Esports Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Esports Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Esports Market size is projected to witness over 15% CAGR between 2024 and 2032 owing to the rapid expansion of digital media and the increasing popularity of online gaming among diverse age groups.

High-speed internet and advanced gaming technologies have made esports more accessible and engaging, drawing in a wide audience. The integration of esports into mainstream entertainment, from television broadcasts to major brand sponsorships, boosts its visibility and appeal, fueling growth in both viewership and participation. For instance, in July 2024, AFK Gaming launched the beta version of ‘AFK Gaming Insights,’ hailed as India’s inaugural premium analytics dashboard. This platform offers real-time data and analytics, aiding users, brands, and stakeholders in making informed decisions.

Organized competitive leagues, like the League of Legends Championship Series (LCS) and Overwatch League, offer structured platforms for high-level player and team competition. There has also been a notable surge in corporate sponsorships, advertising deals, and prize pools for not only adding financial incentives but also elevating the professional stature of esports athletes.

The overall industry is classified into streaming type, revenue streaming, gaming genre, and region.

Based on revenue streaming, the esports market size from the sponsorship segment is projected to observe a substantial CAGR through 2032. This surge is fueled by substantial financial injections, bolstering the visibility and legitimacy of esports events and teams. Recognizing the potential, major brands and corporations are increasingly diving into esports sponsorships, aiming to connect with the engaged and diverse gaming audience for lucrative marketing opportunities.

With respect to gaming genre, the esports market from the fighting games segment will expand exponentially between 2024 and 2032. This is attributed to its competitive essence and loyal fan base. Classics like Street Fighter,Tekken, and Mortal Kombat have cemented their status in competitive gaming, delivering intense matches that captivate large audiences and drive significant engagement.

Asia Pacific esports industry is anticipated to grow at a notable pace over 2024-2032 attributed to rapidly increasing internet penetration and the rising popularity of mobile gaming. Mobile esports titles, such as PUBG Mobile and Arena of Valor, have become particularly popular in attracting massive audiences and fostering a competitive gaming culture. Supportive government policies and investments, such as dedicated gaming arenas and training facilities, will further contribute to the regional market growth.