The global esports market is anticipated to reach US$2.40 billion in 2024, growing at a CAGR of 18.19% for the period spanning 2020-2024. The growth in the esports market was driven by rising internet users & penetration, growing GDP per capita, increasing digitalization and rising smartphone users. The market is expected to face certain challenges like growing addiction of esports and physical & psychological effects. The market is witnessing certain trends such as increasing adoption of virtual reality (VR) and augmented reality (AR) in gaming industry.
The global esports market by revenue source can be segmented into the following: sponsorship, media rights, advertising, publisher fees and merchandise & tickets. In 2019, the dominant share of market was held by sponsorship, followed by media rights, advertising, publisher fees and merchandise & tickets. The global esports audience is predicted to reach 888 million in 2024, experiencing growth at a CAGR of 18.19% during the period spanning 2020-2024. The global esports audience by type can be segmented as follows: occasional viewer and enthusiast. The higher share of the market was held by occasional viewer in 2019.
The global esports market by region can be segmented into the following: North America, Asia Pacific and Europe. In 2019, the dominant share of the market was held by North America, followed by Asia Pacific and Europe. The various factors responsible for the dominant market share held by North America are rising audience of esports, increasing disposable income and surging adoption of smartphones. North America would continue to hold a dominant market share during the forecasted years.
Scope of the report:
• The report provides a comprehensive analysis of the global esports market with potential impact of COVID-19.
• The major regional markets North America, Asia Pacific and Europe along with the US have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Activision Blizzard, Modern Times Group, Gfinity, Nintendo, Tencent and Electronic Arts) are also presented in detail.
Key Target Audience:
• Esports Providers
• End Users (Businesses/Consumers)
• Investment Banks
• Government Bodies & Regulating Authorities