Esports Market Size, Share & Trends Analysis Report By Revenue Source (Sponsorship, Advertising, Merchandise & Tickets, Media Rights), By Region (APAC, CSA, Europe), And Segment Forecasts, 2023 - 2030

Esports Market Size, Share & Trends Analysis Report By Revenue Source (Sponsorship, Advertising, Merchandise & Tickets, Media Rights), By Region (APAC, CSA, Europe), And Segment Forecasts, 2023 - 2030

Esports Market Growth & Trends

The global esports market size is expected to reach USD 12.10 billion by 2030, registering a CAGR of 26.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.The increasing mobile usage in emerging countries, rising awareness regarding Esports, and increasing popularity of video games are expected to fuel the market growth in the forecasted period.

Consumers demand high-quality and interactive gaming content aligned with the dynamic entertainment industry. The alignment of entertainment and gaming will influence the growth of the entire sports industry, including online streamers and small and big-budget game developers. The increasing investments from commercial partners and substantial audience growth have resulted in revenue growth in the esports market. The industry has become more structured, with associations and league formats developing new competitive structures. Moreover, the growing partnerships, acquisitions, and mergers have projected strong growth in the esports market.

Streaming platforms, such as Twitch, have attracted viewers by streaming esports and gaming. The esports tournaments have fascinated athletes and celebrities and have drawn a broad audience's attention. Additionally, esports and gaming make it easy to draw the attention of enthusiastic and young viewers who are hard to reach through traditional media channels. The ability to grab the attention of the young and enthusiastic audience has attracted many brands to invest in esports events through sponsorships and advertising. The interest of investors has increased with the centralization of an Esports team, rising audience, and the introduction of a more franchise-style league. The rising interest of brands in esports teams to reach potential customers is expected to drive market growth in the forecasted period.

In addition to sponsorship, ticket sales, and merchandise are essential revenue segments that drive the esports market's growth. The franchisee is focusing on hosting local events that include fans in stadiums, generating significant revenue, and thus contributing to the further development of the esports market. The Esports apparel market has witnessed substantial growth due to a growing fanbase, league-level merchandise deals, and increased retail presence. The esports teams no longer have to rely on winning competitions as teams can independently sell their merchandise to their fans. For instance, in July 2023, Ralph Lauren partnered as the apparel partner for G2 Esports. One of G2 Esports' famous players, Martin' Rekkles' Larsson, was featured in Ralph Lauren's Wimbledon Campaign. G2 and Ralph Lauren partnered across several campaigns and events and produced a range of digital-first activations on Twitch and TikTok.

Esports Market Report Highlights

• League game and franchise formats are projected to extend the horizon of the esports market throughout the forecast period, consequently promoting industry growth.
• Mobile Esports is anticipated to make substantial gains resulting in increased viewership in the upcoming years
• The major brands are establishing long-term sponsorship partnerships with leading brands such as ESL, which suggests the high growth of the sponsorship segment during the forecast period
• The introduction of 5G is anticipated to provide expansion options for sports broadcasters by delivering reliable and faster streaming capabilities
• The Asia Pacific region is expected to gain a significant market share in the forecasted period. Countries such as China and South Korea are anticipated to play a vital role in developing the esports ecosystem in the region

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