Esports Market to Reach Valuation of USD 11.94 Billion by 2030 – Growing Popularity of Competitive Gaming and Increased Accessibility to Esports Platforms Drives the Market

In terms of revenue, the Global Esports Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 27.6% from 2023 to 2030.

Esports is a rapidly growing market that revolves around competitive video gaming. Over the years, it has gained immense popularity and has become a multi-billion dollar industry. With the advancements in technology and the widespread access to the internet, Esports have flourished, attracting millions of players, viewers, and sponsors from all over the world.

The Esports market is primarily driven by the engagement and enthusiasm of its audience. Unlike traditional sports, Esports offers a unique gaming experience not limited by physical capabilities or geographical boundaries. This allows players and fans from different backgrounds and locations to come together and participate in virtual competitions. The accessibility and inclusiveness of Esports have contributed to its rapid growth and global appeal. 

Key Highlights from the Report

• Based on the Application segment, the Platform division dominates the global Esports market. With the increasing popularity and growth of Esports, the platform segment is experiencing significant demand and innovation. The development of advanced and user-friendly platforms has helped to enhance the overall Esports experience for both players and spectators, leading to increased engagement and participation in the market.
• Based on the Device Type segment, the Smartphone will likely be responsible for most of the market growth in 2022 as it offers easy accessibility to gaming, allowing players to engage anywhere and anytime. Moreover, the convenience and portability of smartphones have attracted a wider audience, expanding the reach of Esports.
• Based on Region, North America dominates the Esports market with its passionate gaming community, advanced infrastructure, and continuous growth. 

Market Dynamics

One key element distinguishing Esports from other forms of entertainment is the extensive use of streaming platforms. Platforms like YouTube and Twitch Gaming have become the main channels for broadcasting professional gaming tournaments and events. These streaming platforms allow millions of viewers to view their favorite players and teams competing in real time. This has created an immersive and interactive experience for the audience, making them feel connected to the Esports community.

The Esports market attracts a wide range of sponsors and advertisers. Companies from various industries, including technology, telecommunications, and apparel, are keen to invest in Esports to reach the millennial and Gen Z demographics. These sponsors often provide financial support, equipment, and other resources to Esports organizations and teams. In return, they benefit from the exposure and brand visibility derived from the rapidly growing Esports audience.

The North America Esports market has experienced significant growth and success in 2022. With a large population of passionate gamers and technological advancements, the region has become a lucrative hub for Esports enthusiasts. Moreover, North America has a well-developed infrastructure, which supports the growth of Esports. High-speed internet, powerful gaming PCs, and gaming consoles are readily available, providing a conducive environment for professional gamers. The thriving Esports scene has also created numerous job opportunities, from experienced players and coaches to event organizers and content creators. 

The Global Esports Market is Segmented as follows

• Application
  • Platform
  • Service
• Streaming Type
  • On-Demand
  • Live
• Device Type
  • Smart Phone
  • Smart TV
  • Desktop/ Laptop/ Tablets
  • Gaming Console
• Revenue Stream
  • Media Rights
  • Game Publisher Fee
  • Sponsorship
  • Digital Advertisement
  • Tickets & Merchandise
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Esports Market is

Gameloft SE (France), Kabam (Canada), Nintendo (Japan), Gfinity (UK), CJ Corporation (South Korea), FACEIT (UK), Activision Blizzard Inc. (U.S.), Modern Times Group (Sweden), NVIDIA Corporation (U.S.), Electronic Arts (U.S.) 

The Global Esports Market Scope can be Tabulated as below