted to move the industry forward. In previous years, North America had the biggest revenue share, with the United States leading the way. For years together, the area has conquered the business, with PC gaming providing a more specific audience.
The rising number of COVID-19 positive cases prompted a global lockdown, forcing people to stay at home for extended periods of time and increasing the use of online gaming for entertainment and relaxation. This has resulted in a huge surge in the use of E-sports solutions. As a result, end users are increasingly demanding these solutions.
|Market size value in 2021||USD 1.4 billion|
|Revenue forecast in 2031||USD 8.8 billion|
|Growth Rate||CAGR of 20.6% from 2021 to 2031|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Device Type, Streaming Type, Application, Revenue Stream, and Region|
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation, and Other Prominent Players.|
The Esports Market size was estimated at USD 1.4 billion in 2021 and is expected to reach 8.8 billion by 2031.
Key players: Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation, and Other Prominent Players.
Gaming Console segment is anticipated to hold the largest Esports Marke
Drivers: The growing awareness of Video Games and the rising popularity of Esports and Higher penetration of the smartphones in the emerging economies
Esports, which is elongated as electronic sports, is a kind of video game competition. Esports are usually organized multiplayer video game events between professional players, either individually or in teams.
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