Esports Market: Current Analysis and Forecast (2021-2027)

Esports Market: Current Analysis and Forecast (2021-2027)

Esports Market is expected to grow at a CAGR of around 25% over the forecast period (2021-2027). The Esports medical devices market is primarily driven by factors such as growing adoption of advanced gaming technologies, changing entertainment preferences among consumers, rising income levels, and growing demand for mobile gaming.

The use of smartphones across developing economies is on a continuous increase due to numerous factors such as rise in per capita income, cost affordability, availability of multiple low price options with significant features, and others. This increases the demand for online smartphone gaming and video gaming. Video games have been around for decades, providing entertainment for children. The video game sector is immensely large. In fact, it is larger than movie & music industry and it is also growing rapidly. As the demand for online video game event is increases it will create lucrative opportunity for the E-sport market globally.

The increasing smartphone penetration and better internet connectivity have led to rise in the number of gamers at a rapid pace. It imitates the experience of viewing a professional sports event, where audiences watch video gamers compete against each other. Esports events comprise competitive leagues and tournaments. Further, with increasing player wages and expanding Esports market, the introduction of new sponsors is critical for the future commercial success of Esports.

Some of the major players operating in the market include Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation, etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

Insights Presented in the Report

“Amongst Application, Platform segment dominated the market in 2020”

Based on Application, Esports Market is classified into Platform and Services. Platform holds the highest share in the Esports market. The pop-culturization of the Esports industry has helped power the explosions in Esports investment and revenue. Esports has hit this stratosphere in large part because of the social component of live streaming and gaming. Video gaming-specific streaming platforms like Twitch and YouTube Gaming give fans a direct connection to the players and teams, while more mainstream socials have allowed those connections to flourish.

“Amongst Streaming Type, On Demand segment dominated the market in 2020.”

Based on Streaming Type, the Esports market is segmented into On Demand and Live. The large share of the streaming type segment can be attributed to the growing youth population and changing lifestyles have both contributed to an increase in demand for video games and online video games over the years. Growing audience reach and engagement activities, significant investments, rising live streaming of games, and expanding infrastructure for league tournaments are key factors driving the market growth.

“Amongst Device Type, Smartphone holds significant market share in 2020.”

Based on Device Type, the Esports market is segmented into Smartphone, Smart TV, Desktop/laptop/tablets and Gaming console. Smartphone holds the highest share in the Esports market. The constant technological advancements across the world have compelled people to depend on smartphones, several high-tech gadgets, and the internet. The growth of the segment is attributed to numerous benefits provided by this device type such as high quality of gamming, which results in much better gaming experience, high security, and others. However, the smartphone segment is expected to witness highest growth in the upcoming years.

“Amongst Revenue Stream, Sponsorship witnesses significant CAGR during the Forecast Period.”

Based on Revenue Stream, the Esports market is segmented into Media rights, Game Publisher fee, sponsorship, digital advertisement, tickets and merchandise. Sponsorship holds the highest share in the Esports market. On ground sponsoring is cheaper than an online advertisement, and tends to be influential, especially, for companies offering products and services directly related to gaming.

“North America represents as the largest market.”

For a better understanding of the market adoption of Esports, the market is analyzed for the countries such as North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia- Pacific), & Rest of World. North America dominated the market in 2020. The high and growing adoption of advanced gaming technologies, changing entertainment preferences among consumers, rising income levels, and growing demand for mobile gaming all contribute to the North American region's big proportion. The United States is also home to the great majority of worldwide players, making it a hotbed of innovation in the Esports business.

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• Deep dive regional & country-level analysis of the industry